March 26, 2020: Nexo (NEXO): Up 1.42%

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Nexo: What’s the Latest Regarding its Price?

At the time of this writing, Nexo has a price of $0.1071 USD, which puts it up by approximately 1.42% from yesterday. Yesterday’s up day is a reversal of the day before it; in terms of trend, though, note that the current price is now 5.26% below its 20 day moving average, and is currently in an up trend over the past 14 days. To help contextualize yesterday’s price move, we can observe that price has rallied 6 of the past 14 days. And in terms of volume, yesterday’s price move ocurred on volume that was 31.62% less than its 7 day average volume.

As for Nexo’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $0.095821 and $0.130281. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

As for Nexo’s market cap, it is currently at about $60M US dollars.

Update on Transactions and Holders

Over the past 24 hours, NA transfers have been added to the blockchain recording transactions amongst holders of Nexo. As for the number of holders, yesterday saw the number of wallets holding Nexo NA by NA. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 111 wallets making a transaction yesterday, while 1,682 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.07.

Just How Rich are Nexo’s Richest Holders?

In terms of wealth concentration, the richest 1,000 wallets own 109.71% of the coin’s total money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of Nexo have ownership they cannot sell at this time — but may be able to in the future. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 3.94% of the currency’s total money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.08% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.12%. Nexo’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.

Nexo’s Social Media Presence

If you are interested in following Nexo on social media, Twitter, where it has 48,764 following it, may be a good place to start. You can follow Nexo on Twitter here.

Article by SixJupiter

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