Nexo Price Update
Nexo is down by approximately 1.93% from the previous day, with its price currently hovering around $0.1069 USD. Yesterday’s down day is a reversal of the day before it; in terms of trend, though, note that the current price is now 2.29% below its 20 day moving average, and is currently in an up trend over the past 14 days. Another data point we may find worthy of observation is that price for Nexo has increased 2 of the previous 5 days. Another data point we may find worthy of observation is that price for Nexo has increased 2 of the previous 5 days.
Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for Nexo imply the currency may oscillate between $0.091434 and $0.127378, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain buying, as we are nearer to the bottom of the range.
As for Nexo’s market cap, it is currently at about $60M US dollars.
Update on Transactions and Holders
NA transactions amongst holders of Nexo occurred yesterday. Regarding a tally of holders, Yesterday saw Nexo’s wallet count NA by NA. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.05, with 81 wallets making a transfer this past day and 1,665 wallets having made a transfer in the past month.
How are the Strong Holders of Nexo Faring?
In terms of wealth concentration, the richest 1,000 wallets own 109.69% of the coin’s total money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 3.96% of the currency’s money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.08%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.22%. The underlying smart contract itself for Nexo owns 0.02% of the total money supply; over the past week, this amount has not changed.
The Latest on Nexo and Social Media
In the past day, Nexo’s Reddit subscribers went up by 13, respectively. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Here is the Twitter page for Nexo.
Article by SixJupiter
