Nexo Price Update
At the time of this writing, Nexo has a price of $0.104 USD, which puts it down by approximately 0.76% from yesterday. Yesterday’s down day is a reversal of the day before it; in terms of trend, though, note that the current price is now 0.36% 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 1 of the previous 5 days. Another data point we may find worthy of observation is that price for Nexo has increased 1 of the previous 5 days.
In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.087392 and $0.12136 based on its momentum and volatility over the past 14 days. Price’s current proximity to the bottom of the range may make buying an attractive opportunity to traders interested in trading the range.
The market capitalization of Nexo, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $58 million.
Daily Engagement Metrics Update
59 transactions amongst holders of Nexo occurred yesterday. In terms of estimating the number of holders, over the past day the total number of wallets holding Nexo has gone up by approximately 10. In terms of recurring usage, we can note that 1,608 wallets have sent or received coins in the past month, while 44 have in the past day.
How are the Strong Holders of Nexo Faring?
In terms of wealth concentration, the richest 1,000 wallets own 109.68% of the coin’s total money supply. Incidentally, this value exceeds 100% because many owners are not yet able to sell (due to contractual provisions), and our supply metric only observes liquid supply. 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 3.92% of the currency’s total money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.06%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.08%. The underlying smart contract itself for Nexo owns 0.02% of the total money supply; over the past week, this amount has not changed.
What’s Going on Social Media?
In the past day, Nexo’s Reddit subscribers went up by 4, respectively. Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,735 users engaged. Here is the Twitter page for Nexo.
Article by SixJupiter
