May 11, 2020: Nexo (NEXO): Up 3.5%

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How Did Nexo’s Price Fare Yesterday?

Nexo’s current price, at the time of this writing, is $0.09876 USD, up by approximately 3.5% from the day prior. The up day for Nexo yesterday was a reversal from the day before it, which puts its price at 7.55% below its 20 day moving average. Over the past two weeks, price has been in a unclear trend. From another vantage point, note that price has gone up 2 of the past 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 68.55% less than its 7 day average volume.

In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.097292 and $0.116366 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 currency’s market cap currently stands at $57 million US dollars.

Update on Transactions and Holders

Over the past 24 hours, 317 transfers have been added to the blockchain recording transactions amongst holders of Nexo. In terms of estimating the number of holders, over the past day the total number of wallets holding Nexo has gone up by approximately 28. In terms of recurring usage, we can note that 1,765 wallets have sent or received coins in the past month, while 123 have in the past day.

Observing Nexo’s Richest Wallets

In terms of wealth concentration, the richest 1,000 wallets own 109.27% 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. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 4.48% of the currency’s money supply. Exchange ownership grew by 0.12% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.1% over that time period. 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?

Traders interested in following Nexo has the biggest presence on Twitter, where it has 49,136 users engaged. Here is the Twitter page for Nexo.

Article by SixJupiter

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