Nexo: What’s the Latest Regarding its Price?
Nexo is up by approximately 3.11% from the previous day, with its price currently hovering around $0.1126 USD. Nexo enters the day 5.05% above its 20 day moving average, and is experiencing its the 2nd consecutive day up. Another data point we may find worthy of observation is that price for Nexo has increased 6 of the previous 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 22.89% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Nexo suggest price may bounce between $0.100089 and $0.114291 based on its momentum and volatility over the past 14 days. Price’s current proximity to the top of the range may make shorting an attractive opportunity to traders interested in trading the range.
As for Nexo’s market cap, it is currently at about $63M US dollars.
Daily Engagement Metrics Update
Yesterday saw 205 transfers 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 36. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 79 wallets making a transaction yesterday, while 1,331 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.06.
How are the Strong Holders of Nexo Faring?
And in regards to wealth distribution, note that the top 1,000 Nexo wallets hold over 109.39% of the token’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. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 4.34% of the currency’s money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.09% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.31%. As for the Nexo’s smart contract itself, that owns 0.02% of the total money supply, an amount unchanged from the week prior.
Nexo’s Social Media Presence
Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,888 users engaged. Use this link to follow Nexo on Twitter.
Article by SixJupiter
