Nexo Price Update
At the time of this writing, Nexo has a price of $0.1114 USD, which puts it up by approximately 1.92% 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 3.45% above its 20 day moving average, and is currently in a unclear trend over the past 14 days. To help contextualize yesterday’s price move, we can observe that price has rallied 3 of the past 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 64.08% less than its 7 day average volume.
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 $0.101966 and $0.113394, based on how price has behaved in the two weeks prior. Price’s current proximity to the top of the range may make selling an attractive opportunity to traders interested in trading the range.
The currency’s market cap currently stands at $62 million US dollars.
Update on Transactions and Holders
Over the past 24 hours, 298 transfers have been added to the blockchain recording transactions amongst holders of Nexo. Regarding a tally of holders, Yesterday saw Nexo’s wallet count rise by 32. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 101 wallets making a transaction yesterday, while 1,379 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.
How are the Strong Holders of Nexo Faring?
In terms of wealth concentration, the richest 1,000 wallets own 109.36% of the coin’s total money supply. This number is greater than 100% because many of the token holders are not able to sell them yet, and thus their numbers are not included in the supply yet, though they can be regarded as future sellers when they are able to sell. The percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 4.46% of the currency’s money supply. Exchange ownership grew by 0.02% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.09% over that time period. Nexo’s smart contract owns approximately 0.02% of its own total money supply. This amount hasn’t changed over the past week.
The Latest on Nexo and Social Media
Traders interested in following Nexo has the biggest presence on Twitter, where it has 48,921 users engaged. Here is the Twitter page for Nexo.
Article by SixJupiter
