May 8, 2020: Nexo (NEXO): Down 3.09%; Price Crosses 20 Day Average

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How Did Nexo’s Price Fare Yesterday?

Nexo’s current price, at the time of this writing, is $0.1067 USD, down by approximately 3.09% from the day prior. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in a unclear trend, and is currently 0.56% below its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 7 of the past 14 days. Another data point we may find worthy of observation is that price for Nexo has increased 7 of the previous 14 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 $0.10179 and $0.11281, 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.

Daily Engagement Metrics Update

Over the past 24 hours, 548 transfers have been added to the blockchain recording transactions amongst holders of Nexo. Regarding a tally of holders, Yesterday saw Nexo’s wallet count increase by 75. To understand loyalty or repeat usage amongst holders of Nexo, we can note that there were 211 wallets making a transaction yesterday, while 1,585 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.13.

Just How Rich are Nexo’s Richest Holders?

As for wealth distribution, the richest 1,000 wallets currently own 109.31% of the 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. 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 4.49% 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 -0.09%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by 0.14%. 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

Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Nexo on Twitter.

Article by SixJupiter

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