About Wrapped NXM
NXM token itself is created solely for internal use within the Nexus Mutual protocol and all of its holders must go through KYC. As such, a wrapped version is created to allow more users to own the token without having to do KYC. In the meantime it also improves its liquidity outside the protocol’s bonding curve by being listed on exchanges such as Uniswap and Binance. To make use of the wNXM token, it first needs to be unwrapped into NXM by a registered member of Nexus Mutual. After it is unwrapped, wNXM becomes NXM and can be used as a normal token on the Nexus Mutual platform.
Market Stats
Market Cap
£52.61M
-0.11%
FDV
£38.87M
Circ. Supply
671K WNXM
Max Supply
672K WNXM
Total Supply
671K WNXM
Diluted Valuation
£38.68M
Performance
Popularity
Not enough data
Dominance
0%
Volume (24H)
£301.33K
-57.32%
Volume (7D)
£2.62M
Volume (30D)
£13.23M
All time high
£99.06
Price Change (1Y)
5.84%
Past performance is not a reliable indicator of future results. Learn more about asset risks.
Additional details
Recent trends
The price of Wrapped NXM has decreased by 0.14% in the last hour and increased by 0.96% in the past 24 hours. Wrapped NXM’s price has also risen by 35.46% in the past week. The current price is £57.74 per WNXM with a 24-hour trading volume of £301.33K. Currently, Wrapped NXM is valued at 41.72% below its all time high of £99.06. This all-time high was the highest price paid for Wrapped NXM since its launch.
The current circulating supply of Wrapped NXM is 671,373.294 WNXM which means that Wrapped NXM has as total market cap of £52,606,320.31.
Market details
WNXM vs markets
↘ 34.57%
WNXM vs BTC
↘ 41.51%
WNXM vs ETH
↘ 3.2%
Tags
defi
insurance
wrapped-tokens
rehypothecated-crypto
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x0d438F3b5175Bebc262bF23753C1E53d03432bDE |
Price history
Time | Price | Change |
|---|---|---|
Today | £57.74 | ↗ 0.96% |
1 Day | £57.47 | ↗ 0.96% |
1 Week | £43.09 | ↗ 35.46% |
1 Month | £40.93 | ↗ 42.30% |
1 Year | £57.27 | ↗ 5.84% |
Past performance is not a reliable indicator of future results. Learn more about asset risks.
FAQ
WrappedNXM (wNXM) is a 1-to-1 backed token generated by wrapping genuine NXM. In brief, wrapped tokens are the cryptocurrencies that are pegged or attached to the value of another crypto or assets. Thus, it bypasses the limitation of transferring native coins, i.e., tokens that reside on native blockchains. Here, NXM is an ERC20-compatible token of the Nexus Mutual protocol, a decentralized alternative to insurance. Nexus Mutual is a digital cooperative that complies with the relevant laws and regulations of the country from where it accepts members. The project aims to provide the community members with simple, transparent, accessible, and affordable financial protection against their risks. Although fully tradable, wNXM cannot be used within the Nexus Mutual platform. Since NXM is traded only among members, only Nexus Mutual members can wrap/unwrap NXM.
According to the website, the key features of the NXM project seek to be the following:
In addition, the NXM token aims to bind together the internal economics of the mutual by seeking to reward the active members for participating in the day-to-day operations of the mutual. Besides this, token-driven economic incentives aim to enforce claims payments. Token also works as a capital provider to the mutual. As the mutual’s capital pool increases, the value of NXM seeks to also increase.
Nexus Mutual was founded by Hugh Karp. He is an insurance professional with experience in a broad range of insurance and reinsurance roles. Also, he has been a blockchain enthusiast since 2011.
We update our Wrapped NXM to GBP currency in real-time. Get the live price of Wrapped NXM on Coinbase.
The current market cap of Wrapped NXM is £52.61M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Wrapped NXM is £99.06. This all-time high is highest price paid for Wrapped NXM since it was launched.
Over the last 24 hours, the trading volume of Wrapped NXM is £301.33K.
Assets that have a similar market cap to Wrapped NXM include Wrapped Matic, Savings crvUSD, Wrapped Islamic Coin, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Wrapped NXM is 671 thousand.
Social stats
Popularity in posts
#4663
Contributors
6
Posts
20
% About Wrapped NXM
0.001%
Hold times
0 days
X (Twitter)
2.33% bullish
Sentiment
5.0 ★
Highlights
6 unique individuals are talking about Wrapped NXM and it is ranked #4,663 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Wrapped NXM has an average sentiment score of 100 out of 5. Finally, Wrapped NXM is becoming less newsworthy, with 0 news articles published about Wrapped NXM.
On Twitter, people are mostly neutral about Wrapped NXM. There were 2.33% of tweets with bullish sentiment compared to 0% of tweets with a bearish sentiment about Wrapped NXM. 97.67% of tweets were neutral about Wrapped NXM. These sentiments are based on 9 tweets.
On Reddit, Wrapped NXM was mentioned in 11 Reddit posts and there were 3 comments about Wrapped NXM. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.
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