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.
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Trading Insights
Searched
1
Market Stats
Market Cap
$38.34M
0.44%
FDV
$38.34M
Circ. Supply
656K WNXM
Max Supply
656K WNXM
Total Supply
656K WNXM
Diluted Valuation
$38.40M
Performance
Popularity
Not enough data
Dominance
0%
Volume (24H)
$628.09K
-6.12%
Volume (7D)
$4.63M
Volume (30D)
$20.34M
All time high
$134.14
Price Change (1Y)
-25.68%
Additional info about Wrapped NXM
Recent trends
The latest WNXM price is $58.51. Compared to Wrapped NXM's value of $57.85 from 24 hours ago, there's been a 1% increase, while the current price is 3% up from $57.03 which was recorded one week ago. Wrapped NXM's all time high is $134.14, which was reached on May 12, 2021. This is a -56% change from its price today.
The current circulating supply of Wrapped NXM is 655,956. This is 100% of its max supply of 655,956 WNXM and 100% of its total supply of 655,956. The market cap is currently $38.34M, which is a result of multiplying the current price of Wrapped NXM($58.51) by the total supply(655,956 WNXM). The fully diluted valuation of Wrapped NXM is $38.34M. The diluted valuation of Wrapped NXM is $38.34M.
Market details
WNXM vs markets
↘ 44.23%
WNXM vs BTC
↘ 51.34%
WNXM vs ETH
↗ 8.5%
Tags
defi
insurance
wrapped-tokens
rehypothecated-crypto
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x0d438F3b5175Bebc262bF23753C1E53d03432bDE |
Price history
Time | Price | Change |
|---|---|---|
Today | $58.51 | ↗ 1.13% |
1 Day | $57.85 | ↗ 1.13% |
1 Week | $57.03 | ↗ 2.58% |
1 Month | $47.92 | ↗ 22.08% |
1 Year | $78.72 | ↘ 25.68% |
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 USD currency in real-time. Get the live price of Wrapped NXM on Coinbase.
The current market cap of Wrapped NXM is $38.34M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Wrapped NXM is $134.14. 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 $628.09K.
Assets that have a similar market cap to Wrapped NXM include Thala APT, Wrapped HBAR, Aster asUSDF, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Wrapped NXM is 656 thousand.
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