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Live WNXM Price Analysis
The current real time Wrapped NXM price is $39.59, and its trading volume is $1,637,625 in the last 24 hours. WNXM price has plummeted by
1.58%
in the last day, and increased by
0.68%
in the last 7 days. It's important to note that current Wrapped NXM market capitalization is $26,463,383, Talking about circulating supply, WNXM has 668,361 coins. Currently, Wrapped NXM rank on the market is #488.
Wrapped NXM price today is
70.48%
below
all time high, and it is
2,227.28%
above
all time low.
All data and prices are updated in real-time. The most active and popular exchanges for buying or selling WNXM are Binance, Kucoin & Kraken. Find more crypto exchange options on our Crypto Exchange Tracker. The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor.
What Is Wrapped NXM (wNXM)?
wNXM is a wrapped version of the NXM token, which is the native token of the Nexus Mutual Protocol. It’s an Ethereum-based decentralized insurance protocol that provides coverage against failures for smart contracts on the Ethereum blockchain.
The NXM token is used to purchase coverage, vote on decisions considering the development of the protocol, and so on. However, in order to utilize NXM tokens on the Nexus platform, users must undergo the Know Your Customer (KYC) process.
Wrapped NXM tokens, on the other hand, are KYC-free. Therefore, they allow traders to own NXM tokens without going through that process. However, wNXM tokens cannot be used on the platform until they get unwrapped, and only registered Nexus Mutual members have the right to unwrap them.
Besides, it’s important to note that the Wrapped NXM price can differ from the NXM price. This is the case because the latter follows a bonding curve, while the wNXM price follows the supply and demand of the market.
Normally, when the Minimum Capital Requirement (MCR) of NXM tokens is sufficient, the difference between wNXM price and NXM price is eliminated by arbitrageurs. MCR is the amount of money the mutual requires to have the utmost confidence that it can cover all claims. However, the Wrapped NXM price can decrease below the price of NXM if the MCR reaches 100%.
What's Wrapped NXM trading volume in the last 24 hours?
WNXM has a trading volume of $1,637,625 in the last 24 hours.
What's Wrapped NXM highest price ever?
WNXM has a highest price of $134.14, which was reached on May 12, 2021 (3 years 11 months ago).
What's Wrapped NXM lowest price ever?
WNXM has a lowest price of $1.70, which was reached on Dec 11, 2022 (2 years 4 months ago).
What are the best exchanges for buying and selling WNXM?
What are the safest hardware wallets for keeping WNXM?
According to an in-depth review process and testing, Ledger and Trezor are one of the safest and most popular hardware wallet options for keeping Wrapped NXM. For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory.
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