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Rank #482
Wrapped NXM Price (WNXM)
Wrapped NXM (WNXM)
$11.46 -3.0%
0.00067433 BTC -3.2%
0.00913718 ETH -2.7%
On 5,840 watchlists
$11.36
24H Range
$12.04
Market Cap $33,777,305
Market Cap / FDV 1.0
24 Hour Trading Vol $2,332,815
Fully Diluted Valuation $33,777,305
Circulating Supply 2,947,151
Total Supply 2,947,151
Max Supply 2,947,151
Show More Info
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Wrapped NXM Price Chart (WNXM/USD)

Last updated 09:16PM UTC. Currency in USD.
Live Chart
Need more data? Explore our API
1h
24h
7d
14d
30d
1y
-0.1%
-3.0%
13.7%
19.6%
-35.0%
-81.7%

Wrapped NXM (WNXM) price has declined today.

Wrapped NXM price today is $11.46 with a 24-hour trading volume of $2,332,815. WNXM price is down -3.0% in the last 24 hours. It has a circulating supply of 2.9 Million WNXM coins and a total supply of 2.95 Million. If you are looking to buy or sell Wrapped NXM, OKX is currently the most active exchange.

 

What is wNXM?

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. 

 

What is Nexus Mutual?

Nexus Mutual is a decentralized insurance protocol built on Ethereum that currently offers cover for smart contracts on the Ethereum blockchain, currently covering all the main defi protocols. Nexus Mutual offers coverage against smart contract failures, which protects against potential bugs in smart contract code. In December 2020, it released custody cover covering centralised custodians and lenders such as Celsius, Blockfi, and Nexo

 

How do I wrap/unwrap my NXM token?

  1. After obtaining NXM token through the Nexus Mutual protocol, head to https://je45e4c2q4x52s66qenp5aeyfonfsvkvupkf4ipefkzs364gbera.arweave.net/STnScFqHL91L3oEa_oCYK5pZVVWj1F4h5CqzLfuGCSI/#/

  2. Connect with Ethereum wallet. 

wnxm wrap unwrap nxm

  1. Four new categories will appear: NXM balance, wNXM balance, Can Wrap and Can Unwrap. Fill in the exact amount of NXM tokens that are planned to be wrap/unwrap. Click the approve button and wait for the Ethereum transaction to go through. Then, Can Wrap/Can Unwrap will be updated with the amount approved. 

wnxm wrap unwrap nxm

  1. Proceed to click Wrap/Unwrap and allow the Ethereum transaction to go through. 

 

Can the price of wNXM deviate from NXM?

Yes, wNXM’s price may deviate from NXM’s price. wNXM’s price follows market supply and demand while NXM’s price follows a bonding curve. This bonding curve is explained further on our Nexus Mutual page. 

During normal periods, price deviation will be cancelled out by arbitrageurs. However, when Nexus Mutual’s Minimum Capital Requirement (MCR%) hits 100%, wNXM’s price can drop much lower than NXM’s price. 

This happens when there is a rush to sell wNXM during a liquidity crunch. When the Minimum Capital Required (MCR%) hits 100%, NXM can no longer be sold for ETH through the bonding curve. The only way to sell NXM is to wrap it into wNXM and sell it at an exchange. 

For further information, please refer to https://nexusmutual.gitbook.io/docs/users/docs.

 

Where can I buy wNXM?

wNXM can be obtained through Uniswap (DEX) or Binance (CEX). 

Where can Wrapped NXM be traded?

You can trade Wrapped NXM on OKX, Bitazza, and Binance. Popular trading pairs for Wrapped NXM in the market includes WNXM/USD, WNXM/CAD, WNXM/AUD, WNXM/GBP, WNXM/INR, and WNXM/PHP.

What is the 24 hour trading volume of Wrapped NXM?

The 24 hour trading volume of Wrapped NXM is $2,332,815.

What is the highest price for Wrapped NXM?

The all-time high price of Wrapped NXM is $130.82 on May 12, 2021 (over 1 year).

What is the lowest price for Wrapped NXM?

The all-time low price of Wrapped NXM is $8.14 on Jul 27, 2020 (over 2 years).

Convert WNXM to USD

WNXM
USD
USD

1 WNXM = $11.46

WNXM Price Statistics

Wrapped NXM Price $11.45
24h Low / 24h High $11.36 / $12.04
7d Low / 7d High $10.25 / $12.60
Trading Volume $2,333,240
Market Cap Rank #481
Market Cap $33,777,305
Market Cap Dominance 0.004%
Volume / Market Cap 0.0691
All-Time High $130.82 -91.2%
May 12, 2021 (over 1 year)
All-Time Low $8.14 40.7%
Jul 27, 2020 (over 2 years)
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