What Wrapped NXM represents
Wrapped NXM (WNXM) is a wrapped asset, currently ranked 402nd by market capitalization among the assets we track. Wrapped NXM is not a standalone asset so much as a portable wrapper. It exists to let value from one chain circulate on another, and its price tracks the underlying almost exactly — by design.
Wrapped NXM (WNXM) is a token that represents NXM (Nexus Mutual) in a wrapped format on the Ethereum blockchain, allowing it to be used in decentralized finance applications. It enables users to leverage the protection offered by Nexus Mutual while participating in the DeFi ecosystem.
How the peg to the underlying holds
Because Wrapped NXM is only as sound as its custody arrangement, the key question is who holds the underlying and how transparently. The price peg is robust until that custody is in doubt.
WNXM is not mined; it is issued as a token rather than secured by its own mining or staking layer.
Background & fundamentals
Wrapped NXM first went live in 2017, giving it roughly 9 years of on-chain price history to draw on. CoinPaprika classifies the project's development status as "Working product". In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20).
Where Wrapped NXM sits in the market
At $43.48, Wrapped NXM carries a market capitalization of $41.35M. Around $67.25K changes hands across exchanges in a typical 24-hour window. That is a turnover of about 0.16% of the float — on the quieter side, which can mean thinner liquidity for large orders.
Wrapped NXM carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. The token is roughly -69% under its record of $138.03 — a meaningful but not catastrophic drawdown. Measured from its all-time low of $0.00100500, WNXM is up +4,325,869%.
What the price history shows
The tape currently reads 24-hour +2.07%, 7-day -2.98%, 30-day -3.71%, 1-year -7.43%. Within its stored 365-day daily history, WNXM mounted a low-to-high run of roughly 209% at its strongest stretch.
Volatility profile
Recent action puts Wrapped NXM in the Moderate-volatility band — it shows the kind of price movement common in mid-cap crypto assets — meaningful but not unusual. Over the last 30 days the move totals -3.71%, a useful input for stop placement and position sizing.
How to evaluate a wrapped asset like Wrapped NXM
A grounded read on WNXM comes down to three questions:
- Custody model — who holds the underlying behind WNXM and whether reserves are provably 1:1.
- Redeemability — how reliably WNXM can be converted back to the asset it represents.
- Underlying exposure — remember that holding WNXM is really holding the underlying — analyze that asset directly.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
