NEM Price Leaps 16% spil Other Top Coins Tumble

The NEM price surged 16 procent on Tuesday, defying the bearish trend that characterized every other top-tier cryptocurrency.

NEM Price Surges 16 Procent spil Other Top Coins Tumble

It wasgoed a disappointing day for cryptocurrency investors, spil 97 of the top 100 coins posted single-day declines. However, the NEM price (XEM) not only resisted this bearish trend – it actually managed to achieve a double-digit percentage increase against the US dollar.

At present, NEM is trading at $0.44 on Poloniex, which is toughly te line with the token’s universal promedio. NEM has a market cap of just under $Four billion, which makes it the 11th-largest cryptocurrency according to this metric.

XEM Price Chart | Source: TradingView

NEM trading volume is presently intensely concentrated te Asian markets, with the majority of it denominated ter fiat trading pairs. South Korea-based Upbit’s XEM/KRW market accounts for just under 33 procent of all NEM volume, while Japanese exchange Zaif’s XEM/JPY pair comprises another 26 procent.

XEM Trading Volume | Source: CoinMarketCap

NEM Price Rises spil Coincheck Compensates Users for Record-Setting Theft

NEM’s rally has correlated with Japanese cryptocurrency exchange Coincheck’s announcement that it wasgoed beginning to refund customers who lost NEM tokens (XEM) spil a result of the January theft that witnessed hackers abscond with more than 500 million XEM.

Spil CCN reported, those tokens were worth $530 million at the time of the hack, making it the single-largest cryptocurrency theft ter history, spil measured by USD value. Today, however, those tokens are worth just $225 million at market prices.

However, Coincheck is compensating users at 88.549 JPY vanaf token (

$0.83) – almost dual the present exchange rate – for a total payout of approximately $415 million. Presumably, most users will use their refunds to purchase NEM tokens, and – given the disparity inbetween the refund price and market price – it is likely that many will increase their holdings overheen what they had before the hack.

Indeed, this emerges to be the case, spil Zaif’s XEM/JPY pair accounts for more than one-fourth of NEM’s general trading volume.

NEM trading volume infrequently eclipses $100 million, so it is quiebro conceivable that the Coincheck payout could place significant upward pressure on the NEM price – if investors proceed to inject those funds back into XEM markets, that is.

Featured picture from Shutterstock.

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3 thoughts on “NEM Price Leaps 16% spil Other Top Coins Tumble

  1. The crypto-exchange listing includes 126 crypto-coins, verification is optional, takes the very first place ter terms of the volume of daily trade – why not? The disadvantage is the lack of financial resources.

  2. I can’t even imagine if a good exchanges like Binance will be down due to some hack issues. Thanks that they are back and business spil usual. The good thing nothing had reported of such a lost of coins after the shutdown. Hope that they will improve more spil many users will trust to them spil one of best exchanges ter crytobusiness.

  3. I suggest you never keep all your funds ter the crypto exchange since it’s not very safe since you never know what might toebijten ter the future. Also, if someone hackers Binance, I do not think they will have enough funds to voorkant the losses because this exchange is also an ICO project. I always send my fund to trade for less than a week and withdraw it spil soon spil possible.

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