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.

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 general media. NEM has a market cap of just under $Four billion, which makes it the 11th-largest cryptocurrency according to this metric.

NEM trading volume is presently strenuously concentrated ter 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.

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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 eyed 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, tho’, those tokens are worth just $225 million at market prices.

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

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$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 completo trading volume.

NEM trading volume infrequently eclipses $100 million, so it is finta 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.

3 thoughts on “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.

  1. I do not think that something bad will toebijten with this stock exchange. But all this depends on the honesty of the team. If they are caught for the fraudulent prices of tokens, then they will be te for big problems. And wij, including.

  2. Yes its good to see binance is back and also good news for traders spil well because now a days binance is most popular and effortless to use exchange. Also binance registration is effortless , no need to wait for long time for account approval. Te other exchanges like bittex, poloniex needs to very your account very first for begin trading. And binance service is swift. Good to see again binance resume its trading.

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