With another dark day in the week ending in a drop in value for almost all cryptocurrencies, there could not be a winner here.
That is, if you do not include NEM and its XEM token into the discussion.
Nem rises up in value after compensation from Coincheck
Where other cryptocurrencies were taking a walk somewhere downstairs, NEM quietly enjoyed its ascent after a few days of uncertainty. While this is not a significant jump for the cryptocurrency, it is still a positive move after what seemed like forever not only for NEM, but for all top coins.
One thing that seems to have influenced this is Coincheck’s decision to compensate its users against the horrendous theft from January 2017 which saw more than 500 million XEM being stolen from the exchange. The coins in question had been worth around $30 million at the time of the hack.
Coincheck is providing compensation to its affected users in Japanese Yen by around $0.83, which is about double the amount of XEM’s present day value $0.48.
All in all, it seems like a good day for NEM, as some of those compensated users might just start buying more XEM with their newly returned coins, and that would drive the price even further up for NEM.