NEM (XEM) Recovers From Downfall Amid Bankruptcy Rumors
2019 started extremely negatively for the NEM Foundation — the announced restructuring, the appeal to the community and bankruptcy rumors struck the XEM coin severely. The coin’s price declined significantly under the bearish pressure: more than 17% from the initial price during the last week. Now it seems that a period of correction has started since the coin has grown by more than 10% in the previous 24 hours. Currently, it shows good results against the background of a whole bearish mood on the crypto market.
Analysts believe that the coin’s price surged after the announcement that the NEM Foundation has issued a funding proposal. This document governs the financing and restructuring of the project for the current year. At the time of publication, XEM was estimated at $0.038 with a market capitalization of $342 mln. The 24h trading volume reached more than $17 mln.
Image courtesy of Smartereum
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