Last week was a rough week for crypto. Will this week be any better? We’ll check in with three coins to see how they’re doing.
Although many coins are down at the moment, NEM (XEM), Cardano (ADA), and Dash are all currently up.
NEM is currently selling for $0.386898, putting the coin up 10.09% in the past 24 hours.
On January 26th, 2018, the Japanese cryptocurrency exchange Coincheck was hacked and about $534 million worth of NEM was stolen. Coincheck authorities quickly released a statement that they would ensure the hack victims were repaid for their losses, and this promise has been repeated several times since. Now, Coincheck is following through, releasing a press release today confirming the payback is happening today.
The press release states that those users in possession of NEM on Coincheck that day at 23:59:59 JST will be repaid 88.5 Japanese yen (approximately US$0.83) for every one NEM they held at the time. It’s possible, therefore, that those that are being repaid are now using the money to repurchase NEM, which could explain why it’s currently up.
Cardano is currently selling for $0.222554, putting the coin up 4.22% in the past 24 hours.
Although Cardano is still up right now, it does look to be spiraling downwards, so it’s difficult to say whether it will still be up in a few hours from now.
Cardano’s movement is likely due to general crypto market movement, as there is no recent news directly connected to ADA.
Dash is currently selling for $516.53, putting the coin up by only 0.66% in the past 24 hours.
Dash is on the cusp of dropping back down into the red, especially given the fact that it is no longer climbing.
The most recent news from Dash is a tweet from March 9th stating that the Dash Telegram group has been compromised – unlikely to have much effect on Dash’s price but good to be aware of.
Dash Update: Not surprisingly, based on its earlier declining movements, Dash has dipped into the red now. The altcoin is currently down 8.66% in the past 24 hours, the price dropping below $500. Further drops may continue.
Although these coins are up right now, the positives may not continue for much longer, bringing the crypto curse from last week into this week.
Featured image: geralt