Users are being compensated at higher than market prices, making it possible to re-buy the lost XEM coins, lifting up the price.
As expected, the NEM (XEM) price shot upward as soon as trading was resumed on Coincheck, indicating that the price weakness was temporary. XEM added more than 21% to its price in the past 24 hours, regaining to $0.42. The coin is still far from reaching its previous peak against both USD and BTC.
Trading volumes reached over $122 million in 24 hours, with Asian trading still having the biggest share. The booming price of XEM happens at a moment when the markets are still sliding after the big sell-offs in January. But the recovery of XEM is still tentative and the price may slide back.