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It was indeed a really big pump and dump action. I didn't think that this would be possible for a (actually) well-distributed coin like NEM :/
Don't forget that you have to take into account volume!
Can you really draw a conclusion about how most people value their XEM when the total volume for the last 24 hours is just over 1% ??
I think most of today's volume is bots,investors and some impatient people that take the opportunity to sell which may in fact be based on very limited knowledge of NEM for everyone who's selling.
1% daily volume is the average of any successful coin. Do the the math for Ethereum. There are around 62M ether = 248,000 BTC based on todays exchange rate. The average daily Ether volume is around 2000 Ether. which is almost 1%
XEm 24 Hour Volume $294, Ether 24 hour volume: $4022. That is nearly 1,500% percent more value.
Percentage wise: XEM 0.24%, Ethereum 3.32%, do you just make up stuff in your own head?
xem 24 hour volume is sitting at $9634.........
