What's Happening with XEM?

[Nxtblg]

To give everyone a break from Etherium , I'd like to throw this question out: Does anyone have an idea why the New Economy Movement - XEM - took off this morning (ET)? I know they had some great news from last December and January, but is there anything going on now to explain the jump? As I write this, the 24-hour volume on Polo is a little more than 600 BTC and it's pulled back from a ~300 peak to about 265. It's been sneaking up earlier, but on far lower volume than today's.

Any new developments, credible rumours, or is this just another match in the Ultimate Pumping Championship?


(Speaking of the last, Bitshares is taking off too - tho' for how long is anyone's guess...)

[koryu]

I bought in because of ta and because I like xem. There was also news about mijin.
Overall I think xem has not so many bagholders who are under water, so there isn't so much down pressure. Another reason for xem demand is that you need 3 million to run a supernode.

[Nxtblg]

I bought in because of ta and because I like xem. There was also news about mijin.
Overall I think xem has not so many bagholders who are under water, so there isn't so much down pressure. Another reason for xem demand is that you need 3 million to run a supernode.

Yes, there's all that. But the news you mentioned, I acted on myself - when XEM was 67. I could just have seen the pump-of-the-day...

[Nxtblg]

Best answer I've got so far from the NEM official thread:

Recent News Roundup #7

...

Here is some very interesting news..... Devs are working on a secret project code named Catapult.  Code being contributed to it is on a private repository.  No more information at this time.

Work promoting and marketing NEM is still active in Japan by Makoto, Lon, and the Mijin team.  Announcements will be made when contracts are signed, not before.

Ronel, the main marketer and leader of the Chinese community has made some progress with BTC38 with the recent promotion and activity has picked up on that exchange.  A first time we saw movement from China.  We hope that they might consider us for CNY <-> XEM if our volume and marketcap stays up....

These three items might well explain the recent pump. With respect to the first, it looks like "buy the [Catapult] rumour" and/or "buy the [BTC38 listing] rumour fact."

[gentlemand]

BTC38's a very cool deal. The first direct fiat gateway. It's also one of very few coins that's going places in the real world.

But surely the main reason is nothing more than humongous profits left over from ETH having a play elsewhere.