NEM ($XEM) worth holding for the Symbol ($XYM) drop?

[topshelfcrypto]

XEM will drop XYM (Symbol) at a 1:1 ratio in a couple days.  I expected this to help drive the price up as people accumulate for the snapshot, but in the past week price has been slowly falling.  I remember this happened once with some shatcoin back in the 2017 run, there was some hype around a token drop at a snapshot, but as everyone was holding the coin off exchange in the required wallets the price tanked even before the snapshot, ended up not being worth it, lost more in the trade than made up for in the new token.  What are you thoughts on this XYM drop?   NEM is hyping the shat out of it, but I don't see much chatter about it on social media, making me wonder if it's a non-event and maybe better off taking profit in case price keeps heading down.

[1714892268]

1714892268

[DaMut]

the price already went up for almost 100% in the last two months after they postponed it. the price could go up a little bit before the snapshot begins, but do not expect something big will happen because this kind of thing is not our trend anymore. at least it will go up for another 20% a few hours before the snapshot, just like what happened with qtum a week ago.
if you are already up from your position, I think it would be best for you to sell the majority of your holding and only hold a few in case something big happens. never put all of your egg into one basket at once.

[Bttzed03]

I have no idea what XYM is all about. There's a common pattern among these announced holders airdrop. The price usually tanks a few days before the actual snapshot and shoots up again. This has happened in Waves and IOST drops as well. Maybe some whales trying to take advantage of the event.

~ if you are already up from your position, I think it would be best for you to sell the majority of your holding and only hold a few in case something big happens. never put all of your egg into one basket at once.

Or you can wait until the snapshot happens and sell all within the first minute You are already in profit and you're also getting new tokens.

[akirasendo17]

it is worth it if you are holding NEM not only that it already gone up, but also the free money you will get when Symbol is airdrop for the holders, who knows how much will be the price, it's still a profit, for holding Nem and XYM drop you get 2x profit from both coins by just holding XEM, also see some upcoming projects that might get the price to reach more than 1 USD, as the price last 2017 still not reach while other coins already reach or surpass their old all-time high.

[Strongkored]

XEM is old Coin and still widely listed on many exchanges, but if you want to take part in these snapshots you have to really do the calculations so that the goal of getting profit from XYM can be achieved.
Usually, when core coins that will hold snapshots will impact the price, but if the opposite happens it could be that traders prefer to keep BTC because the price has gone up again this week.

[leea-1334]

XEM will drop XYM (Symbol) at a 1:1 ratio in a couple days.  I expected this to help drive the price up as people accumulate for the snapshot, but in the past week price has been slowly falling.  I remember this happened once with some shatcoin back in the 2017 run, there was some hype around a token drop at a snapshot, but as everyone was holding the coin off exchange in the required wallets the price tanked even before the snapshot, ended up not being worth it, lost more in the trade than made up for in the new token.  What are you thoughts on this XYM drop?   NEM is hyping the shat out of it, but I don't see much chatter about it on social media, making me wonder if it's a non-event and maybe better off taking profit in case price keeps heading down.

The good old days when I actually had NEM. Just saw the price now and I think I actually saved myself more problems by dropping it then,,, and I doubt any airdrop it can make now can make me return to using it.

Very normal to happen, not just to shatcoins, look at Tron and others for these useless drops. Definitely a non event sorry to say.

[masterrex]

There's no guarantee about it, even the hype of airdrop was involved, in my opinion, theirs no significant effect on changing its symbol or ticker in terms of price increases but one thing is certain the price will fall after the event was taking place, and I believe thats normal because of the selling pressure. XEM or XYM for me it has no big deal so let us wait and see what will happens next.

[DaMut]

~ if you are already up from your position, I think it would be best for you to sell the majority of your holding and only hold a few in case something big happens. never put all of your egg into one basket at once.

Or you can wait until the snapshot happens and sell all within the first minute You are already in profit and you're also getting new tokens.

but sadly you can not do this when you are holding it on an exchange like Binance, because they will hold your coin for a few hours or even a few days before unlocking it.
it is not worth the risk if you are going to choose this way.
I still recommend my suggestion above, but if you are still insisting to hold it into the last minute for the sake of trading. it would be better to choose an exchange that does not support the snapshot, they will not hold your balance when the snapshot begins and in there you can sell it as soon as possible when the snapshot happens or begins.

[casperBGD]

There's no guarantee about it, even the hype of airdrop was involved, in my opinion, theirs no significant effect on changing its symbol or ticker in terms of price increases but one thing is certain the price will fall after the event was taking place, and I believe thats normal because of the selling pressure. XEM or XYM for me it has no big deal so let us wait and see what will happens next.

anything could happen before the airdrop, but what will happen after is the question
XEM could plunge in a matter of minutes after snapshot, because the most of the rise is because of airdrop, and XYM will be supported afterwards, I am not sure for XEM, what will be the purpose after transition to Symbol platform

[Bttzed03]

~ if you are already up from your position, I think it would be best for you to sell the majority of your holding and only hold a few in case something big happens. never put all of your egg into one basket at once.

Or you can wait until the snapshot happens and sell all within the first minute You are already in profit and you're also getting new tokens.

but sadly you can not do this when you are holding it on an exchange like Binance, because they will hold your coin for a few hours or even a few days before unlocking it.

Really? AFAIK, they only suspend deposit and withdrawal for a particular time before the snapshot happens but trading is unaffected. When was the last time you joined a holders airdrop? The last one I've seen and participated was IOST. I forgot to set the timer that time but I was able to sell within the first hour. I've read other comments selling within five minutes after the SS.


@topshelfcrypto, we should see interesting movements on Binance today until tomorrow.

The snapshot for the airdrop will take place at the XEM block height of 3,105,500 or approximately 2021-03-12 00:50 AM (UTC).

[hd49728]

@topshelfcrypto, we should see interesting movements on Binance today until tomorrow.

The snapshot for the airdrop will take place at the XEM block height of 3,105,500 or approximately 2021-03-12 00:50 AM (UTC).

About one day left for the snapshot and XEM is still in the week of correction. Today is the 9th day of the on going correction. The chart presents that its price is falling to the support and can rally for the tomorrow snapshot. Without the snapshot, I think it is possible for a bounce when a coin touches a support. The snapshot supports further for a bounce.

I will enjoy the bounce if it happens in next day.

[Bttzed03]

~
About one day left for the snapshot and XEM is still in the week of correction. Today is the 9th day of the on going correction. The chart presents that its price is falling to the support and can rally for the tomorrow snapshot. Without the snapshot, I think it is possible for a bounce when a coin touches a support. The snapshot supports further for a bounce.

I will enjoy the bounce if it happens in next day.

I had my buy orders set up at 900 sats when I found out about the airdrop but it didn't hit

If it follows the trend I mentioned the other day, we should be seeing a good green candle soon and then another drop right before the snapshot. A lot of these people doesn't care about the XYM airdrop, they're more than happy just taking profits.

[orions.belt19]

It's quite expected for the price to drop before the event and since the airdrop is coming up soon, people may have been already selling because they already took profit. There are those who don't bother with the airdrop and just rode in to take profit knowing that the price will go up leading up to the event. It's up to you if you really want to hold and wait for the airdrop to get some $XYM but just keep in mind that its likely that there will be a dump. I suggest you do more research on NEM to determine which is more worthwhile.

[hd49728]

I had my buy orders set up at 900 sats when I found out about the airdrop but it didn't hit

Did you set your order at one price only? I set my orders at different price in the range I want to accumulate.

If it follows the trend I mentioned the other day, we should be seeing a good green candle soon and then another drop right before the snapshot. A lot of these people doesn't care about the XYM airdrop, they're more than happy just taking profits.

You are genius. 

They can see airdrop and drops after the snapshot as risks and try to avoid it.

It's quite expected for the price to drop before the event and since the airdrop is coming up soon, people may have been already selling because they already took profit. There are those who don't bother with the airdrop and just rode in to take profit knowing that the price will go up leading up to the event. It's up to you if you really want to hold and wait for the airdrop to get some $XYM but just keep in mind that its likely that there will be a dump. I suggest you do more research on NEM to determine which is more worthwhile.

I don't care about the airdrop and what happened with NEM. 40% of correction from the peak is enough for me to take it. In bull market, project won't be killed in one day, won't die for nothing. The coin was pumped now in correction and I will see its rally.

[Bttzed03]

I had my buy orders set up at 900 sats when I found out about the airdrop but it didn't hit

Did you set your order at one price only? I set my orders at different price in the range I want to accumulate.

On this case, yes as I expected to drop more when it was hovering above 1000 sats but it bounced off at around 970 unfortunately. I've adjusted since then and waiting for the whales to move in. Maybe another rally to 1500 sats or even higher. We'll see

~
I don't care about the airdrop and what happened with NEM. 40% of correction from the peak is enough for me to take it. In bull market, project won't be killed in one day, won't die for nothing. The coin was pumped now in correction and I will see its rally.

Yeah, another thing is that it's not like NEM is a new project planning to exit scam.

[topshelfcrypto]

The NEM block explorer website keeps going down, haha, less than 50 blocks away now, and probably traffic overload as everyone trying to know the exact moment.

[Bttzed03]

^ Yeah, I thought it was just my connection but one explorer was really down. I was monitoring blockheight at http://chain.nem.ninja/#/blocks/0

It's already time but less than five blocks before the snapshot and they already bombed the order books from 1000 sats to sub 700 sats  That was quite brutal

Lucky are those who caught the dump. I hope those who got stuck holding will see a nice rebound a week from now,