Yeah, sometimes the news of the event has more impact than the event it self, hence the expectations augmented Phillips curve. Interest rates going up has far less impact than the announcement that they will. Once economist realized this they spend a lot more time crafting communication than the policy move.
5%-10% OF THE NEM market cap being sold off will TANK the price temporarily at least.
NEM is Liquid, much more so than many others but even BTC tanks %5-10% if someone dump $30+ million on an exchange. Remember the ETH coinbase flash crash last year? Someone fat fingered a $30 mill market order to sell and it crashed everything.
I am not saying hacker is dumping all at once here but, they are probably selling off and moving around. My guess is into BTC then into Monero for the disappearing act. I am thinking of doing a XMR swing trade on this hypothesis. Thoughts?
IMO, this is depressing NEM more than it should and it is on sale. If you used all the other crypto you would know the power of NEM and why it will eventually take over.
I am a NEMBER 100% and all this FUD will blow over sooner or later. Amazing projects got approved lately. I can’t wait to see the fruits of all this development.