Tanya Abrosimova
Independent Analyst
- Coincheck has paid the compensation to the customers out of its own pocket.
- NEM/USD is rising, but the upside may be short-lived
Coincheck paid the compensation to the NEM holders affected by the hacker attack that resulted in 523 million units of NEM tokens stolen from the Coincheck customer accounts. The company used its own money to settle the issue with 260,000 users that lost their digital coins.
The Wall Street Journal reports that customers received the compensation in yen at a rate of 88.549 yen per NEM, which is higher than the current exchange rate of the coin.
The news maybe behind the stellar rise of NEM/USD that jumped from $37.01 at the beginning go the Asian session to the current rate of $38.01. Many traders write in social media that they will buy more crypto with the money received from Coincheck. The upside is likely to fizzle out together with the hype created by the happy NEM holders.
The resistance is seen at $38.65 (50-DMA) and $39.50. On the downside, fresh buying interest may appear around daily lows at $37.00. NEM/USD is still 10% lower from its peak value $24.00 reaches on January, 24.
NEM/USD, the daily chart
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