Why did xfi coin plunge (why did xem coin fall)?

Why did xfi coin plunge? The recent trend of xfi coin is closely related to the price of xif coin.

First of all, the price of xfi has dropped by more than 80% yesterday; secondly, the xfi transaction fee has increased by over 10%; the third issue is that the market is unfamiliar with xfi coin, leading to a plunge in XFI coin; finally, we can see that the market fluctuation of xfi coin is relatively large, and many exchanges are starting to close, but people can still pay attention to xfi coin. So today we are going to talk about why it suddenly plunged, the reasons for the sudden rise of xFi coin: (1) Exchange theft. After a exchange is hacked, the user’s funds will be transferred to a new platform or wallet for money laundering. (2) Users do not have enough assets to guarantee their own investment, and cannot guarantee that your investment behavior will get returns and rewards. (3) Miners sell off. Miners will sell the mined bitcoins and exchange them for more ethers. (4) Users are unable to pay for mining machine fees (if any).

Why did xem coin fall

Why did xem coin fall?

According to btcmanager news, after XEM prices soared to nearly $2 on June 17, they continued to fall. Most members of the xem community believe that this may be due to the impact of project team manipulation on the market. Therefore, they reduced the holding time of tokens from 8 days to about 3 days. “If someone tries to sell tokens to obtain high valuations, they may lose 1 trillion Korean won (worth about $30 million).” According to data from the analysis website Bitcoin.com, Xem has risen more than 4 times since May. However, a large transaction occurred in the recent hours, causing a rapid drop in xem’s price. The CEO of the exchange, BobbyOng, said that this fluctuation is “very strange”: “I know this idea is ridiculous… but you can’t say it has no problems.” It is reported that “these transactions may just be a speculation, as many users choose to purchase and exchange with their wallets, and then deposit them into the exchange.” So you will find that most people tend to sell assets to seek profits to some extent – which is what we see today.

It is currently unclear why xem suddenly fell. Although some investors have realized this fact and attributed it to xem itself, others have pointed out that as the market environment becomes more stringent, they are turning to hedge tools. For example, cryptocurrency analyst WillyWoo recently tweeted, “People generally bearish on xem coins.” “This is a huge mistake,” he emphasized, “Now a lot of funds are being cashed out”, but he added that this behavior is not for speculation, but “using xem for quick money bets.” He also explained that although xem is a viable digital gold, its market value is relatively small. “This is a surprising investment event,” WillyWoo wrote. He said that the price trends of bitcoin and other major cryptocurrencies are similar to other digital assets, and they are dominated by different mining pools. He said that they “are not eager to sell tokens.” In addition, he also mentioned that bitcoin mining requires more computing power to operate. “If we can find a way to make our network more secure and able to support more functions, then we will have a more reliable and better system than bitcoin. When your node cannot run, you can mine new blocks with it.”

The original article is from bitcoinist, compiled and translated by the BluemountainLabs team. The English copyright belongs to the original author. Please contact the editor for Chinese reprint.