The price is shooting up on Poloniex
any specific reason for that surge ?
Lon Wong confirmed President / leader of NEM. He was the guy who sent NEM up to $30-$120 million back in 2016.
Price started to explode today when the news was shared to the public on telegram and bitcointalk.
Why does NEM need a President/ leader at all ?
You've been around since
2013 and you're asking this question?
Maybe it's because you're from an older generation of crypto, like me and back then everyone was strongly Libertarian, but the current generation of new adopters are not interested in projects without identifiable leaders or public foundations. Someone like SunnyKing (Peercoin creator who remained mostly anonymous) wouldn't get far today if he was starting a new project because he hides in the shadows and doesn't do anything in the real world.
Public leaders and public foundations are important for attracting volume and capital and business relationships.
Lon Wong is very credentialed and had a good success record so he will inspire confidence in NEM. As I said, his appointment of President was an unexpected surprise because people thought he was focusing on DragonFly Fintech and other businesses.
NEM did 2300% ROI in 2016. I think it will do very well in 2017.