There's no issue that I can think of that might harm the price, but the pump was the cause of the increased APY they have a promotion campaign for those who want to farm, and whales take the opportunity, but when the promo ended the prize started to drop, I cannot trade my stakes because it is locked, I was able to trade my remaining Nominex token that was released, to USDT to protect my profit, I just hope they will continue doing promo and marketing, they need to keep up the exchange industry has stiff competition.
Most alarming thing on the price drop is that Nominex staff keeps commenting in their telegram channel with their official statements, telling that there's a group of people trying manipulating the price. Constantly commenting on the price movements of an utility token and trying to control it is a huge red flag on any regulated space. I am not sure if this is something Russian regulators would allow but anywhere else in the world regulators would frown on this behavior.
They should just shut up about the price and i would feel lot of more confident with this.
And are they really sure that there's a group of people manipulating the price? I just checked today and their price is going down, instead of going up. Bitcoin and other popular alts are on the rise, whereas, NMX is going down. Something is wrong with this situation. NMX team should offer another promotional activity to gain the interest of traders or followers. Otherwise, even their ranking is going down, from about 200+ and now down to 344, which is not a very encouraging scenario to its farmers/investors.