AltcoinsAnalysisXEM

Can NEM Break Into Top 5 Cryptocurrencies Club?

NEM – The Dark Horse

NEM (XEM) is known as a dark horse in the crypto community and for a good reason. Despite its position as the 14th largest coin by market cap (which used to be a lot higher), very few investors actually know and understand what this cryptocurrency is all about. The coin owes its rankings to an ever increasing interest from Japan. According to Coinmarketcap.com, XEM/JPY pair accounts for more than 40% of its trade volume. Next in line is XEM/BTC at 15% and XEM/KRW at 12.5%. This means that a combined total of more than 67% trade volume is from Asia.

Below charts are a good indication what XEM stands for and its potential in the long run. XEM moving average (MA) is consistently moving up in a channel since October 2017. Beginning of 2018 was specially exciting for XEM when its price reached an all time high of $2.09 with a total market cap of $16.52 billion. At the time of writing, XEM price was hovering around $0.39 with a total market cap of $3.4 Billion.

XEM USD Analysis
XEMUSD Moving Average Analysis
XEM Marketcap
XEM Marketcap, Source: Coinmarketcap.com

Where Can You Buy NEM?

Top 5 exchanges dealing with XEM are Zaif (Japan), Binance (Hong Kong), Bittrex (US), Upbit (Korea) and Poloniex (US), which account for 71.24% of total XEM trading volume.

What is NEM?

NEM is a smart contract based blockchain platform similar to Ethereum and some say its even better. It has introduced couple of new features to blockchain technology such as proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging and an Eigentrust++ reputation system.

NEM’s blockchain platform was designed and coded from the ground up for scale and speed. NEM’s permissioned private blockchain delivers industry-leading transaction rates for internal ledgers. And its revolutionary consensus mechanism and the Supernode program ensure that NEM’s open, public blockchain can grow without ever compromising throughput or stability.

NEM blockchain features are best in the blockchain world. Can it break into most coveted Top 5 Cryptocurrencies club. Only time will tell but it seems sky is the limit for this blockchain company.

If you like above article then Bloqtimes recommends below articles which might be of interest to our readers.

Is Bitcoin Price About to Crash?
Prepare to be Surprised by Ripple
Negative Things Famous People Said About Bitcoin

This article is published with analysis contributed by Fakhan

Like this article, then support us by sharing it with your friends on social media and feel free to leave any thoughts & feedback in the comments section. If you have any questions or suggestions shoot an email at: contact@bloqtimes.com

Follow us on Twitter and Facebook for latest news

Disclaimer: Cryptocurrencies investments are full of speculative and market risks. This article is only for information purposes and not an investment advice. Please conduct your own thorough research before investing.

Bryan

Bryan is an avid news reader and a crypto investor. You will often find him busy researching about cryptocurrencies on a beach side.

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close