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NEM (XEM) after a several drops started growing steadily

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NEM (XEM) the altcoin that hasn’t been encountered much on the web in the recent past, although has been plagued with some ups and downs, sitting at $0.1106 on September 5th. It suddenly went towards a downtrend which driven towards a monthly low of $0.0796 on September 12th. However, from that point, it managed to turn towards an uptrend stopping at its first peak at $0.1021. And the rise retained in October and encountered a quick surge of $0.112.


Although, the daily trade volume reached monthly highs on the same day with $28,094,175 worth of NEM being exchanged on the market.
Currently, it is priced at USD 0.105363.
However, the daily trade volume dropped off from the monthly highs and is currently sitting at USD 8,180,046, most of it coming from Binance (13%), B2BX (12%) and Zaif (11%). With a market cap of USD 947,771,339, NEM is currently the 17th most valuable cryptocurrency in the world.

COIN MARKET CAP INSIGHTS

 

NEM (XEM) is turning out to be juicy along with a lot of potential according to trader alanmasters from TradingView.

“Have you looked at NEM (XEMBTC) lately? The charts are looking pretty good. Let me show you some signals that I am getting from the daily chart:

We have increasing bull volume.
Strong bullish divergence MACD.
Bullish RSI / uptrend.
New formed uptrend.
Trading above EMA10 and breaking EMA50.”

The coin wasn’t seen in the recent past news, however, according to reports the firm is working patiently towards their growing project.

However, as the platform is currently smart-contract ready, most of the focus was drawing on the projects currently utilizing the NEM infrastructure. Catapult a He3Labs built blockchain “designed for business data” which lets businesses to run a hybrid or private blockchains in a trusted environment.
And LuxTag, a project focused on providing blockchain-based digital certificates for valuable assets, dropped a video explaining the company’s “story of commitment, innovation, and passion.”

Meanwhile, to get everything going as it was NEM (XEM) also announces a couple of partnerships. Among which Gifto is one platform looking to create the world’s largest mass consumer “token of appreciation” joins the partnership. And through the partnership, with Gifto will improve the NEM blockchain scalability over the next several months, looking to fully migrate there from its current Ethereum base if the tests give satisfactory results.
Apart from that NEM (XEM) also partnered with Portal Network, a fully-decentralized and incentivized platform that provides blockchain protocols and projects along with identical Blockchain Name Service (BNS) standards governed by smart contracts.

Singaporean Institute of Blockchain is also in the deal too with NEM (XEM) where NEM’s blockchain will be utilized for organizing community events and issuing electronic certificates.
Ruden Holdings a Japanese real estate company also finally decided to incorporate the NEM blockchain as a framework for solving its currency settlements.

Although the Bitgrail hack and its subsequent price drop didn’t seem to have demotivated the NEM team. And to replace Ethereum as people’s smart contract platform of choice the NEM team are creating an interesting candidate which include a proof-of-importance algorithm, environmental friendliness, Mosaic tokens, Multisig2.0, spam guard filters, private blockchains, NEM Nano wallets, and a universal API.
The “NEM pill” is also considered by several projects and also decided to work with the platform, including Eroiy, TravelByBit, PundiX, and others. However, the question remains, will this be enough to overtake other smart contract platforms on the market?

Vishal Saha, a guy who often remains obsessed crawling the web, also keeps a deep interest in the world of Cryptocurrency & Blockchain Technology. Apart from being a blockchain reporter, writing is also an integral part of his life and always prefers to be surrounded with geeky stuff, and try to keep up with the current affairs.

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