NEM’s cryptocurrency, XEM, has been doing decently in 2019 despite the fact that it used to be much more popular a few years ago. There is a lot of interesting development going on for the NEM project, but perhaps the most important thing is to find out where the price will be and if they will actually make a come back to the top 10 crypto rankings. Let’s find out together!
What is NEM? – Summary
Before we get into NEM price prediction, let’s talk a bit about NEM. We have a NEM Coin Guide if you are interested to learn more. To summarize, NEM is short for New Economy Movement. The goal of NEM blockchain is to become the de facto solution for decentralized apps (dApps) and smart contracts. If you are familiar with the term “smart contract,” you might be familiar with Ethereum. NEM is one of the heaviest competitors to the Ethereum project. Other similar blockchain dApp solutions include NEO, EOS, and Tron.
With NEM, the difference is that they utilize a more common programming language called Java. A C++ version is also in progress, to make the whole ecosystem even more mainstream. And unlike EOS or NEO or Ethereum, NEM utilizes its own unique consensus mechanism called Proof of Importance (POI). With POI, a miner or transaction verifier status becomes more important when he or she transacts more. The concept of staking and token ownership still applies to POI. Block rewards are given to those who stake XEM coins but do a lot of transactions as well.
NEM (XEM) In The Crypto Market Today
Not to be confused, NEM’s native cryptocurrency is called XEM. The word “NEM” itself refers to the blockchain ecosystem. However, many casual crypto traders usually use the terms interchangeably. They just called XEM as NEM because both of them ‘represent’ the same project after all. So, how is XEM doing in the crypto market? Well, at the time this post was written, it was ranked 27th in the crypto rankings by market cap. XEM’s market cap was $378,755,499 USD with more than $50 million daily trading volume.
You can trade, buy, or sell XEM on many decent crypto exchanges, including ZB.com, CoinEx, OKEx, Binance, Kryptono, BW.com, Upbit, Bithumb, DigiFinex, and many others. Two years ago XEM was much more popular than today. At its peak, XEM was part of the top 10 cryptocurrencies, but now its spot has been replaced by some of the newer altcoins.
NEM Price Prediction
So, where will NEM (XEM) price be in 2020 and the next few years? While it’s hard to predict the market and NEM price prediction, usually, the market moves in one similar direction. In the past few days prior to this post creation (October 28th, 2019), altcoins have been rising quite significantly. NEM coin (XEM) price is not an exception. It’s been rising from $0.037 to $0.042 (more than 13%). It is predicted that XEM will keep enjoying its upward movement, assuming that other altcoins keep going up for the rest of 2019 and at the beginning of 2020.
There are several events to watch out in 2020. The first one will be the launch of BAKKT’s consumer app that will allow users to pay for coffee in Starbucks with Bitcoin. The crypto community expects such an event will pump Bitcoin price (and thus, altcoins will also rise). Another event to watch out is Bitcoin’s mining reward halving event. Expected to take place in the middle of 2020, Bitcoin halving might pump cryptocurrencies price quite significantly. If we want to look at past history as a future indicator, Bitcoin price pumped in the same year of the previous halving event (and the year after). 2017’s bull market happened after the 2016’s BTC halving.
And of course, XEM price jump is expected if other altcoins pump. XEM might be able to hit $0.1 or even more if Bitcoin also breaks $19000. Keep in mind that nobody can truly predict the future, so don’t use this article to influence your decision and never put more money than what you can afford to lose in your crypto investments.
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