NEM’s cryptocurrency, XEM, has been doing decently in 2019 despite the fact that it was more popular a few years ago. There are a lot of interesting developments going on for the NEM project.
Traders also wonder where the price will go and if they will make a come back to the top 10 coins.
Let’s find out together!
What is NEM? – Summary
Before we get into the 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 main 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 more mainstream.
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 increases their chance of harvesting a block when they transact more. The concept of staking and token ownership still applies to POI. Transaction fees are given to those who stake XEM.
NEM (XEM) In The Crypto Market Today
NEM’s native cryptocurrency is XEM. The word “NEM” itself refers to the blockchain ecosystem. However, many casual crypto traders usually use the terms interchangeably.
So, how is XEM doing in the crypto market? Well, at the time this post was written, it was ranked 27th 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 large 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 At its peak, XEM was part of the top 10 cryptocurrencies, but now its spot has been replaced by some of the newer altcoins.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 in the next few years?
While it’s hard to predict the market and provide NEM price prediction, usually the crypto market moves in a similar direction. In the days leading to this post creation (October 28th, 2019), altcoins have been rising quite significantly. The 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 for 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 cryptocurrency prices quite significantly. If we want to look to history as a future indicator, Bitcoin price pumped after previous halvings.
A XEM price jump is expected if other altcoins pump. XEM might be able to hit $0.1 or even more if Bitcoin 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 in more money than what you can afford to lose.
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