NEM current price is €0.4771 with a marketcap of €4.31 B. Its price is 10.10% up in the last 24 hours.
- NEM (XEM)
- Live Price €0.4771
- Market Cap €4.31 B
- Volume €584.46 M
- Available Supply 9.00 B XEM
- Rank 16
Technical analysis, backgrounds and info on this crypto coin
Besides NEM (XEM) is of the popular cryptocurrency (measured by market capitalisation). This cryptocurrency has become more and more popular over years. Given the plans for the future, many insiders have high expectations of the NEM (XEM) price. Of course you can trade and/or invest in NEM (XEM) as well. On this page you'll find basic statistics and characteristics of NEM (XEM). Furthermore you'll find info regarding the NEM (XEM) price, basic technical analysis and a brief explanation of the story of NEM (XEM)
Current NEM (XEM) price
Please see below the NEM price chart as provided by our home broker.
Onchain Metrics NEM (XEM)
If you want to perform a technical analysis of NEM and decide whether it is the right time to trade or invest, please check the on-chain metrics as provided by our partners of Into the Block.
These On-chain metrics are updated once a day (rondabout 11 pm est, which is 5 am Dutch time). If you want to check the latest update, please dive deeper into the On-chain metrics of our metrics partner IntotheBlock.io.
Furthermore, we provide you with the price chart and historical data for NEM (XEM) at the bottom of this page. Before we get there, we provide you with the upcoming agenda as well as some backgrounds and info on NEM.
The NEM agenda
In order to provide you with an accurate overview of coming NEM agenda items and events, you'll find our NEM agenda below.
If you are interested in the agenda items for other cryptocurrencies and/or the most important economic items on the macro-economic agenda, please visit our calendar page.
What is NEM?
Who created NEM?
NEM started in its pre-production stage as a conceptual hard fork of NXT. However, the community behind it decided instead to start a new platform from scratch using totally original code.
The project heads originally wanted NEM to house its blockchain network on Microsoft's Azure, a cloud-based platform. After spending a "considerable" amount of time reading the terms of the agreement required for Azure users, NEM decided not to sign the agreement, citing conditions that would force them to give up certain rights. Instead, they decided to pay Microsoft to put NEM on the Azure cloud as a docker, which would make them a customer of Microsoft and would not require them to waive rights.
In January 2018, Coincheck, one of the largest cryptocurrency exchanged in the world, was attacked by hackers who stole $534 million worth of XEM. Unlike the similar attack on the cryptocurrency exchange Mt. Gox in 2014, the response to this attack began before major media outlets began widely reporting the story. Coincheck promised to refund the value of the XEM stolen from nearly 260,000 of its users. The NEM Foundation announced that they were tracking the stolen XEM tokens, citing the flexibility offered by utilizing their API for the task.
The exchange raised millions of dollars from venture capitalists including Andreessen Horowitz, Paradigm Venture Capital, Union Square Ventures LLC and ParaFi. NEM’s average daily trading volume is $220 million. Traders and investors have utilized NEM because of its usage in decentralized finance (DeFi)
What is the purpose of NEM (XEM)?
Many banks around the world have come to accept the importance of blockchain technology. In fact, a good number of banks in the U.S, India and Japan have already started using the technology. Because banks generally employ the smart contract concept, NEM’s platform which is asset-friendly can be used to settle any asset. In settling assets, speed, security, and reliability are very important to a mainstream institution which is what this crypto offers. NEM addresses these issues by repackaging its blockchain into a private chain and presenting it as Mijin.
NEM (XEM) nowadays
Essentially, NEM is designed as a financial blockchain solution and can be used for payment, clearing and settlement in a private environment which is highly controlled. This means that NEM meets several of the regulatory requirements and guidelines in the financial industry. This allows it to be used to settle (change of ownership) any asset via the blockchain. Mijin which is a private chain of NEM has gained popularity and companies such as Hitachi have already embraced it.
The future of NEM (XEM)
POI is the algorithm used in NEM to time stamp transactions. A NEM user's importance is determined by how many coins they have and the number of transactions made to and from their wallet. POI uses the NCDawareRank network centrality measure, the topology of the transaction graph, as well as a number of other relevant signals to achieve consensus. POI is different from other initiatives which use a fee-sharing model that does not take into consideration one's overall support of the network. In proof-of-stake systems a person needs to have large numbers of coins to form a block, but in NEM transactions volume and trust become factors. This was designed to encourage users of NEM to not simply hold XEM but instead actively carry out transactions.
To be eligible for entering the importance calculation, an account must have at least 10,000 vested XEM. All accounts owning more than 10,000 vested XEM have a non-zero importance score. With a supply of 8,999,999,999 XEM, the theoretical maximum number of accounts with non-zero importance is 899,999. In practice, the number of actual accounts with non-zero importance is not expected to approach the theoretical max due to inequalities in held XEM and also the temporal costs associated with vesting. If NEM becomes very popular, a threshold of 10,000 vested XEM could be undesirable.
Further technical analysis of this coin
For further technical analysis you’ll find the current price chart and overview of historical data at the bottom of this page. Do you need more on-chain metrics? You can find these on the site of our on-chain metrix partner IntotheBlock.
Do you want to trade in this crypto?
If you want to trade in this cryptocurrency you might consider to sign up with one of our home exchanges: Changelly, CEX.io or Binance. When your mother tongue is Dutch or French you might also consider Bitvavo. If you want to know more about choosing the right crypto exchange, please visit our crypto exchages page.
Please note that our site does not provide any financial advice. The statistics and information shown are solely provided as possible source for your own research on (investing in) crypto and/or for educational/entertainment purposes. Despite our efforts to present information in a right and timely manner we will not accept any responsibility for any shortcomings in the data and/or information provided. Furthermore please that this site uses affiliate links. This means we might earn a contribution in the costs of operating this site and providing free information if you decide to click on (one of) the links issued.