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Here’s What NEM (XEM) Is And Why It’s Running Right Now

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NEM and XEM what's what?
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NEM (XEM) has jumped close to 15% in the last twenty-four hours. This is a coin that’s been hailed as having some real potential in the blockchain space over the last couple of years and it’s very much part of the old-guard of cryptocoins in the space. Until recently, however, XEM has failed to really catch fire but, over the last couple of months, this trend looks to be changing.

Right now, XEM goes for $0.43 a piece. As compares to the USD, this is an all-time high level. We say as compares to USD because back in June this year the coin logged higher levels than is currently the case as compares to BTC but, to keep things simple, we’re going to stick with the USD exchange right now as this is a much more accurate reflection of value from a market capitalization perspective.

NEM Daily Chart

NEM Daily Chart

So, at the start of this year, this one went for $0.003. At the start of November, it had risen to $0.17. As noted above, we’re now looking at $0.43 a coin. That’s an incredible run and it’s very much brought XEM into the crypto-spotlight as the year draws to a close

Anyway, let’s get to the point: is this run going to continue and – if so – what’s going to drive the further upside?

First up it’s worth jumping into the coin and the company behind so as anyone new to NEM can get an idea what it’s all about.

So, NEM is the name of a blockchain technology and it was developed (and is now maintained and advanced) by what’s called the NEM Foundation. The coin, XEM, is a token that’s used to pay transaction fees on the companies blockchain (more on this in a minute).

In some ways, it’s similar to Ethereum, in the sense that it’s designed to allow for so-called smart contracts to be executed and – in turn – to allow for a sort of autonomous operational model. It differs from Ethereum, however, in the sense that it’s a combination of centralized and decentralized solutions. This dramatically increases the integration options (and ease) for and with current enterprise systems.

To put this another way, if a company wants to adopt blockchain technology and incorporate smart contracts into its operations it can use Ethereum but, if it does, it’s basically got to completely rebuild its architecture. On the other hand, it can use NEM and essentially just plug its current architecture into a public blockchain. NEM also allows for private blockchain integration, so the company can build a private blockchain using NEM and then integrate this with its own systems on one side and the public chain on the other side, allowing for easy integration (and the security of a private chain) while also the verification and accountability that comes with a public chain.

The best way to think of this is probably as follows: if you want total decentralization, you’ve got to go with Ethereum. If you’re willing to accept a degree of centralization (NEM operates its own nodes), however, which it’s not unreasonable to suggest that the vast majority of enterprises will be, NEM is probably a smarter, simpler, cheaper, easier and more secure option.

So where does XEM come into this?

Well, a company can build its operational framework using the NEM technology and can set everything up using what the company calls Smart Assets (not that different from smart contracts). In order to execute on these Smart Asset functions, a small amount of XEM is required.

And how does this play into current and future value?

The more companies that use NEM to power their operations, the more XEM is going to be required as a fee settlement token and, in turn, the higher the price will go.

So, as blockchain technology becomes increasingly integral to future industry, we think XEM could be one of the real winners of the adoption wave. It’s still got some way to go, sure, but this just means that current prices might be incredibly low as compares to future capitalization.

We will be updating our subscribers as soon as we know more. For the latest on XEM, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of NEM.io

Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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Bitcoin ETF
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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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What to Expect in 2019: BTC, BAT, and Steem

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There are only a few weeks of 2018 left, and considering how bearish and crypto-unfriendly this year was, a lot of investors will likely be pleased to see it gone. Many believe that 2019 will be the year that will correct BTC prices and bring forth the period of great recovery.

But what does that mean for digital currencies? Which ones are a good investment right now? This is something that we will, hopefully, be able to answer right now. Here are the top 3 coins that everyone should keep an eye on in 2019.

1. Bitcoin (BTC)

Of course, we have to start with Bitcoin, the first and largest cryptocurrency. Bitcoin has lost a lot in 2018, and its losses are unparalleled by any other coin. In fact, in terms of market cap, Bitcoin has lost as much as the rest of the crypto market put together.

Many believe that its rapid growth, which started in late 2017 and has brought it to its all-time high, is responsible. That the bearish 2018 was only a one large price correction of the last year’s price surge. Even if this is true, price corrections, luckily, all end sooner or later, and when this one comes to a close, Bitcoin will likely be ready for a big comeback.

2019 is expected to bring a lot that will serve BTC’s…

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Altcoins

The Three Biggest Problems with Crypto

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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

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