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NEM Price Surge After Expanding To Australia

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NEM price starts the week with an increase

The new week seems to be off to a pretty good start for several altcoins, with NEM price currently leading when it comes to gains. Following the weekend, NEM started experiencing a surge of its own, with its value exceeding $0.1. In the world of cryptocurrencies, price surges often start during the weekend, and by the time Monday arrives, they have already blown over. By the time a new week starts, altcoin trading returns to the red, which is where it stays for a while. However, it would seem that this week will be different.

While many other altcoins do trade in the red, as expected, NEM price started growing and has easily surpassed $0.1. This is a result of a 5% growth, and it is not too unusual since a lot of altcoins are known to suddenly grow, only to experience a price reduction later. Experts agree that his event might go through the same experience, despite the fact that it is slightly different than what usually happens.

This is a nod toward several interesting developments regarding NEM that the coin has experienced in the last few days. One of them might be particularly responsible for the new situation, and that is a new partnership with CloakCoin. Partnerships between altcoins are becoming more often, which is an interesting development, as it indicates strength and promises that projects will remain relevant.

NEM grows popular in Australia and the Philippines

Additional big move regarding NEM is the fact that its team has recently announced setting up a blockchain hub in Melbourne, Australia.

Australia is seen by many as a decent location for crypto development due to less strict regulatory measures. It is still unknown whether NEM will be able to achieve its full potential thanks to this new move, but investors remain optimistic.

Finally, NEM price also might have grown thanks to additional attention gained from a new video by Jeff McDonald, NEM’s advisor.

In the video, McDonald goes into depth while trying to explain blockchain technology. Considering that this took place in the Philippines, it is not surprising that NEM received a greater amount of attention in this part of the world.

After all of these events, NEM price started yielding results, and the coin reached a $0.1 mark without resistance. At the time of writing, the NEM price is at $0.100494, with a growth of 4.16%. Whether this trend will continue or not — still remains to be seen. In any event, NEM is currently one of only a few coins that are trading in the green.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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