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NEM (XEM) Gears up for an Upswing with Exciting Partnerships

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With the crypto market touching $400 billion this year, the market has experienced a boom in the third generation decentralized applications (Dapps). Blockchain technology, which has made remarkable advancements over the past few months, has moved beyond Bitcoin and Ethereum. As the rival currencies soar in numbers, altcoins like NEM are renewing investors’ interest in the blockchain.

Functional since March 2015, NEM has recorded a steady progress. When compared to its peers, NEM’s performance has been consistent for the most part of the year. While big names like Bitcoin and Ethereum are the most vied-after investment options, they are frequently criticised for their security breaches, price volatility, and high transaction fees. Supported by top-notch security protocols and its unique Proof of Importance (POI) algorithm, NEM has cemented its place in the mainstream crypto space. The following segments explore the latest developments on the blockchain, which include some game-changing partnerships.

Multiversum Announces Partnership NEM and ProximaX

As a dynamic blockchain platform, NEM has made some interesting upgrades in the system, drawing thousands of investors around the globe. The blockchain, which released SDK Version 0.9.3 to support NodeJS 10, has announced XPOS implementation. Besides these upgrades, the blockchain network has anchored its position in the community with some influential partnerships.

Right after the New York Consensus in May, a partnership between Multiversum, NEM, and ProximaX was announced. As per the agreement signed by the founders of the three projects, the partnership aims to integrate Multiversum’s decentralized relational database with the NEM and ProximaX. Speaking of the prospects of the partnership, the Multiversum founder Andrea Taini observed, “Our vision is to develop together a set of tools to be integrated into a sort of Decentralized Operation System. A system that would meet every decentralized application needs. Multiversum provides a decentralized DataBase to secure data in the blockchain, ProximaX from its side provides a decentralized space system to store secure files and managing data streams, and lastly, NEM assists this integration with several tools, representing the engine of the decentralization. Thus, a perfect conjunction of knowledge and capability.”

NEM Ties up With BitPrime 

Among the more recent announcements, NEM’s partnership with BitPrime has become the talking point in the crypto space. According to the update released on medium, the Christchurch-based BitPrime platform will work with NEM Foundation to create a more secure and compliant digital platform to the New Zealand- based residents, enabling them to execute faster transactions with NEM tokens.

Recognised as one of the top retailer platforms, BitPrime is a trusted New Zealand-based platform, specializing in more than 50 cryptocurrencies. With both the teams making the partnership official, there will be a launch event in June to auspicate the partnership through an XEM airdrop and other important incentives. Regarding the announcement of the partnership, NEM’s expansion Director for Australia and New Zealand, Jason Lee reported, “Firms like BitPrime are a key part of the blockchain and cryptocurrency ecosystem. This partnership will signify a big win for both parties because of the shared commitment to help ordinary members of the public and enterprises to understand and trade cryptocurrency”.

Other Developments

The new partnerships, which are meant to bolster NEM’s global reach, mark the beginning of a new phase for the blockchain. The altcoin, which is on the rise, has made many other notable upgrades within its network. Tracing the developments on the blockchain, the tie-up between Tutellus, NEM, and Cryptonomos has created waves in the market. Besides this, other exciting developments, such as FreeMarket’s decision to utilize NEM Blockchain to solve volatility in smart contracts, created fresh interest in the blockchain.

Final Thoughts

As evident from the price charts, NEM has recorded a steady downtrend with occasional highs. Considering the general price trends of the major currencies, the downtrend can be interpreted as a temporary volatile phase. Going by the price movements, the coin dropped -$0.0183 or -7.07 on June 5. The coin, which ranks 15th by market capitalization, is available for trading at $0.250760 USD at the time of writing. Besides, the coin is making a great momentum with new development updates, and the enthusiasm is translated into a positive market response. Speaking in terms of numbers, the coin has moved up by 3.29% from its earlier position. With a market capitalization of $2,256,840,000 USD, NEM (XEM) anticipates making a fresh comeback in the market, while preparing for a massive bull run.

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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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