Price Analysis

NEM (XEM) Price Analysis: After Catapult, What Will Push NEM Further?

NEM (XEM), a cryptocurrency that is ranked on 20th position on Coinmarketcap recently got its investors excited as it had a notable price surge. The crypto had witnessed major price drops since January 2019, in this scenario, the price spike was a boosting factor for the crypto space.

NEM, which is trading under the ticker-XEM enjoyed such an increase in price due to the recent launch of its blockchain engine’s version 2.0 named Catapult. Soon after the announcement of the launch, NEM price hit $0.10 mark on 16th May. The increase was considerable as before the launch, the price was ranging around $0.048.

Current Statistics:

  • NEM Price is trading at $0.075 at 09:20:30 UTC.
  • The ROI (Return on Investment) remains at more than 9000 % according to Coinmarketcap.
  • The value of NEM with respect to BTC is at 0.0000099 BTC.
  • On 23rd May, at the same UTC, the Market Capitalization is $677,338,404 USD; while the 24-hour volume stands at $34,324,802 USD.

NEM (XEM)

Along with the sharp surge, the chart that is given above also indicates that the price didn’t continue the upward trend. Instead, NEM price saw a sharp fall from $0.10 mark. Currently, the price is at $0.075 showing a decrease of 25%.

Prediction and Conclusion

The chances are higher that NEM would see the surge again. A popular crypto payment app named Zeux has declared support for NEM. Zeux announced to add NEM on its digital payment wallet, enabling a vast exposure to the token.

This signals towards the interest that the investors have in NEM token. Zeux’ support will give rise to the adoption of the token. This scenario is likely to cause a price spike in the short term.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
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