Can NEM (XEM) be the Next Ripple?
Jan 05, 2018 Posted / 4742 Views
Cryptocurrencies had an exciting last year. Nonetheless, there were some fluctuations but the overall ride was joyous for investors. If we analyze and evaluate the year 2017, the crypto enthusiasts will feel content that most of our there favourite currencies rallied great. One of currencies which specifically stood out is NEM (XEM) and it is predicted that it will rally higher.
There were some definite kicks which won our hearts in 2017. It is a comparatively lesser-known cryptocurrency, NEM (XEM), which has hiked 475% in the one month since our coverage, crossing the $1.00 mark in 2017 is now directing straight to its target of $2.00. Through the past one year alone, NEM (XEM) price skyrocketed by a whopping 31,000%
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This digital currency has closely chased Ripple (XRP) in its price performance. If you take a look at the trajectory on its price chart and compare it with that of Ripple’s, it seems like a virtual reflection of the latter.
While Ripple is at present the second most highly valued cryptocurrency in the world after Bitcoin and given much of spotlight, NEM is still comparatively unheard-of outside close quarters of the crypto-world.
But when it comes to utility, it may be astonishing to investors that NEM offers way more in the manner that its real-world applicability is much better than Ripple.
Evaluating its price chart, a sudden surge seems obvious in December when investors began reaching out money into altcoins. But NEM’s is more of a fundamental cryptocurrency which is here to stay, and can assessed more than just technical market rotation.
The team behind NEM has been working on building a global exposure. NEM is setting up its bases internationally, particularly in smaller countries where cryptocurrencies still remain an investment idea alien to most investors.
The team is going places, meeting small groups of developers and marketing NEM as the best blockchain-based solution for small businesses and enterprises.Everywhere in the world from Europe to Malaysia to New Zealand, NEM has been silently securing a place in the list of major currencies following in the past one-month.
Another reason which could be evaluated is that a major investor market for cryptocurrencies started their venture for NEM in December. NEM began trading on South Korea’s biggest crypto exchange, OKEx, few days before New Year.
Nonetheless volumes from South Korea seem slow when compared to that of the U.S. or Japan, this new market has certainly brought in holders of new crypto-buyers.
In the crypto-world there are heaps of options and a good investment is a just the exact needed thing. But we need to remember here that the these are highly volatile and we must be careful while you’re laying our hands on it.
Analysts point out that cryptocurrencies can be considerably vulnerable and every contributor need to exercise some caution. The investors need to bottle the precipitous drops that follow steep surges, it’s better to steer clear of them.
But if you have nerves of steel, cryptocurrencies have the potential to deliver overnight riches. And looking at NEM’s price history, you can tell that this is not an overstatement.
The experts are forecasting another major rally in NEM prices following Catapult’s launch, which means you should be better looking for investments in NEM.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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