Coin of the day is NEM.
NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multi-signature accounts, encrypted messaging, and an Eigentrust++ reputation system.
In 2016, NEM jumped in price and become one of the largest cryptocurrency by market capitalization. While the industry was struggling with the DAO hack and recession of the Ethereum, several Japanese banks signed an agreement with NEM to create a payment infrastructure for the blockchain.
The 2018 year which started with the depression all around the cryptomarkets pushed the coin to the lows, almost wiping the 2017-year gains. XEMBTC found a bottom around the 0.00003 level and now is drawing a rebound pattern.
Media attention on Reddit and Twitter has risen to a new high during last week; such shifts could have occurred due to NEM listing by Binance (in March) and overall positive news background around the coin. As reported via CoinLive earlier last week, Tutellus, a blockchain-based EdTech company aimed to incentivize both learning and teaching, switched from Ethereum to NEM as its main blockchain.
XEMBTC brought attention to itself during last days by the strong growth and breaking above the 0.00004 resistance. Last time when the coin went into an uptrend, it ended at the 100-days EMA (14.03.2018), today the price reaching 100-days EMA again. A breakthrough above the EMA will lead the price upwards to the previous high at 0.000057. The break of the 0.000057 high will change overall chart bias to an uptrend. From the below, 0.0004 level should hold as a support to remain bullish sentiment.
NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multi-signature accounts, encrypted messaging, and an Eigentrust++ reputation system.
In 2016, NEM jumped in price and become one of the largest cryptocurrency by market capitalization. While the industry was struggling with the DAO hack and recession of the Ethereum, several Japanese banks signed an agreement with NEM to create a payment infrastructure for the blockchain.
The 2018 year which started with the depression all around the cryptomarkets pushed the coin to the lows, almost wiping the 2017-year gains. XEMBTC found a bottom around the 0.00003 level and now is drawing a rebound pattern.
Media attention on Reddit and Twitter has risen to a new high during last week; such shifts could have occurred due to NEM listing by Binance (in March) and overall positive news background around the coin. As reported via CoinLive earlier last week, Tutellus, a blockchain-based EdTech company aimed to incentivize both learning and teaching, switched from Ethereum to NEM as its main blockchain.
XEMBTC brought attention to itself during last days by the strong growth and breaking above the 0.00004 resistance. Last time when the coin went into an uptrend, it ended at the 100-days EMA (14.03.2018), today the price reaching 100-days EMA again. A breakthrough above the EMA will lead the price upwards to the previous high at 0.000057. The break of the 0.000057 high will change overall chart bias to an uptrend. From the below, 0.0004 level should hold as a support to remain bullish sentiment.
