The New Economy Movement (NEM) is a ‘Smart Asset Blockchain’ technology that seeks to develop a low-cost assets and data management system. NEM is a technologically-advanced blockchain that does not focus much on creating another altcoin. The platform aims to provide a means of inter-operation between private and public blockchains. Moreover, businesses can use NEM to transfer assets, including documents, tokens, and supply chains.
NEM.io, a non-profit organization based in Singapore, is in charge of the NEM project. In March 2015, NEM.io created NEM as a fork of NXT. NXT is another cryptocurrency and a payment network. However, NEM.io later went on to make its codebase. As a result, NEM became a hard fork, running a blockchain different from NXT. The native cryptocurrency for the NEM platform is XEM. XEM is a significant part of the futuristic NEM project.
As part of its unique features, NEM uses neither the proof-of-work nor proof-of-stake mechanism. There are various shortcomings to those consensus mechanisms. For example, in proof-of-work, miners with higher computing machines claim an undue advantage over miners with less-powerful computing power. Also, PoW is an energy-efficient process. Thus, it requires a stable power supply.
Proof-of-stake favors coin hoarders. Members who hold a large chunk of coins earn more from staking than retail holders. Moreover, proof-of-stake encourages storing or saving cryptocurrencies and not spending as it should be.
NEM uses the Proof-of-Importance and Harvesting mechanism. This strategy emphasizes the importance of investing in the NEM system. Participants need to have a minimum of 10,000 XEM coins vested in the network’s wallet. They will have to hold their tokens for a significant period at a 10% daily interest rate. Users can then generate new blocks and earn transaction fees. Likewise, the proof-of-importance algorithm rewards users for making transactions in the network. The system evaluates transaction amounts to boost the proof-of-importance score of users. After that, the best nodes in the network earn the most.
Harvesting is another crucial feature of NEM’s blockchain mechanism. The harvesting process is to replace mining. Mining is the standard process other blockchain platforms use to add new blocks to the network and validate transactions. However, like proof-of-work, mining is power-intensive and could be slow. On the other hand, harvesting only requires participants to lend their proof-of-importance score to a supernode. Supernodes instead of miners run the NEM ecosystem. Thus, users only have to connect their wallets, not particular hardware or computer.
Meanwhile, NEM tries to avoid participants’ negligence and ensure that nodes on the system are functional. Thus, the network integrates the Eigentrust++ algorithm to balance the network load and also remove non-contributing nodes. As a result, the NEM blockchain is always efficient and uncongested.
NEM Price Chart
As the chart shows, the NEM coin price was once more than $2 per XEM. However, just like other cryptocurrencies, there was a massive dump in NEM price USD. At the close of 2018, the XEM price was less than $0.1. Binance listed NEM in late 2020 at about $0.1441 coin price. Since then, it has continued to increase in price. NEM current price as of this writing is 0.7350 USD.
Market Prediction for NEM (XEM) price 2021
The New Economy Movement (NEM) coin has fantastic properties worth discussing. However, NEM price USD has not gone back to a dollar since the massive dump in 2018. Following NEM news, the circulating supply of the coin is 8,999,999,999 XEM. Likewise, XEM total supply and maximum supply are all the same – 8,999,999,999. Thus, all XEM tokens are pre-mined and are in circulation. So, its supply might not be the reason for such a low price. XEM once had a market cap of over $14 billion. However, XEM’s current market capitalization is $6,701,987,678, with a daily trading volume of over $814,250,000.
Meanwhile, investors might be quite optimistic about the XEM price. The coin is number 14 on CoinMarketCap ranking, and it’s currently on over 81,000 watchlists. Does this mean traders believe in the token of the Smart Asset blockchain?
The XEM price chart shows an uptrend market for the coin on a daily timeframe. As said, Binance listed NEM not long ago, so this uptrend could quickly reverse. Meanwhile, the NEM coin price has a support level at $0.2 and $0.43.
NEM Predictions 2021
Long Forecast NEM Price Prediction for 2021
Longforecast.com algorithm predicts NEM coin price to close at 2.47 USD by December 2021. This prediction will amount to over a 200% increase in NEM current price. Meanwhile, NEM price USD will continue to increase every month in 2021. However, according to Long Forecast’s predictions, the price increase will not last in the long run. Long Forecast predicts that XMR price will drop below $1 by 2025 as it is now.
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Tradingbeasts.com NEM Predictions for 2021
Tradingbeasts.com has published bullish NEM news for 2021. Through the coming months in 2021, Trading Beasts predicts that NEM value will increase bit by bit. The site’s NEM predictions are realistic because volatility is inevitable in the crypto market. According to Trading Beasts expert prediction, XEM price will have a maximum of about $1 this year. However, their average NEM price prediction is different. NEM will have an average price of $0.92 in December, a minimum of $0.78, and a maximum of $1.15.
Wallet Investor NEM Price Predictions for 2021
Wallet Investor is an expert prediction website that forecasts cryptocurrencies’ prices using technical analysis and historical index. To them, XEM might be a bad investment in the next year. Their one-year prediction for the XEM coin is $0.677. However, they predict a 36% increase in NEM value within five years. Thus, by 2026, a $1,000 investment in XEM from now would yield $360 profit.
NEM Price Prediction of a Trading View Analyst
In December 2020, an expert Trading View user, Mehdi_Rasouli94, published his NEM price chart analysis. He referred to NEM as “My favorite altcoin"” and pointed to a level around $2.5. “NEM will finally touch this line before 2022”, he wrote in his analysis. His support levels for the NEM chart lie at 0.02 USD and 0.23 USD. These two points are pivot support levels on the XEM price chart.
Digital Coin NEM Predictions for 2021
Digitalcoinprice.com has predicted a relatively stagnant price movement for XEM in 2021. According to their prediction, XEM will reach $1.23 by April but will close below $1 by December. Judging by NEM current price, this prediction is realistic and achievable. Meanwhile, by 2025, Digital coin predicts that NEM price USD will be around $2.44.
NEM Price Prediction 2021
In 2021, NEM current price might increase significantly, at least over a dollar per XEM. However, there could be another sharp drop in NEM coin price. What factors might be responsible for any of these actions? The developers and management of the project continue to do more work and improve on NEM features. The update on Catapult, for example, will introduce a high-performance API gateway server with advanced scalability. Thus, the network can process more transactions per second and even facilitate messaging. Likewise, the update will enhance the easy exchange of assets within the blockchain. However, the full Catapult update is yet to launch.
Meanwhile, NEM Smart Asset technology has overtime seen actual use. Mijin commercial blockchain uses NEM’s technology to facilitate financial services in Japan and other places. When businesses integrate products and launch projects on the NEM platform, it also improves NEM value. When these projects succeed, they will add to the XEM use-case. NEM.io Foundation continues to do its best for the project. The Foundation ensures they introduce and educate individuals in the blockchain space about NEM’s potential. Consequently, NEM can see an international and worldwide adoption.
However, massive adoption can be challenging to achieve in the first few years of a project. Competition keeps growing in the blockchain ecosystem, and this could cause some setbacks for Nem.io Foundation. Other cryptocurrency projects also aim to provide solutions for smart assets and smart contracts on their networks. Examples are Waves (WAVES), Ardor (ARDR), Stratis (STRAT), and a significant stakeholder of decentralized finance, Ethereum (ETH). Remember, Ethereum is the second most valuable cryptocurrency by market capitalization after Bitcoin.
NEM still has a long way before it can surpass some of its competitors. This setback could be terrifying NEM news. For NEM current price to pump drastically, the team needs to maintain uniqueness.
NEM Price Prediction 2025
Various NEM predictions gave speculations as regards NEM coin price in the future. Meanwhile, 2025 is still a long way to go for the XEM coin, and a lot could happen between now and then. One inevitable player that can influence NEM price USD positively or the other way is Bitcoin price. Bitcoin predictions for 2025 are mostly bullish, and some experts predict a six-figure price for BTC by then. If Bitcoin should pump as hard as predicted, several altcoins, including XEM, will follow suit. Some altcoins will also increase even when the Bitcoin price remains stagnant. However, if BTC price should drop below expectations (which is not feasible), this could cause bad NEM news.
NEM is a futuristic project that is compatible with adoption. When released, the update on Catapult will allow it to process up to 3,000 payments per second. The adoption rate of XEM cannot be over-emphasized if its price will surge in 2025 and beyond.
Beyond NEM features and Bitcoin price movement, expert opinions can also drive in investors. Expert NEM predictions of Digital Coin speculates that XEM price USD will sell above $2 by 2025.
However, as above, Long Forecast still sees NEM value below $1 by 2025.
NEM Price Prediction Verdict
NEM has something unique to offer, and these features apply to real-world events and practical usage. The NEM platform brings Namespaces to the blockchain ecosystem. Namespaces are like domain names of websites on the World Wide Web, and therefore NEM allows users and businesses to create their domain names on the NEM network.
Multi-signature transactions are another feature of the NEM blockchain. Multi-signature transactions enable businesses or companies who use NEM to track the activities on their account. Thus, these businesses can expand quickly and still retain complete control of their assets. NEM’s proof-of-importance and harvesting is an added advantage as this mechanism is neither power-intensive nor expensive. All these excellent qualities of the NEM network are add-ons that could drive XEM prices higher.
Meanwhile, NEM has seen some other real-world applications so far, including a partnership in UAE. Also, the launch of a Blockchain Hub where NEM provides support for start-ups innovating on its blockchain.
On March 15, 2021, NEM will launch a new blockchain known as Symbol. The Symbol is a public blockchain, and NEM NIS1 will be migrating into Symbol after its launch. The Symbol will be a tool to connect businesses with the NEM ecosystem. The new blockchain might be the tool NEM needs to facilitate interoperability between private and public blockchains. Meanwhile, we cannot fully ascertain if Symbol is built for that yet. The token for the new Symbol blockchain is XYM. During its launch, XEM holders who opted for the XYM snapshot received XYM tokens equivalent to the XEM in their wallet.
The New Economy Movement (NEM ecosystem) has a vast use-case. While the NEM.io Foundation has achieved some collaborations, more adoption can still happen on the network. Adoptions, upgrades, and increases in usage are crucial to the value of XEM. Thus, XEM is a coin of the future, and it has high real-world backing. Holding XEM will be a profitable investment in 2021 and the long-term. You can manage XEM tokens using the Atomic Wallet mobile app.
How to Buy NEM
After creating your wallet on the Atomic app, you can buy cryptocurrencies directly. Tap “BUY” in your wallet, and pay; you can pay instantly with a debit card. Payments are fast and stress-free. Temporarily, users cannot buy XEM tokens from Atomic Wallet. However, you can buy XEM from a cryptocurrency exchange and send it to your wallet. NEM is on various crypto exchanges, including top names like Binance, Upbit, OKEx, Hotbit, and many more.
How to Exchange NEM
Atomic Wallet users can always exchange XEM for other cryptocurrencies from their wallets. You can trade Bitcoin, Ethereum, and several others for XEM. Likewise, you can swap XEM for other coins at an excellent market rate. Ensure you download the Atomic Wallet app and create a decentralized wallet.
This NEM price prediction cannot be 100% accurate. However, it can give investors a clue about the investment opportunities cryptocurrencies have to offer. Before you buy a coin, please do further research and analysis.
Stellar Price Prediction & Forecast 2021
Will Stellar (XLM) rise or fall in the 2021 calendar year?
Stellar current price is $0.3990. It has a circulating supply of 22,571,070,030 (45% of its maximum 50 billion XLM supply). What Stellar news could drive its price in 2021? On March 2, 2021, Stellar announced the introduction of Horizon 2.0 on its Twitter page. According to the announcement, the latest development helps users deploy Horizon with fewer resources.
Additionally, the Grayscale Investments hedge fund has purchased a total of 35,855,625 XLM so far in 2021. This announcement is a massive one for Stellar because institutional investors are vital for any cryptocurrency value to improve. Thus, as 2021 goes by, we might see an enormous pump in Stellar price.