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What is NEM (XEM)?
NEM, also known as the New Economy Movement, is an altcoin that sets to address many of the problems commonly found in other cryptocurrencies. While the price of NEM is known to remain dormant for months at a time, NEM price history shows that it has reached significant highs in comparison to its closing rate on its first day at 0.000242 cents.
It aims to be easy to use, impact scalability for the better, help with energy consumption, and so much more. It’s also a solution for clearing and settlement, payments, and can even settle change of ownership of any asset in the blockchain. A private chain of NEM, known as Mijin, has also already been embraced by large corporations and companies such as Hitachi.
While the NEM price today is nothing for investors to get excited about, the future of the NEM price is expected to be unlike we’ve ever seen before. There is also no reason why the NEM to USD price can’t be what we saw with Bitcoin.
Price History and Value of NEM (XEM)
The NEM price exchange shows that on April 1, 2015, NEM started its life with an XEM to USD value of just 0.000242 cents. It lay dormant around the 0.0002 to 0.0006 cent mark until it finally reached a NEM price in USD of one cent on March 5, 2017. While it might not seem like a lot (and it’s not), looking at the NEM price chart of all time, it’s a step in the right direction.
By May 8 it had finally made it to 11 cents, before hitting the high 20 cent mark between August 2, 2017, and December 3, 2017. It also managed to reach as high as 30 cents during this period of growth as well.
If you were watching NEM price charts during December, and you had invested in NEM, you were going to get a reasonably decent Christmas present. On December 24, the NEM to USD value was $1.04, a 429,652 percent increase on its initial opening rate. It then remained around the NEM to USD rate of one dollar from December 31 through to January 21, 2018.
Just when investors were starting to see returns, the NEM price live begun to alter dramatically. It dropped day after day, reaching the 90 cent mark for a week before NEM price graphs showed it was heading on a slippery slope downwards to 30 cents. By April 2, it had closed at just 0.22 cents.
NEM (XEM) to USD Price
The NEM to USD price is not something that will get people talking at this stage. Nor are investors lining up in their droves for a piece of the pie. However, it’s important to note that NEM is not the only cryptocurrency experiencing a challenging first quarter.
Many cryptocurrencies are experiencing losses, but of course, it must also be taken into account that a significant theft has dramatically impacted NEM’s following. Users of NEM.io lost over $530 million XEM after it was stolen from CoinCheck, a Japanese exchange.
The Future Price of NEM (XEM)
When a new cryptocurrency hits the market, investors are looking for one thing: a point of difference. They want to know what sets it apart from other coins, and what will the future price of NEM be?
NEM is going to be helpful for a range of different people and businesses, and even in its infancy stages at just three years old, it already is. It can be used by gaming developers, industries, start-up companies, and even real estate companies. Once people see the potential of its blockchain, there is sure to be a rush to invest and utilize what’s on offer.
NEM has seen its fair share of battles this year, but given its future uses, and broad industry advantages that it offers, it’s bound to be a key player in the years to come. In fact, there is no reason why you won’t see NEM battling alongside Ethereum and Bitcoin.