NEM (XEM) is currently trading at $1.42. That’s a 6% boost from its price 24 hours ago. At its current price, the entire cryptocurrency is worth $12.73 billion – making it the 7th most valuable coin on the worldwide market. Just ahead of the NEM coin is Litecoin (LTC), which is worth $12.98 billion at the time of writing. A tiny price movement from either of them could tip the odds:
While the NEM coin price boost today may knock Litecoin (LTC) into 7th place, LTC still has a pretty big advantage over the NEM coin: it’s one of the four featured currencies on Coinbase. Both coins have enjoyed stunning growth stories in recent months, but Litecoin has an edge when it comes to prominence in the crypto space.
But XEM is much closer to ETH in its technology, whereas LTC is more of a Bitcoin (BTC) alternative. The protocol that powers XEM is pretty impressive, and is certainly a contender against Ethereum (ETH) and Cardano (ADA).
Similar to Ethereum, this blockchain can support other applications being built on top of it. Unlike Ethereum, however, they call it a “Smart Asset System.” The big difference between the two is that the blockchain that supports the NEM coin is a mixture of centralization and decentralization.
That means that some cryptocurrency hardliners may shy away from this coin. It also means that XEM is a lot easier for companies to integrate into their own systems in comparison to Ethereum (ETH).
Is the NEM Coin Price Path Ever Passing $1.50 Again?
This enterprise-focused blockchain platform has had a pretty weak few days when it comes to the NEM coin price growth slowdown. We saw XEM pass the $1.50 mark the last time on January 13th – just two days ago. Before that, it was over $1.50 for nearly one full week.
Today’s 6% boost is probably because NEM (XEM) was listed on Huobi Pro – a cryptocurrency exchange:
https://t.co/GINZgpF7IH, a world famous digital asset exchange, will launch #NEM ($XEM) on January 15, 2018 (GMT+8)! Join the quick quiz for a chance to win XEM bonus! https://t.co/zn6MMNEtFR pic.twitter.com/T9q06HXHdN
— NEM (@NEMofficial) January 15, 2018
But even that announcement couldn’t push it over its resistance level of $1.50.
What will it take to push the NEM coin price over the edge?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.