NEM (XEM) has become the crypto leader of the day – with a 48% increase in the last 24 hours, bringing them to 18th place on CoinMarketCap.
Dave Hodgson, Director and Co-Founder of NEM Ventures, the venture capital and investments arm of the NEM blockchain ecosystem, said:
XEM has long been regarded as a sleeping giant in the market, therefore this significant surge does not come as a surprise. NEM currently holds 18th place in the cryptocurrency rating with a value of more than $850 million — an increase of almost 50% overnight.NEM’s upcoming tech roadmap has gained public attention this year with major technology releases on the horizon and an increased focus on security tokens.
Its foundation restructure and re-focus is currently taking effect, and the launch of NEM’s venture capital arm, NEM Ventures, is further supporting the NEM ecosystem. I believe interest and trust has peaked as a result of these significant changes and our longevity as a chain has been proven, supported by strong market fundamentals.”
NEM is a peer-to-peer cryptocurrency and blockchain platform, the currency symbol is XEM. NEM is the world’s first “Smart Asset” blockchain, the “blockchain for enterprise” with a low transaction fee of 0.01% and very scalable.
NEM was started by a BitcoinTalk user, UtopianFuture, who was inspired by the cryptocurrency NXT. Work started on 19 January 2014 to create a community-oriented cryptocurrency.
Unlike most other cryptocurrencies which are forked off existing codes and later altered, the NEM code was written from the ground up in Java – On 31 March 2015, NEM was launched and the total amount of 8,999,999,999 was created on the Genesis block. Transactions on the blockchain are confirmed every 1 minute.
Learn more about NEM here