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Cryptocurrency (Coins)

NEM (XEM): Smart Digital Asset Blockchain System Cryptocurrency?



About The NEM (XEM) Project

Feted as a “pure” blockchain altcoin – better perhaps than Bitcoin at doing what Bitcoin does best – the NEM digital currency does have admirable faith and focus towards the cryptosphere as a whole. Often billed as a “second-generation” blockchain app, the developers have justifiably claimed it to be an improvement on Bitcoin on a host of pain points.

Improving upon previous altcoins in a number of ways, the developers wrote their own unique platform code and point to evidence that they have ironed out previous cryptocurrency hassles for users in a number of ways. To be fair to Bitcoin and other, earlier altcoins, NEM hasn’t faced the scaling and other turbulent issues that confronted those digital currencies over recent years.

That said, a technical analysis of the build does reveal a capacity for avoiding many user issue Bitcoin and others have had to fork to address. On its current scale too, user experience is legitimately better than with many other currencies, Bitcoin included.

Very much like under-sung Ether, the NEM token has been around for some two years already. Yet despite demonstrating good utility and making good on its promise in a host of ways, the coin has not been of much interest to investors.

Often referred to as a “sleeping giant’ of the cryptosphere, the developers rationale in rolling out the token was to package and push the current capabilities of blockchain currency. The company claims an efficiency and practical usefulness many times greater than competitors, even Bitcoin, and the mining process is currently a quiet coalface where savvy miners are collecting dividends with nothing near the cost and effort a coin like Bitcoin requires.

As the usefulness and practical application of NEM grows, with its novel features and deft strokes at thorny issues of cryptocurrency, the project is doing what it aimed to do – make blockchain currencies all that they can be going forward.

What Issues Does NEM Address?

As an ardent pillar beneath the cryptocurrency platform, NEM is providing valuable study and support to the cryptosphere. In its insistence that cryptocurrency hits new heights, the token has tackled a myriad of issues that have faced users since 2009, and successfully built solutions to many of them.

Always a UX-sampling outfit, NEM (XEM) is a sleek coded platform, but its intrinsic value lies in its UX focus and ability to ask the hard questions of the cryptosphere. Can users enjoy transaction speeds comparable to existing banking protocols? Can the many and sometimes high costs of coin spending and mining be lowered or eliminated? And is any particular approach to the cryptosphere actually of any real value to users? Rather than trade on what has gone before, in its user-first focus, NEM is almost a self-appointed curator of cryptocurrency, insisting that it can and does address users’ issues and improve the human experience. Also, the company seeks to anticipate user desires and surrounding problems. The network is almost paranoid about security, and a two-tier enabling protocol has also cut out any need for wholesale downloads of the blockchain.

Technology For The Future

The NEM platform runs on Proof of Importance (PoI) algorithms. In a nutshell, the main import of employing this algorithm on the platform is that it easily identifies users whose UP rolls on to calculate the next block. Put less technically, PoI is a seldom-encountered algorithm in the cryptosphere, although feted for its ability to distribute fairly and anticipate many more factors for users, while also rewarding those who put more into the advancement of the coin.

When NEM launched in March 2015, it came built with an ability not only to enable a P2P network, but it also allowed third parties to build apps, including cryptocurrencies ICO tokens. Offering both private and public blockchains, NEM has demonstrated Itself as a decentralized ledger system with the ability to bring almost anything to life.

User case studies of the platform include personal and ownership record storage, the generation of financial instruments, logistical and supply chain tracking applications. The adoption of PoI has meant that NEM uses up to 100 times less power in its mining protocol than Bitcoin and others.

Moreover, PoI has made NEM dynamic, as the developers are being applauded for producing “lighter” nodes and eliminating the need to download a whole string of access blocks. While lacking Bitcoin’s celebrity status, the altcoin is making good in the background on a host of previous bugs in the cryptosystem.

Unique NEM Features Attract Investors

The most pronounced difference for users between NEM and, say, Bitcoin, is that the platform averages one minute of block time, around ten times less than Bitcoin. Higher speeds and greater scope in comparison to many other leading altcoins is what NEM offers. As with mining other cryptocurrencies, NEM produces new digital assets.

The NEM “mosaics” are such assets, and they introduce additional properties and options for users. Any investor staring wide-eyed at Bitcoin, wondering what to do next, might find a home for investment dollars in NEM. The token is destined to grow in the current ecosystem purely on the back of its legitimately better usability and numerous attempts to iron out the wrinkles in UX for cryptocurrency enthusiasts the world over. Whether it will ever race up the charts like the 2017 Bitcoin remains to be seen, but it has core value, better UX and a less tainted portfolio.

NEM is a next-level digital currency, with observers noting that much of the blockchain technology at play in NEM is not just a UX improvement, but also a coding fork that improves upon the world's original experience of virtual currencies. With many serious VC outfits left skittish from Bitcoin’s volatility, they might very soon find their way to a more stable, functional currency like NEM.

Looking at hard facts, NEM’s market cap in November 2017 was $1,912,860,000. This jumped to $8,472,610,000 by December 20. 2017. Eliminating other Proof protocols and presenting as both currency and highly malleable platform from the outset, NEM, very much like Ether and its widely used Ethereum platform, may well emerge to be one of the leading cryptocurrencies of the future.

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Ethereum (ETH)

Ethereum Price Analysis: ETH Approaching Significant Support Area



Ethereum Price Analysis ETH Chart

There was another rejection noted near $265.00 in Ethereum vs the US Dollar. ETH/USD is currently declining and approaching towards a couple of important supports near $254.00 and $250.00.

Key Takeaways: ETH/USD

  • Ethereum price formed a short term top near the $264.4 level and declined against the US Dollar.
  • ETH/USD is currently approaching the $254.00 support and a bullish trend line on the 2-hours chart (data feed from Bitstamp).
  • Bitcoin price remains in an uptrend and it could accelerate gains above the $8,300 level.

Ethereum Price Analysis

Recently, bitcoin price gained momentum and broke the $8,100 and $8,200 resistance levels. However, Ethereum price failed to gain traction and formed a short term top near the $264.4 level.

Looking at the 2-hours chart, Ethereum price started a downside correction from the $264.41 high and declined below the $260.00 level. There was a break below the 23.6% Fib retracement level of the last rally from the $236.89 to $264.41.

Ethereum Price Analysis ETH Chart

Besides, there was a break below the $258.00 level, but the price found support near $255.00. Moreover, the price is approaching the $254.00 support and a bullish trend line on the 2-hours chart.

Below the trend line, the main support is near the $250.20 level and the 50 simple moving average (2-hours, purple). The 50% Fib retracement level of the last rally from the $236.89 to $264.41 is also near the $250.65 level to act as a support.

If there is a downside break below the $250.00 support, the price could extend losses and decline towards the $243.50 zone. The 76.4% Fib retracement level of the last rally from the $236.89 to $264.41 is also near $243.40.

Conversely, if the trend line support holds, the price is likely to start a fresh increase in the coming sessions. An initial resistance is near $260.00 and a connecting bearish trend line. A break above the $260.00 barrier might start a strong rally in Ethereum price above the $265.00 level.

Overall, ETH price is trading with a positive bias as long as it is above $250.00, and it could rise again above $260.00 and $265.00.

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Bitcoin (BTC)

Bitcoin Price Analysis: BTC Setting Up For Another Bull Run



Bitcoin Price Analysis BTC Chart

After a major decline, bitcoin price started a solid upward move above $7,750. BTC to USD gained momentum above $8,000 and even spiked above the $8,250 resistance area.

Key Takeaways: BTC/USD

  • Bitcoin price formed a strong support above $7,550 and recently climbed higher against the US Dollar.
  • BTC/USD broke the main $7900 resistance and a couple of bearish trend lines on the 2-hours chart (data feed from Bitstamp).
  • Ethereum, ripple, and bitcoin cash also gained momentum and moved into a positive zone.

Bitcoin Price Analysis

After testing the $7,500 and $7,520 levels on multiple occasions, bitcoin price finally started a fresh increase. BTC started an upside reversal after it successful broke the $7,600 and $7,850 barriers.

Looking at the 2-hours chart, bitcoin even broke the main resistance near the $7,900 level to move into an uptrend. Finally, there was a break above the $8,000 level plus a close above the 50 simple moving average (2-hours, purple).

Bitcoin Price Analysis BTC Chart

During the rise, the price even broke the $8,150 resistance and a couple of bearish trend lines on the same chart. A new swing high was formed at $8,266 and the price is currently correcting lower.

It broke the $8,150 level and the 23.6% Fib retracement level of the recent wave from $7,903 to $8,266. However, the price is currently finding a strong buying interest near the $8,060 level.

The 50% Fib retracement level of the recent wave from $7,903 to $8,266 is also acting as a decent support. The main support is near the $8,000 level and a connecting bullish trend line on the same chart.

Therefore, bitcoin price is gaining pace and it remains in an uptrend as long as it is above $7,980 and the 50 simple moving average (2-hours, purple).

On the upside, an initial resistance is near the $8,100 level and a connecting bearish trend line. A successful close above $8,100 might start a strong rise in the coming sessions.

The next major hurdle for the bulls is near the $8,250 level, above which the price might start a rally towards the $8,500 level.

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Price Analysis

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) Price Analysis June 10th



Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) Price Analysis June 10th

BItcoin BTC/USD Forecast

Last Friday the price of Bitcoin came up for interaction with the first significant horizontal resistance at $8140. As the interaction ended as a rejection the price was propelled in a downward trajectory and came down to the levels of the prior low at $7576 which was a decrease of around 6.7%. From today's open which was around the mentioned prior low level, the price has increased by 5.43% with strong bullish momentum as the majority of the increase occurred in only one hour but we are now seeing the price struggling to keep up the upward movement slightly lower then on the prior high.


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On the hourly chart, you can see that the price encountered resistance, indicated by the wick from the upper side of the last hourly candle and is now likely to keep interacting with the current level as it's retesting it for resistance further. If the price manages to keep up the upward movement we could see a breakout to the upside from the first significant resistance point and to the next on at around $8500.

This would be unlikely if the found resistance proves to be stronger then the currently seen bullish momentum as a rejection at the current levels would likely lead to a lower low below the one made on 5th at $7506. The price spiked to those levels on today's open but a proper interaction with a lower spike would likely occur if the increase was seen would be stopped out at the mentioned first significant resistance as it would mean that from last Thursday we have been seeing the development of the five-wave move to the downside out of the starting downtrend.

Litecoin LTC/USD Forecast

Last Friday the price of Litecoin increased by around 9.6% coming from $109.96 to $120.47 at its highest which has pushed the price above the first significant resistance level at the descending channels resistance. The price came down for a retest of support at the broken level over the weekend and as it found support it continued moving to the upside above the prior high level, coming to $126.8 at its highest point today.


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The price came above the 0 Fibonacci level which was the ending point of the prior high and above the next highly significant horizontal level at $122.32 above which it is considered to be the sellers' territory. I was expecting the price to start moving to the downside after an interaction with the first significant resistance at the descending channels resistance but as the price continued increasing further past the other significant resistance point we have likely seen the development of another five-wave move to the upside. As the move looks finished or near completion and especially considering that the price has entered the seller's territory I will be shortly expecting the start of the impulsive move to the downside.

Even though we have seen a five-wave increase I don't believe that its the starting upside wave, but is more likely the second correctional structure after the first one currently labeled as a WXYXZ correction ended. The price did make a higher high but this can also be seen on a corrective move usually ending as a running flat. If we are soon the see the start of an impulsive move to the downside the first significant support zone for the price of Litecoin would be at around $83 area.

Ethereum ETH/USD Forecast

The price of Ethereum has increased from today’s open at $228.8 by 6.59%, coming to $243.4 at its highest point today but has encounterd strong resistance there and is currently being traded slightly below those levels.


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On the hourly chart, you can see that the price came down over the weekend below the prior low at around the vicinitly of the 4th wave’s ending point from the previous upside move where it found support as the price immediately started moving impulsively to the upside again.

The rise has been stopped out at the previous horizontal support which now serves as resistance but since a breakout occurred to form the descending triangle which was formed from 30th of May we are likely to see the increase continue for a bit longer before the price continues moving to the downside again.

If the descending triangle was the first structure out of the starting downward move, the increase seen from today could be viewed as a correctional upside move in which case it cannot exceed the 258 level which is around half range between the last Thursdays high and today’s open.

Bitcoin Cash BCH/USD Forecast

Over the weekend the price of Bitcoin Cash has decreased by 8.2% as it came down from $409.2 to $375.6 at its lowest point. From today’s open around the mentioned low level we have seen an increase of 5.36% to $395.7 but the price has encountered resistance as the rise has been stopped out.


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On the hourly chart, you can see that the price decreased slightly above the last week’s low at $366.5 made on Wednesday which is why a lower low before the completion of the downward move would be expected if we are seeing the development of the five-wave move to the downside out of the starting downtrend.

If we are seeing the development of the 4th wave it cannot go above the $413 which the price interacted with over the weekend and found resistance there which makes this possibility higher. As the 4th wave is corrective in nature it could mean that today’s increase is still its development which we are to see from the currently encountered resistance interaction.


Over the weekend the prices have continued increasing to their first significant resistance point and have gotten rejected with the price going to the levels from which the increase was made. This movement could have been the end of the first wave from the starting downtrend but a more likely outcome would be that another lower low is coming before we see some major upside correctional movements.

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