Cryptocurrency Nem (Xem): review and rate for today

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The NEM (XEM) cryptocurrency operates on the platform of the same name, which is an implementation of a peer-to-peer network with many features and original functions that distinguish it from other similar projects. The main competitor is Ethereum, and the NEM project itself is often called Asian ether. In this it competes with NEO, called Chinese Ether. These labels already allow us to imagine what NEM is - it is a 2nd generation blockchain that involves the use of smart contracts and introduces new technological solutions that overcome the problems identified in the practical application of the Ethereum (ETH) network by Vitalik Buterin.

The NEM rate has pleased investors with volatility and growth, so new heights are expected from this cryptocurrency in the future. To decide whether it is worth allocating a place in your investment portfolio for the XEM digital asset, you need to familiarize yourself with the idea of ​​the project and NEM forecasts, which were compiled for the cryptocurrency by the world's leading experts in financial markets and blockchain technologies.

General information about the project

The name NEM is an acronym that stands for New Economic Movement. Translated into Russian, these three words signify the emergence of the New Economic Movement. This name was chosen for a reason, because it reflects the essence of the project, which is to create a blockchain platform and cryptocurrency that could be fully used in every segment of the currently existing real sectors of the world economy.

A user of the famous bitcointalk forum, who is known under the fictitious pseudonym Utopian Future, is responsible for the creation of the project. On his initiative, a thread was created on this most popular Internet forum on January 19, 2014, where topics related to the creation and implementation of a new digital asset were discussed.

Initially, it was not planned to create a network and cryptocurrency from scratch. Utopian Future proposed to conduct a hard fork in the already existing NXT chain. However, the forum members were active and during the discussion, which attracted the attention of a large number of users, they decided to create their own original blockchain chain and cryptocurrency. Having received support, Utopian Future began creating the platform, which soon appeared in an alpha version, and then in a working beta.

After 3 years of development, on May 14, 2020, NEM announced the official launch of the Catapult engine, written in C++. With its advent, the XEM protocol became available for use in public and private networks of business corporations. Commercial structures, through the use of NEM Catapult, have the opportunity to comfortably transfer their business to the digital world, operating on the basis of a transparent blockchain chain.

Officially, the creators call the birthday of the XEM cryptocurrency the last day of March 2020. Then, on the 31st, a stable version of the NEM platform was presented to the world. Until the end of spring 2020, the XEM network attracted a lot of attention from users in Japan and other countries in the Asian region.

The reason for the success of NEM is its technological features, which are discussed in more detail below. It was they who contributed to the adoption of the XEM cryptocurrency and the growth of the exchange rate.

NEM network

NEM started out as a fork of NXT, another open-source payment network platform, but the project soon created its own codebase. The NEM.io Foundation team decided to rebuild the system from scratch. The foundation is based in Singapore. And the project mainly works with Asia.

NEM has changed a lot in the system, so it is not the same as NXT. XEM cryptocurrency, the main coin used on the platform. Even though it is not actively used within the network, its value has increased significantly in a very short period.

The project has private blockchains, as well as modular configuration and an open API. Various programming languages ​​are supported, which helps the project be the basis for business decisions.

The NEM community also exists in Russian, so developers have the opportunity to find explanations for some problems when coding applications. For example, the forum contains useful links to tips, documentation, etc.

The team recommends using the TypeScript language to create applications on the NEM Blockchain. They have compiled a library https://nemlibrary.com/ which makes development easier.

XEM rate

Below is an online chart showing the exchange rate of the NEM cryptocurrency to the dollar and ruble. By default, weighted average quotes against the dollar are displayed, but if you wish, switch the list of available exchanges and see prices on individual trading platforms. The chart is initially linear, but at the top there are tabs for switching to bars (OHLC) and candles (Candles).

If you look at the history of NEM quotes on the chart online, you can see that from the moment the cryptocurrency appeared, the XEM rate was less than $0.05 and immediately entered a phase of active growth. Japanese banks became interested in the opportunities offered by XEM, provoking an increase in demand and, accordingly, the price, which rapidly flew up, doubling in the first months of 2020.

However, in August 2020, NEM found resistance at 29-30 cents. Although the developers were actively implementing technical solutions, improving the platform, the asset could not rise above this price level for a long time.

The situation persisted until the fall of 2020, when an NRI, a large Japanese bank, showed attention to the XEM cryptocurrency. Its management decided to test the NEM blockchain platform, as a result of which it turned out that the network is resistant to high loads and carries out many transactions without loss of speed. At the same time, no vulnerabilities for hacker attacks were identified, which is why NRI decided to enter into a partnership with the NEM team.

As soon as it became known about the signing of an agreement between NRI and NEM, other banking institutions immediately became interested in the XEM cryptocurrency, which provoked a powerful wave of growth and an increase in capitalization. In 2020, XEM’s capitalization was $2.5 billion, and in October 2020 – $9 billion, which allowed the cryptocurrency to break into the TOP 10 most capitalized digital assets according to CoinMerketCap.

Experts note that the success of NEM is an example of a successful combination of technical solutions and a well-thought-out product promotion strategy.

NEM exchange rate forecast for 2020, 2021-2024

NEM rate forecast for October 2022 . The rate at the beginning of the month is $0.032. The maximum rate is $0.032, the minimum is $0.025. The average rate for the month is $0.029. NEM rate forecast at the end of the month $0.027, change for October -15.6%.

NEM rate forecast for November 2022 . The rate at the beginning of the month is $0.027. The maximum rate is $0.027, the minimum is $0.021. The average rate for the month is $0.025. NEM rate forecast at the end of the month $0.023, change for November -14.8%.

NEM rate forecast for December 2022 . The rate at the beginning of the month is $0.023. The maximum rate is $0.029, the minimum is $0.023. The average rate for the month is $0.026. NEM rate forecast at the end of the month $0.027, change for December 17.4%.

NEM rate forecast for January 2023 . The rate at the beginning of the month is $0.027. The maximum rate is $0.027, the minimum is $0.021. The average rate for the month is $0.025. NEM rate forecast at the end of the month $0.023, change for January -14.8%.

NEM rate forecast for February 2023 . The rate at the beginning of the month is $0.023. The maximum rate is $0.023, the minimum is $0.018. The average rate for the month is $0.021. NEM rate forecast at the end of the month $0.019, change for February -17.4%.

NEM rate forecast for March 2023 . The rate at the beginning of the month is $0.019. The maximum rate is $0.019, the minimum is $0.015. The average rate for the month is $0.017. NEM rate forecast at the end of the month $0.016, change for March -15.8%.

NEM rate forecast for April 2023 . The rate at the beginning of the month is $0.016. The maximum rate is $0.020, the minimum is $0.016. The average rate for the month is $0.018. NEM rate forecast at the end of the month $0.019, change for April 18.8%.

NEM rate forecast for May 2023 . The rate at the beginning of the month is $0.019. The maximum rate is $0.024, the minimum is $0.019. The average rate for the month is $0.021. NEM rate forecast at the end of the month $0.022, change for May 15.8%.

NEM rate forecast for June 2023 . The rate at the beginning of the month is $0.022. The maximum rate is $0.022, the minimum is $0.017. The average rate for the month is $0.020. NEM rate forecast at the end of the month $0.018, change for June -18.2%.

NEM rate forecast for July 2023 . The rate at the beginning of the month is $0.018. The maximum rate is $0.018, the minimum is $0.016. The average rate for the month is $0.017. NEM rate forecast at the end of the month $0.017, change for July -5.6%.

NEM rate forecast for August 2023 . The rate at the beginning of the month is $0.017. The maximum rate is $0.021, the minimum is $0.017. The average rate for the month is $0.019. NEM rate forecast at the end of the month $0.020, change for August 17.6%.

NEM rate forecast for September 2023 . The rate at the beginning of the month is $0.020. The maximum rate is $0.025, the minimum is $0.020. The average rate for the month is $0.022. NEM rate forecast at the end of the month $0.023, change for September 15.0%.

NEM exchange rate forecast for October 2023 . The rate at the beginning of the month is $0.023. The maximum rate is $0.028, the minimum is $0.023. The average rate for the month is $0.025. NEM rate forecast at the end of the month $0.026, change for October 13.0%.

NEM rate forecast for November 2023 . The rate at the beginning of the month is $0.026. The maximum rate is $0.032, the minimum is $0.026. The average rate for the month is $0.029. NEM rate forecast at the end of the month $0.030, change for November 15.4%.

NEM rate forecast for December 2023 . The rate at the beginning of the month is $0.030. The maximum rate is $0.037, the minimum is $0.030. The average rate for the month is $0.033. NEM rate forecast at the end of the month $0.035, change for December 16.7%.

NEM rate forecast for January 2024 . The rate at the beginning of the month is $0.035. The maximum rate is $0.035, the minimum is $0.030. The average rate for the month is $0.033. NEM rate forecast at the end of the month $0.032, change for January -8.6%.

NEM rate forecast for February 2024 . The rate at the beginning of the month is $0.032. The maximum rate is $0.040, the minimum is $0.032. The average rate for the month is $0.035. NEM rate forecast at the end of the month $0.037, change for February 15.6%.

NEM rate forecast for March 2024 . The rate at the beginning of the month was $0.037. The maximum rate is $0.040, the minimum is $0.034. The average rate for the month is $0.037. NEM rate forecast at the end of the month $0.037, change for March 0.0%.

NEM rate forecast for April 2024 . The rate at the beginning of the month was $0.037. The maximum rate is $0.046, the minimum is $0.037. The average rate for the month is $0.041. NEM rate forecast at the end of the month $0.043, change for April 16.2%.

NEM rate forecast for May 2024 . The rate at the beginning of the month was $0.043. The maximum rate is $0.048, the minimum is $0.042. The average rate for the month is $0.045. NEM rate forecast at the end of the month $0.045, change for May 4.7%.

NEM rate forecast for June 2024 . The rate at the beginning of the month is $0.045. The maximum rate is $0.056, the minimum is $0.045. The average rate per month is $0.050. NEM rate forecast at the end of the month $0.052, change for June 15.6%.

NEM rate forecast for July 2024 . The rate at the beginning of the month is $0.052. The maximum rate is $0.059, the minimum is $0.051. The average rate for the month is $0.054. NEM rate forecast at the end of the month $0.055, change for July 5.8%.

NEM rate forecast for August 2024 . The rate at the beginning of the month is $0.055. The maximum rate is $0.055, the minimum is $0.047. The average rate for the month is $0.052. NEM rate forecast at the end of the month $0.051, change for August -7.3%.

NEM rate forecast for September 2024 . The rate at the beginning of the month is $0.051. The maximum rate is $0.051, the minimum is $0.044. The average rate for the month is $0.048. NEM rate forecast at the end of the month $0.047, change for September -7.8%.

Technical parameters of the network and competitive aspects of the product

The technical features of the network include:

1. The NEM blockchain network is stable, enabling the automatic creation of new blocks. I am pleased with the high speed of this parameter - 1 per minute. Even in 2020 this is an excellent indicator, and in 2015, when the project first appeared, this was a record high value.
2. Easy implementation. To become a member of the network, you only need to install the appropriate software. Moreover, the software was created not by some third-party developers, but by the company itself. On the official NEM (XEM) website, users will find everything they need - online and PC wallets, miners, etc. All software is created in different variations for each popular operating system - Microsoft, Linux, MacOS, Android, iOS.
3. Reliability and safety. After implementing the Catapult engine, the likelihood of a system failure or a successful hacker attack is reduced to zero. The protocol initiates a circular self-check to avoid errors or double processing of the same transaction.
4. Translation processing. The main problem with ETH and other popular blockchains is poor scalability, because as the load increases, the transaction processing speed drops. However, on the NEM network, the cryptocurrency transfer speed is a matter of seconds. The platform supports processing 4 thousand transactions in 1 second.
5. The maximum number of XEM coins is limited to 9 billion. Compared to competitors who allow an increase in emission, the project developers promised that no new coins will appear on the network.
6. The network is built around an original consensus algorithm called PoI - Proof-of-Importance. To mine a new block and receive a reward, you have to control 3 parameters during the mining process: the total volume of cryptocurrency, the number of completed transactions and the time period for creating an account.

Features of the NEM cryptocurrency

The very first feature of the NEM project in the formation of the blockchain, which uses the innovative POI (Proof of Importance) algorithm, is proof of importance. Decisions are made not on the basis of mathematical calculations, but on the basis of three characteristics of the node:

• amount on wallet balance;
• user activity;
• the time the account remains in the system.

In the NEM blockchain, blocks are generated 10 times faster than in the Bitcoin network: 1 block = 1 minute, and they are created automatically. Thanks to this, money transfers are confirmed instantly. Currently, the NEM network is capable of conducting up to 4 thousand transactions at a time.

The developers' main interest is in the area of ​​financial technology and bank transfers. And such high speed helps NEM move in this direction.

NEM technology can be used in many areas, both at the state level and for private entrepreneurs. Every industry gains the ability to manage its information and data. Educational institutions can use blockchain to store data regarding grades, degrees and transcripts, as well as for competitions between parties.

NEM is built around a powerful “Smart Asset System” designed to allow you to customize your use of the blockchain. This makes it possible to use NEM for custom blockchains created for any application or asset.

Instead of writing your own smart contract code from scratch or using off-blockchain methods to define custom assets for your company, NEM gives you direct API access to a specialized set of proven and secure functions on the blockchain.

On the NEM platform you can create your own startups and conduct ICOs to raise initial capital.

All NEM software is located on the official website and is developed for the main operating systems of PCs and mobile devices. Here you can download not only wallets, but also mining programs, reference materials and manuals. The interface of all applications is very friendly and understandable.

Mining NEM

Since we are talking about mining the NEM cryptocurrency, we should dwell in more detail on the process of mining new coins. As already mentioned, the XEM network uses the Proof-of-Importance protocol, and not the Proof-of-Work protocol like Bitcoin or Ethereum. First of all, this information means that it will not be possible to mine XEM using cards or processors.

The name of the Proof-of-Importance algorithm used (abbr. PoI) is translated into Russian as proof of importance. Two other popular algorithms are Proof-of-Work (proof of work done) and Proof-of-Stake (proof of ownership). PoI is most similar to PoS (Proof-of-Stake), since both of these consensuses involve mining new blocks without the use of computer hardware.

However, PoS is, in fact, a rather primitive algorithm, since the one who has more money in his wallet receives a more generous reward. In the case of NEM mining, everything is more complicated, since the reward depends on several factors at once, and here you can’t just buy a lot of cryptocurrency and sit and watch it become even more.

To increase production levels, it is necessary to control the following variables:

1. Transactions. The network takes into account how much a particular node has spent in cryptocurrencies over a 30-day period.
2. Cryptocurrency volume. The number of coins in your wallet also plays a role.
3. Related nodes. If a node frequently exchanges data with other nodes, then they are connected into one cluster. Presence in the cluster increases the level of remuneration, and an isolated position decreases it.

Advantages of PoI over PoS and PoW:

1. In PoS, it is important to stock up on as many coins as possible, after which their gradual increase will begin. Thus, network participants lack motivation to spend money and conduct transactions. With PoI, mining performance is directly related to node activity. Therefore, it is beneficial for users to spend and transfer coins.
2. Because there is no cost associated with generating new blocks, in the event of a fork, individual participants can generate coins on both networks obtained through the split. Therefore, theoretically, a fork could stretch out forever, but the XEM network is protected from such collapses.

On the NEM network, mining is called harvesting. This term is derived from the English word harvesting, which translated into Russian means “collection”. The name is derived from the specific actions of the miner, who collects transactions and payments. Moreover, in order to profitably engage in harvesting, you need to increase the level of importance of your own node (account), demonstrating activity.

With traditional mining, a certain number of coins circulate in the network, and the rest are mined. NEM is a little different. Here, all 9 billion coins are already online. Therefore, the miner does not mine new blocks, but receives a reward for supporting the system, thereby collecting a harvest in the form of XEM coins for himself.

To start harvesting, you just need to register your wallet and top it up with 10 thousand XEM coins.

Important: the wallet must be installed officially, and after replenishing the balance, it must be installed from the website of the XEM mining software developers. The system does not put forward strict requirements for hardware, but the computer should not slow down, so it still doesn’t hurt to worry about a good processor and card.

Another feature of XEM mining is the ability to assign individual blocks to selected network participants. Therefore, a certain rating is constantly being formed from harvesters, where to advance to the top you need uninterrupted PC operation, a large volume of transactions and solid cryptocurrency reserves. Moreover, it is difficult to say which parameter is more important, since the system evaluates performance comprehensively, analyzing the combination of all three values.

Where to buy XEM

The easiest way to buy NEM cryptocurrency is at one of the cryptocurrency exchanges or exchange offices. For a number of reasons, it is better for users who are looking to invest or speculate in digital assets to choose the first option and buy XEM on a crypto exchange.

Since the coin gained wide popularity and confidently remained in the TOP 10 in 2020 (now at the end of 2020 it is in 16th place), the NEM cryptocurrency was listed on almost all crypto exchanges. Among large popular platforms, the largest XEM trading volumes were recorded on:

• Binance;
• HitBTC;
• Poloniex;
• Bittrex;
• Huobi;
• Bithumb;
• LiveCoin;
• EXMO.

For citizens of the post-Soviet space, it is recommended to pay attention to the last 2 sites, since unlike others, here you can buy XEM for dollars or rubles by topping up your account balance on the crypto exchange using AdvCash, Qiwi, Yandex Money, Perfect Money and other convenient payment systems.

On other crypto exchanges, for example, on the most popular Binance, XEM is traded in relation to cryptocurrencies, and it is impossible to buy coins for fiat - rubles or dollars - there.

Where to store NEM

To store purchased coins, it is best to use the Nanowallet wallet, downloaded from the official NEM website. To get it and start using it, do the following:

1. First, go to the official NEM website. Then select the operating system and proceed to download NEM Nano Wallet.
2. The site has added an offer to download an installer for a PC with data saved on your hard drive and in the Dropbox cloud service.
3. Having received the archive, unpack it and press start.
4. A page will open in the browser window where the wallet registration takes place. By default, the information is presented in English, but the selection menu contains Russian. Therefore, we find, switch, and the interface changes to a language understandable to citizens of the post-Soviet space.
5. By selecting “Registration”, a new browser page will load, where the user will be asked to create a simple, smart or using a private key.
6. Then they fill out the form, confirm the entered information and wait until the Wallet file and the access key to it are created in the system. Important: keep your private key in a safe place!

Projects in the ecosystem

Landstead . One of the most promising projects is Landstead, a land and property registration system that runs entirely on the NEM platform and its infrastructure. This online application allows governments to create and store citizenship data, register real estate, grant property to citizens, and more.

Mijin . These are private blockchains as a service. It is a fork of NEM, but is developed by the same team. Supports smart contracts and can communicate with the public NEM blockchain. Mijin is open source, but licenses are sold for businesses.

NEM Hot/Cold Wallet . The idea is that the wallet has never been connected to the Internet (cold storage), but you can send assets from it (hot). This is done using APIs and layered architecture.

ioNEM . Creates a combination of the Internet of Things and blockchain. While many IoT implementations today rely on a centralized server. Through blockchain, distributed, secure computer systems can be used to allow devices to communicate over a network.

Woocommerce payment plugin . There is a free plugin for WordPress that allows any store to securely accept XEM on their site.

NEM Vote . The NEM Voting Platform is a new NanoWallet module that allows anyone to create and vote on polls stored on-chain. The vote counting is done on an open source client to ensure decentralization. The project uses NEM messages and transactions to send votes. Votes are weighted based on the importance factor. Organizations can create private whitelist voting.

They even have a game called Pacnem . Here you can play on the Nem blockchain, DLT is used for player authentication and payments. Another project, Multi Signature Accounts, is used. The game will also store game credits and achieved scores. It is designed to show that blockchain can be easily used for many things.

Details of the projects can be found at this link on the official website.

NEM also offers cases on how it can be used in:

• financial system (transfers of assets, creation of your own currency, online purchases, securities market, in the escrow service format, creation of your own payment system)
• running a business (accounting automation, KYC, loyalty points, document flow, supply chain)
• security (encrypted messages, authentication, anti-counterfeiting, certification, agreements between companies)
• decentralized solutions (voting, crowdfunding, ICO)

Why you should invest in XEM

Since the NEM rate is growing from year to year, as is the capitalization, investors are asking themselves whether it is worth investing in this project from current levels and whether the price will continue to rise. To answer these questions, let's look at the available facts.

Blockchain industry experts speak positively about NEM, recognizing this platform as reliable and fast, allowing you to legally move funds from different parts of the world in a matter of seconds and with minimal costs. Therefore, it is correct to treat the XEM cryptocurrency as an asset of a serious project with a real prospect. This is not just another shitcoin invented for use in pump-and-dump strategies, but a valuable asset.

Recall that in Japan, financial institutions immediately became interested in NEM. It is naive to assume that financial analysts in one of the most developed countries in the world would begin to study and implement a cryptocurrency that has no prospects. In addition, Japan was among the first to officially approve payments in digital assets, recognizing cryptocurrencies as a real means of payment.

Don’t forget that in Japan, banking and financial institutions need a license and cash reserves to operate with cryptocurrency. The cost of the first is 300 thousand dollars, and the value of the second is 100 thousand USD. This is another important fact, because license purchases say that banks highly appreciate the potential of NEM, since they are making such impressive expenses.

The following factors contribute to the belief in further continued growth of XEM:

1. Blockchain offers original technical solutions. For example, the PoI algorithm seems to be the most successful and fair compared to PoW, PoS and modifications of the latter.
2. Since its inception, NEM has been doing everything to join the real economy sector. This is important because individual governments are doing everything possible to begin regulating cryptocurrencies. Now norms and standards are being created that will make it possible to recognize some crypto-assets as legal. And XEM makes every effort to operate within the law, which eliminates the only significant risk that would prevent the project from growing.
3. The project has already entered into strategic partnerships with large financial institutions, and money, as we know, leads to money. Among the partners are the already mentioned NRI bank, a consulting company from Australia Blockchain Global Limited, a software development company from the Land of the Rising Sun - Tech Bureau. Also on the list of partners are large banks from Malaysia, South Korea and Japan.
4. In 2020, the NEM network is already used to carry out banking transactions, purchase goods in online stores, and instant transfers of funds throughout the planet. So, unlike many other startups, this one already demonstrates a real and in-demand product, which is appreciated by large business entities.

Why did the NEM (XEM) rate fall in 2020?

Why did the NEM (XEM) rate fall in 2020?

The NEM (XEM) cryptocurrency started 2020 with good news. Then its price was more than 1 dollar. But already in the same month there was a tendency towards a gradual and, in some places, sharp decline. For example, the rate even fell to $0.37. Only now the situation has stabilized a little. Cryptocurrency is sold and bought for $0.42-0.47. There are many reasons for falls, let’s look at the main ones.

The price of the nem cryptocurrency was influenced by Bitcoin

Bitcoin was the center of attention throughout the end of 2020 and the beginning of 2018. Its rate fell to a critical level, that is, below $7,000. It was followed by other forks, altcoins, that is, the main competitors. Bitcoin was banned in a number of Asian countries. For example, China, India and South Korea have completely banned the operation of crypto exchanges and exchangers.

The price of the nem cryptocurrency was influenced by Bitcoin

Bitcoin was the first to come under attack. After its rate fell, the prices of other digital coins, including NEM (XEM), also decreased. If the leader of the race could not resist the bans and regulators of the governments of different countries, then what can we say about other altcoins. As soon as something happens to Bitcoin, it immediately affects other cryptocurrencies. The fall in the NEM rate is also associated with a decrease in the value of Bitcoin. By the way, its share of capitalization in the digital coin market is almost 40%.

Investigator, in order to predict the price of Nem, you need to follow the following news:

• Introduction of new bans and regulations by leading countries of the world.
• Refusal of cryptocurrency or, conversely, its introduction into the developments and technologies of leading companies.
• The rise or fall of the Bitcoin rate.

In general, significant news in the world of cryptocurrencies is immediately reflected in the coin rate. Over the past month, He has had many such reports in the media. Let's consider them further.

The rate was affected by the theft of NEM tokens from Coincheck

Trading on the Japanese exchange Coincheck is reflected in global cryptocurrency quotes. Here the trading turnover amounts to millions of dollars per day. The news about the theft of Nem tokens from the site immediately affected the price of the coin. She instantly rolled down. The owners of the exchange themselves admitted to the presence of vulnerabilities. Thanks to them, hackers were able to steal 500 million Nem tokens.

The rate was affected by the theft of NEM tokens from Coincheck

At that time, the total damage amounted to more than $400 million. The most unpleasant thing in the situation is that the funds did not belong to the company, but to registered participants of the exchange. They were stored in hot wallets. As you know, sites have been using cold wallet storage technology for a long time. In the event of hacker attacks, it is a mandatory measure of protection against hacking and theft. But Coincheck neglected cold storage, citing staff shortages. However, the exchange has already returned half the money to their owners.

Transactions with the NEM cryptocurrency on Coincheck were suspended, which caused its rate to decline. The NEM Foundation is currently developing technology for marking its tokens to protect their future owners from theft. This news has a twofold meaning:

• On the one hand, marking will help avoid theft of tokens.
• On the other hand, marking will lead to the loss of decentralization of the cryptocurrency.

Coincheck officially announced compensation for losses

The company will know in which hands its tokens are concentrated. This means that the owners cannot be sure of the complete confidentiality and decentralization of the coin. News about the marking also had a partially negative impact on the NEM cryptocurrency rate.

Price increases on exchanges affect the NEM rate

In January 2020, investors and traders identified a single idea about the trend in the cryptocurrency exchange rate, including NEM. There is an opinion that the price is deliberately increased for the purpose of:

• Speculative transactions.
• Further sales or purchases of coins are already at a favorable rate.
• Receiving excess profits.

Indeed, the value of digital currencies is still called far-fetched and unfair. For example, Bitcoin is clearly not worth $10,000. Its course is formed only due to investments made in it by third-party users. And their investments are based only on expectations, most of which are the desire to earn and “drain” coins at the right price.

Price increases on exchanges affect the NEM rate

In addition, cryptocurrency is not considered at all as a means of payment. It is of interest to many only as another asset with high exchange rate volatility. The same thing happens to Him. Its value then rises sharply, then rises again. At this moment, someone gets rich or, conversely, a loss is recorded.

Representatives of the NEM Foundation stated that the nem cryptocurrency rate is not inflated. And the company itself is not interested in the issue of the price of the coin. Its main prospects are implementation in payment systems and the banking sector. The founders do not care about manipulation, they are only concerned about the future of cryptocurrency and its implementation in electronic payments. Of course, the news is optimistic, but investor concerns regarding speculation also affected the price of the coin.

Development plan

According to the project development plan (road map), in 2020:

1. A co-working center and laboratory for Blockchain Innovation research have been opened. Each such organization should help corporations that are attracted by the idea of ​​moving their business to the blockchain sphere, implement similar ideas and implement decentralized technologies.
2. It is planned to continue work on expanding the infrastructure, for which $40 million in additional investments have been attracted.
3. The creators of XEM announced their desire to organize the work of a crypto exchange.

Given this information, there is no doubt that the rate of the XEM cryptocurrency will continue to grow in the long term. Even very cautious analysts predict that the price will soon rise several times.

Forecasts for 2018-2023

When studying price forecasts for the NEM (XEM) cryptocurrency at the end of 2020, a potential investor will be faced with different opinions. Moreover, if for other cryptocurrencies these opinions differ only in how much and for what period the price will increase, then in the case of XEM there are forecasts in which they expect not growth, but a fall in the rate.

For example, the wallet investor service, where forecasts are made based solely on technical analysis, assumes that the XEM rate will make impulse movements in the coming years. The following assessments are given:

• by the end of 2020 the price will increase to $0.92;
• by the end of 2020 it will slide to $0.83;
• by the end of 2021 it will continue to decline to $0.70;
• by December 2022 it will fall to $0.6.

It is important to understand that such forecasts take into account only the current dynamics, and since the cryptocurrency market is going through hard times in 2020, the long-term trend for NEM is still downward. However, it is important to understand that a change in the fundamental background will instantly change such forecasts.

If we take into account that the crypto market develops cyclically, and as the period of stagnation increases, the duration of the new wave of growth will also increase, then in this case the forecasts for XEM will look different:

• by the end of 2020 – $0.2;
• by the end of 2020 – $0.8;
• by December 2021 – $2.3;
• by the end of 2022 – $12;
• closer to the end of 2023 – $50;
• a rise above $100 is expected in 2024.

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