NEM

(XEM) Price

$0.1079 +0.0008357 (+0.7803%)

NEM (XEM) Price

XEM - USD

$0.1079
+0.0008357 (+0.7803%)
0.00001667 BTC (+1.21%) Real time data

Last trade

36.45900000 XEM

livecoin $4.02

Market cap

$971,709,807

9,002,572,817 XEM

Volume (24H)

$21,794,421

201,918,165 XEM

Day's range

$0.1061 - $0.1202

0.00001638 BTC - 0.00001856 BTC

Open price (24H)

$0.1071

52 weeks - low

$0.1000

52 weeks - high

$2.06

52 weeks - AVG volume

$37,514,239

Supply

8,999,999,999 XEM

Max supply

2,147,483,647 XEM

Details

Type
Coin
Block
Mineable
Since
Mar 31, 2015
Website
Algorithm
N/A
Proof Type
PoI

What Is NEM Cryptocurrency? 

New Economy Movement (NEM) was built with miners in mind. It is an independent Blockchain and is not built on any other chain. The digital currency has introduced a number of new features that have helped differentiate it from Bitcoin and Ethereum.

NEM operates using a unique Proof-of-Importance algorithm that helps determine the user who is going to calculate the next block. The algorithm makes it possible to reward people who make the biggest contribution to the currency development and distribution.

Furthermore, unlike Bitcoin and Ethereum, NEM is environmentally friendly.  Its upkeep does not require hundreds and thousands of hogging mining machines. It is ranked as the 7th largest cryptocurrency with a market cap of nearly $2 billion (End 2017).

History of NEM

BitcoinTalk forum user UtopianFuture, started NEM development in early 2014 and open call for participation began on the BitcoinTalk forum with the aim of creating a community-oriented cryptocurrency.
The project attracted 1500 early investors all of whom bought NEM stakes with 1 stake representing 2.25 million XEM (the name for the currency).  The first Alpha version of the cryptocurrency was released in June 2014 with beta production following in October the same year.  The first stable release vision came into being on March 31, 2015.

The code for NEM was written in Java from scratch, as opposed to other cryptocurrencies that have come into being from the alteration of existing codes.

How Does NEM Work

NEM is the world’s first smart asset Blockchain that uses a streamlined method to maintain secure ledger of transactions. The smart asset system allows people to implement and customize Blockchain for smart contracts. The background technology can also be used for voting, crowdfunding, stock ownership, and secure record keeping.

Unlike other cryptocurrencies, NEM coin is not intended to be used as a currency, but a customizable Blockchain based technology for business purposes. 

NEM is incredibly scalable and its transaction speeds are comparable to Bitcoin. XEM coin transactions take about 6 seconds to show up and about 20 seconds to be confirmed. A planned network upgrade will boost transactions speeds allowing it to process thousands of transactions a second. 

The cryptocurrency is different from other digital currencies, because of its traceability aspect. Unlike other cryptocurrencies, NEM does not have any private transactions. The traceability aspect allows security features for buyers and sellers to be easily implemented. To date, it has not encountered any major security issue compared to other cryptocurrencies that have been hacked.

How to Mine NEM

Harvest is the process by which new blocks are added in NEM network in what is commonly referred to as mining. Unlike other cryptocurrencies, NEM uses a new and improved consensus method called Proof-of-Importance for mining.

A person must have a least 10,000 invested in the XEM account running booted and synchronized node for NEM mining purposes. Once a miner creates new block, it is added to the chain and fees delivered to his or her account. NEM also has a new feature called delegated harvesting that allows people to request others to form blocks and process fees from them.

NEM Price Analysis

At the end of 2017 NEM crypto had a market cap of $2.5 billion with a 24-day average trading volume of $29.6 million. Its average trading volume against bitcoin is 2,671. (Dec 2017)

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Latest Closing Price Open/Close in UTC time

Date Close Price Open price Volume (24H) Market Cap Day's range
Aug 17, 2018 $0.1171 $0.1034 $20,771,153 177,356,888 XEM $1,048,435,976 $0.1034 $0.1181 $0.1171
Aug 16, 2018 $0.1034 $0.1063 $15,656,743 151,367,005 XEM $933,256,954 $0.1001 $0.1067 $0.1034
Aug 15, 2018 $0.1063 $0.1070 $14,084,103 132,483,482 XEM $953,578,911 $0.1053 $0.1137 $0.1063
Aug 14, 2018 $0.1070 $0.1065 $13,737,663 128,349,635 XEM $959,311,608 $0.09761 $0.1070 $0.1070
Aug 13, 2018 $0.1065 $0.1077 $13,025,058 122,268,582 XEM $959,931,730 $0.1061 $0.1168 $0.1065
Aug 12, 2018 $0.1077 $0.1088 $9,038,312 83,911,877 XEM $966,546,850 $0.1070 $0.1104 $0.1077
Aug 11, 2018 $0.1088 $0.1146 $10,362,671 95,261,119 XEM $972,190,759 $0.1033 $0.1149 $0.1088
More NEM Historical Data

NEM Exchanges

Exchange Pairs Price Open price Range (24H) Volume (24H) Change Updated
HitBTC XEM/USD $0.1076 $0.1069 $0.1200
$0.1058
$550,259
5,112,934 XEM
+0.6641%
$0.0007100
Recently
LiveCoin XEM/USD $0.1168 $0.1112 $0.1590
$0.1099
$21,171
181,212 XEM
+5.11%
$0.005680
Recently
YObit XEM/USD $0.1294 $0.1216 $0.1300
$0.1215
$120
928 XEM
+6.44%
$0.007824
Recently
More NEM Exchanges