NEM is short for New Economy Movement. The aim of this is to develop a blockchain that is advanced and smarter. It does not want to be just another cryptocurrency on the blockchain.
The NEM provides a platform through which crypto users can manage data and assets seamlessly at a low cost. The crypto organization has its coin called the XEM. Although you cannot pay it to merchants for purchases, like Bitcoin, XEM has grown a lot in value from the past times. The coin has the 12th highest market cap among the different cryptocurrencies. The NEM platform has one wallet of its own, called the Nano Wallet.
NEM Price Prediction – Who Created NEM?
Initially, NEM was known as the NXT Fork, and its first launch was in the 2014 summer. The stable platform release was in 2015, following which the codebase changed entirely for NEM from NXT Fork. That is, the community started a new platform using a new code. It is an open-source cryptocurrency token with an active community managing it.
At the time of writing, the key people are Lon Wong, the Former Founding Board Advisor. Jeff McDonald is the current founding board advisor. Alexandra Tinsman, Ronel Li, and Ken Chan are the president, secretary, and treasurer of the platform respectively.
NEM was officially founded in 2016 and is based out of Singapore. At present, less than 50 employees are working for the company.
NEM Price Prediction – NEM ($XEM) Historical Price Analysis
The initial data of the XEM token starts from 30th March 2015 when its price was $0.00028. After a slow growth in 2015, the price accelerated quickly in the first half of 2016 to reach the first peak in July 2016. The price then touched $0.0105. Following this, the price gradually decreased throughout the second half of 2016 and the initial months of 2017. Just as 2018 struck, the XEM token saw the biggest rally till data reaching an all-time high of $1.66. Again the price slowly dropped down through the initial months of 2018, reaching a little high during April at $0.4. Then the price dropped down further through the next two years, although slowly. The entirety of 2020 saw the token trading at around $0.03. But from the second half of 2020 and entering 2021, the token has been steadily increasing in value. At the time of writing, the price of the XEM token is $0.42. The price change from the last 24 hours has been 6.48%, and the trading volume has increased by 53.42%.
NEM Price Prediction – $XEM Market Cap and Supply
As of February 2021, the market cap of the XEM token is $3,749,728,886. This ranks it 22 on the market cap ranking between other cryptocurrencies. The trading volume is $260,298,314. The token has a maximum supply of 8,999,999,999 XEM coins.
NEM Price Prediction – XEM Future Price Prediction
The price of any crypto coin depends on three factors – the price of BTC, competition, and adoption rate.
Bitcoin is the influencing cryptocurrency. Unless NEM does something unique in its offerings, its price will vary more or less according to the BTC price. But if the adoption of NEM increases more, it may even become one of the top 10 cryptocurrencies by volume. But this rate of adoption depends on the community and how they develop the product in the coming times. For budding investors, here are some of the $XEM price predictions:
$XEM Price Prediction 2021
In 2021, according to $XEM price predictions, the price of NEM will more or less depend on Bitcoin since there is less time for massive adoption to occur. Some optimistic $XEM price predictions by analysis have opted for a steady increase in the price throughout 2021, with the average price reaching $0.48 at the end of the year. It is still unlikely that the NEM will outpace Bitcoin in terms of market performance, this year.
$XEM Price Prediction 2023
The mid-term price movements from now will depend on when the pandemic will officially come to an end. Of course, the world economy will boost further since people will become more confident to invest. If NEM has a steady growth until then, it may reach a high of $1 by 2023, according to popular NEM price predictions.
$XEM Price Prediction 2025
NEM by itself is a valuable project. Even if the price does not skyrocket, if the token sees some adoption, the price could be on the upside. The most optimistic NEM Crypto price predictions call for $2 by 2025, but the more conservative ones still peg the token price for an average of $1.
$XEM Price Prediction 2030
It’s hard to do $XEM price predictions for the far future. Provided the project goes on, and people adopt it well, the token price by 2030 could reach somewhere around $4 or $5. Some optimistic predictions even say that the price will touch $9 around 2029-2030.
$XEM NEM Price Prediction – Is NEM A Good Investment?
NEM is a high-risk and high-reward investment, just like other cryptocurrency investments. You might earn well if the future of NEM is good, otherwise, stand to lose some money for sure.
One thing that investors in the cryptocurrency space must know that – always invest only that much amount of money that will not affect your life if you lose it. NEM has positives for sure. If the team works well in its development, NEM could even outdo Ethereum. If that happens, expect the price to go high. But for all of this, NEM has to disrupt multiple industries, and the market cap must increase.
NEM Crypto Price Prediction – How to Buy NEM Cryptocurrency?
The first step to buy the NEM cryptocurrency is to have a NEM wallet. Choosing a good one must be your priority. Choose a wallet that is safe to use so that your XEM tokens do not get stolen.
The best solution is the NEM Nano Wallet. It is designed for XEM coins and operates on multiple computer platforms like Windows, Linux, and iOS. The next step is to buy the coin. You cannot purchase it directly using fiat currency, so you have to first purchase Ethereum. Then convert it to NEM. If you are using a Nano Wallet, it has a link to the Changelly exchange where you can trade your Ethereum to XEM coins. But as you can see, you will need to buy Ethereum first, which you can do via plenty of exchanges.
The process in the Changelly exchange is seamless, every purchase takes a couple of hours to deliver the coins to your wallet. You can also check out other cryptocurrency exchanges for a better rate and fewer fees.
Best Crypto Exchanges to Buy NEM
The second best exchange is the Changelly platform. Other crypto exchanges are Indacoin, OKex, and Triunits. Compare the prices in different crypto exchanges before making your purchase. But always prefer the crypto exchange that is more popular and is secure.
How High Will NEM Go?
The $XEM price prediction might reach $10 by the end of this decade if cryptocurrency becomes the norm form of investment. If the adoption rates increase thanks to growing trust with the community, it is even likely to reach the $10 mark quicker.
Will NEM Reach $1000?
Highly unlikely shortly for the $XEM price prediction unless there is a severe rally. But with the competition from other cryptocurrency projects and the overall unstable nature of the prices, NEM reaching $1000 is a far possibility, even according to the most positive NEM price predictions.
Is NEM Better Than Bitcoin?
Some crypto enthusiasts have called it better than Bitcoin because according to them, it is a whole new ecosystem. Some have also claimed that NEM has the best technology in the blockchain world. If it has to surpass Bitcoin soon, then it has to be because of this and also the faster transaction times and fewer transaction fees. It is also more secure and has higher scalability because there are a lot of sub-projects emerging from it. But it will still take some time for it to become popular than Bitcoin if it has to.
Takeaway – NEM Crypto Price Prediction
The NEM is a promising cryptocurrency project to invest in. If you want to explore this, go through their website and social media handles to know more about the work they do. Connect with other investors and jam with them before deciding on your investment. But, make sure you invest a safe amount. The future of NEM does look bright according to NEM price predictions.
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I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates