NEM (XEM), as a rather new coin, has been doing quite well by managing to reach the spot of the 14th– best currency on the global coin ranking list. During its time, NEM managed to reach an all-time high of 1.90$ with being close enough to hit the price of 2$ and beyond. However, we can now see it trading in the red while dealing below the 1$ price. On the bright side, NEM is working on some technological improvements that could come off as very important for the further development of XEM and its platform, which might potentially sky-rocket XEM.
NEM XPOS Devices and Pundi X
Back in the final quarter of 2017, NEM (XEM) partnered up with Pundi X. Pundi X has come up as truly a refreshment for the world of retail business, as this company started out with the idea of implementing cryptocurrencies into the retail industry in oppose to the traditional way of doing the mentioned business.
Moreover, the mentioned partnership took their cooperation further when Pundi X released the first 20.000 NEM devices that were planned prior to the partnership and enabled due to Pundi X’s plan of creating beta versions of their retail system.
The initial devices are released under the name NEM XPOS and NEM network is set to distribute these devices for all the interested retailers.
These devices are specially constructed for retail business and serve the purpose of making XEM based transactions even faster when compared to its current speed of processing transactions.
In addition to that, the main objective is to enable instant payments with NEM units to all customers that are interested in paying for products with XEM units.
The expected result is to have NEM more widely accepted, that way encouraging the adoption of cryptocurrencies for making payments in the retails business.
NEM Announces Catapult
Consensus 2018 held in New York had a pretty ecstatic atmosphere as many crypto representatives that were a part of the summit had some great announcements to make about the upcoming novelties and changes.
That is how NEM was no exception as the team behind XEM announced Catapult, which is a new blockchain-based engine, designed to present a new version of NEM protocols.
Catapult is a long-anticipated update for NEM that at the same time represents the new version of mijin, so that being said, Catapult is also known as mijin v.2.
With this version, new protocols are enabled for public and private networks that are set for the needs of enterprises.
In addition to launching new protocols, they are also working on a new release that would enable users to gain the access to a special development lab where companies, as well as individuals, could use this self-service development lab without the need of manipulating their own infrastructure of the network.
This announcement was a huge deal for NEM (XEM) as Catapult has been worked on for three years, with the team working on developing, testing and improving this system, which is why it is considered that Catapult might as well catapult NEM (all puns intended).
This is considered because Catapult has presented numerous features that are not able on other competitive blockchain ecosystems, with those features enabling the integration of blockchain technology in the industries of food, logistics, money systems and protocols, and more.
NEM and the Market
After taking a short break that didn’t last longer than 4 days, NEM alongside with the majority of currencies is trading in the red once again.
Following the latest change in the market, we can see the majority of currencies going down against the dollar, while XEM is no exception to the latest market losses.
Although XEM has managed to rise for 200% in the course of a single year, we can see it in the red on weekly and monthly charts.
XEM has lost -7.9% of its value during the course of the last two months, while it also went down by -10% in the course of the last 30 days, although a great portion of top cryptos has shown some great results in the period of the last month.
In addition to losing on its value during the 60-day and 30-day period, XEM has also gone down against the dollar in the period of the last seven days by -15% against the dollar.
Following the latest change in the market, NEM has dropped by -8.26% in the last 24 hours against the dollar.
NEM (XEM) can be now traded at the price of 0.32$ per one unit, with no clear signs in the market of going back to its record price by far. However, the latest technological improvements might as well catapult XEM in the following months.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.