NEM is Easily a $3 Dollar Coin by the End of 2018.
NEM is Easily a $3 Dollar Coin by the End of 2018.
NEM (XEM) has gained notoriety for all the wrong reasons since the Coincheck hack. Such a brazen act of theft of over $530 Million worth of NEM have made people wonder why it was targeted by hackers in the first place. Coincheck has since closed its doors to trading as it answers to the Japanese authorities that want answers about how well their digital security system was set up. The said thieves are known to be using the dark-net to move the stolen cryptocurrency and reap from their heist without a way of being tracked by authorities.
One theory from the web is that the thieves targeted NEM coin for a reason. They saw that the coin was superior in terms of blockchain technology and they could make a good profit from selling it since the demand for the coin is self-evident.
To assess this theory, we have to take a look at NEM (XEM)’s performance in the market. The current circulation supply of the coin is at 9 Billion coins. This is 23% of the number of Ripple (XRP) coins in circulation and 49% of the amount of Stellar (XLM) coins in circulation. This means that their supply is relatively low when compared to the two blockbuster coins. This means if demand was amplified, NEM would definitely moon.
In terms of market availability, XEM were added into exchanges on April 2015. At its peak on January 4th, the coin was trading at $1.90. This is evidence that the thieves of the heist knew what they were doing when stealing NEM coins from Coincheck. NEM is easily a $2 – $3 dollar coin by the end of 2018.
This brings us to the next argument about the anticipated addition of NEM on the very famous exchange known as Binance. At the moment of writing this, Binance is ranked first in terms of 24-hour trade volume amongst all cryptocurrency exchanges. The exchange does a whopping $2.417 Billion in daily trading volume. This means NEM will have a very ready market when it gets added on Binance.
What about the performance of the coin on the day of the Binance addition?
As a trader myself, I have seen new coins being added on the site and do a cool 40% to even 200% in gains in less than a day. One such example is ChatCoin (CHAT) that was added on Binance on January 31st. During that day, ChatCoin shot from $0.27 per token to $0.541 in approximately one hour. This is a 100% price jump for being added on Binance. The price then took a nose dive to $0.245 by February 2nd. It is now trading at $0.246 at the moment of writing this.
Therefore, it is safe to predict that there will be a price pump in the value of NEM (XEM) as soon as it is added on Binance. For a seasoned trader, selling at the peak of this pump would be ideal. The next option would be to totally cash out, or buy more NEM – using the profits – at the dip that will most likely follow. But if you do not fancy excitement and own some XEM, it would be safer to HOLD.
NEM is Easily a $3 Dollar Coin by the End of 2018.
Reviewed by mir khaleq ali
on
22:44
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Reviewed by mir khaleq ali
on
22:44
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