NEM value bounces back two 60-days peak after Coincheck readded the currency to its list

NEM value bounces back two 60-days peak after Coincheck readded the currency to its list
Nov 13, 2018 by Rico Wise

Coincheck, the Japanese digital currency exchange, has announced the resumption of services for the NEM currency, which was paused subsequent to a cyber attack at the cryptoexchange, which caused over 500 million USD worth of tokens getting stolen and subjected to laundering.

The XEM value has begun to grow immediately after the news. Currently it is worth approximately 0.12 USD with a market cap at almost 1 billion US dollars, which is only little compared to the early 2018 highs at a price of around 1.50 USD. NEM currency takes the 17th rank on the current list of digital currencies by market cap. It reached a peak of 0.114 USD within one day, but currently records a 16% gain with a price of 0.107375 US dollars, outperforming currencies like ZEC by hundreds of millions of dollars.

It is always important to note that in liquidity might or might not be there for the total market cap of a certain digital currency. Only those digital currencies that exercise active and wide cryptotrading versus fiat currencies can be safely declared as currencies possessing a certain amount of market cap. As for the digital currencies that are hugely traded versus greater digital currencies, the truth of their market cap is a lot harder to measure, as prices have a tendency to decline abruptly upon cascading sales. Still, it is crucial that the currency maintains a price over 0.10 USD in spite of its past issues and bravely faces a massive supply of almost 9 billion coins.

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