NEM Trading Down 18.8% Over Last Week (XEM)

NEM (CURRENCY:XEM) traded 43.2% higher against the U.S. dollar during the 1 day period ending at 12:00 PM E.T. on January 18th. One NEM coin can now be purchased for approximately $1.12 or 0.00009520 BTC on major exchanges including Bitcoin Indonesia, AEX, OKEx and Qryptos. During the last week, NEM has traded 18.8% lower against the U.S. dollar. NEM has a market capitalization of $10.09 billion and approximately $153.17 million worth of NEM was traded on exchanges in the last day.

NEM Profile

NEM (XEM) is a proof-of-importance (PoI) coin that uses the ProofofImportance hashing algorithm. It launched on March 31st, 2015. NEM’s total supply is 8,999,999,999 coins. NEM’s official website is nem.io. The Reddit community for NEM is /r/nem and the currency’s Github account can be viewed here. NEM’s official message board is forum.nem.io. NEM’s official Twitter account is @NEMofficial and its Facebook page is accessible here.

According to CryptoCompare, “NEM is a peer-to-peer crypto platform. It is written in Java and JavaScript with 100% original source code. NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm. NEM also features an integrated P2P secure and encrypted messaging system, multisignature accounts and an Eigentrust++ reputation system.NEM has gone through extensive open alpha testing starting June 25, 2014, followed by lengthy and comprehensive beta testing starting on October 20, 2014. NEM finally launched on May 31, 2015.”

Buying and Selling NEM

NEM can be traded on the following cryptocurrency exchanges: Bittrex, Abucoins, Cryptomate, LiteBit.eu, YoBit, Qryptos, Livecoin, HitBTC, COSS, Poloniex, Upbit, Exrates, AEX, OKEx, Cryptopia, Bitcoin Indonesia and Zaif. It is not currently possible to purchase NEM directly using US dollars. Investors seeking to trade NEM must first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase NEM using one of the exchanges listed above.

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