NEM’s market cap has passed $2 bln as the altcoin’s exponential growth spurt continues to surprise.
Already at $2.4 bln as of press time Friday, NEM’s XEM token has seen such rapid increases in value that it is now the third-largest altcoin.
Congratulations to NEM for achieving number 4 in https://t.co/hnkyxosvuD and with 2 Billion Dollar marketcap! #blockchain #nem #catapult pic.twitter.com/tZKRkM0VD2
By way of comparison, XEM’s market cap last week was just over $1 bln, while on April 19 it stood at $300 mln.
Price growth data from Coincap.io demonstrates the monumental rate of change for XEM, which has increased more sharply than even Ethereum and Dash, commonly considered to be the major success stories of 2017 on altcoin markets.
Motivation for NEM’s sudden reversal of fortunes is hard to ascertain. Publicity and community debate is focusing on the future introduction of Catapult, a permissioned Blockchain product touted by developers as unique on the market.
The 24 hours to Friday has seen broad success among altcoin assets meanwhile, only Ripple bucking the upward trend to lose 8.5 percent.
Its own rise, which saw it overtake Ethereum by market cap earlier this week, has been tempered by widespread criticism from cryptocurrency commentators regarding its lack of decentralization.
Bitcoin Price Technical Analysis for 10/24/2017 – Deeper Correction Underway
Bitcoin Price Key Highlights Bitcoin price is in the middle of a correction and is around the decision-making point for buyers. Technical Indicators Signals The 100 SMA is above the longer-te
Bitcoin Gold Initiates Hard Fork Split to Create New Cryptocurrency
A new cryptocurrency has been created through a hard fork of the bitcoin blockchain.
Completing a process that began in July, the bitcoin gold technical team has taken what it calls a "snapshot" of
Bittrex Release Statement on Bitcoin Gold
One of the planetâs largest cryptocurrency exchanges, Bittrex, has announced that they will not support Bitcoin Gold trading immediately. Whilst they state that all Bitcoin (BTC) balances will
Lawsuit Against $232 Million Tezos Being Prepared, Not Likely to Succeed
Earlier this week Paul Vigna of the Wall Street Journal reported that the launch of Tezos has been delayed due to the conflict between its founders over the ownership and control of Tezos.
Saudi Prince Al-Waleed: Bitcoin Is 'Going to Implode'
Saudi Prince Al-Waleed bin Talal sharply criticized bitcoin during an appearance on CNBC today, saying that he agrees with JPMorgan CEO Jamie Dimon's assessment that the cryptocurrency is a "fraud."
Prince Alwaleed: Bitcoin is “Enron in the Making”
In a statement that will no doubt have many readers uttering âwell, duhâ, Saudi Arabian businessman and billionaire Prince Alwaleed has come out with scepticism about Bitcoin. Speaking on CNBCâs
TeleX AI: Making the Transition from GUIs to AI in Cryptocurrency Trading
Everyone uses instant messengers and chat applications like Telegram, WhatsApp, WeChat and more. Now, what if buying, selling and storing cryptocurrencies was as easy as interacting with a friend
Bitcoin will ‘Implode’ Like Enron: Billionaire Saudi Prince Alwaleed
Saudi Prince Alwaleed bin Talal believes that bitcoin is “going to implode” due to a lack of regulatory supervision.
The bitcoin price has surged by more than 50% in October, enabling it to set new