Originally launched on March 31, 2015, in Malaysia, NEM (XEM) is both a blockchain platform and peer-to-peer cryptocurrency. It was designed with the intent of providing a revolutionary consensus mechanism and to speed up blockchain transactions.
XEM is also notable for offering several layers of security for a single transaction. It provides this additional security by using smart assets, a system similar to the smart contracts that are commonly associated with ethereum.
Having peaked at around $1.90 in early January, at press time, a single NEM token can be purchased for around 50 cents.
The token has taken a bit of hit lately, having been adversely affected by the roughly 530 million dollars worth of XEM that was stolen when the crypto exchange Coincheck was hacked. In fact, on February 19, 2018, the hacker sold around 84.7 million of his loot which caused the price to decline even further.
While NEM is no longer one of the top ten altcoins in terms of market cap, there are still some folks who believe better days may be ahead for the well-known crypto. Here are three NEM price predictions looking forward.
Note: “This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.”
Adam Web is an author for the cryptocurrency site Smartereum. In an article which was published on February 18, 2018, he offered some predictions for the struggling altcoin. Web forecasts that single XEM will be trading at around 84 cents in roughly a year’s time. He went on to predict that in 5 years a single NEM will be worth around $1.65.
His NEM price predictions are based largely on the fundamental strength of NEM blockchain platform itself. He also wrote that
“the company believes that over a period, it would be able to provide blockchain solutions which are much more stable and which provide a higher output as compared to some of the other blockchains. If that happens, the value of the token would increase even further.”
NEM News Website
As one might expect from a site that is dedicated to covering XEM, NEM News is quite bullish on the token. Palwasha Saaim, an author for the site and research analyst for Lombardi Financial, believes that 2018 could be a big year for NEM.
Saaim has previously written that XEM could be trading between $1.50- $2.00 as early as this year
She pointed to factors such as NEM introducing new technology which may entice the banking industry to switch their software over to the NEM blockchain as a reason for optimism. Saaim also pointed out that NEM is the process of creating their own exchange, which she believes could minimize hacks as another reason for being high on the altcoin going forward.
The crypto site Jimobilephone 1500, which rarely shies away from making bullish predictions, has some interesting price points for NEM in 2018 and beyond. Using charts that assume growth rates similar to those which we witnessed from XEM in December (when it was near its peak.), the Jiomobilephone1500 author forecast that a single XEM token could be worth a whopping $45 by the end of 2018 and over $226 by 2020.
NEM doesn’t appear to on the verge of (or anywhere close to) reestablishing the growth rate it experienced near its peak. Moreover, the fact that their $6.81 price prediction for February of 2018 seems highly unlikely at this point means that these numbers might be best suited for entertainment purposes.
To read up more on cryptocurrency, check out our WTF is Crypto Guide. For more awesome articles by Jacques Martin, check ’em out here! For other price prediction articles we’ve published, check out our Ether Price Predictions, Bitcoin Price Predictions, Ripple Price Predictionarticles, Dash Price Predictions, and Litecoin Price Predictions!