With many institutional investors staying on the sidelines, NEM appears to be on a mission to woo select partnerships to its fold. With mainstream coins still in the struggling zone in the market, third generation digital assets appears to be gaining the lime light. NEM (XEM) is taking the advantage and attracting reputable partners.
One of the reasons why NEM has been gaining ground steadily since its launch early 2015 is because of its secure nature. With many Altcoins experiencing security breaches, the coin has remained clean. The Proof of Importance protocol appears to give the dApp focused outfit a secure foundation that has helped it wither the market volatility affects and maintained low transaction fees.
Despite offering bespoke dApp solutions in the market as its focal point, NEM has been hit by the unstable market but s headed for a price reversal. This is a fast and secure data handling outfit that is compatible with many existing traditional IT and payment systems.
NEM stability is based on its popularity among Japanese and Malaysia where is has its key offices. Its popularity among the Asian partners makes it a coin to watch. It is interesting to note that XEM/YEN pair has been very popular and is almost rivaling the XEM/BTC pair.
NEM Recent Partnerships
NEM (XEM) has been working on its infrastructure and the recent upgrade appears to be what the strategic partners were waiting for. After the release of SDK element 0.9.3 meant to boost the NodeJS 10, thinks appears to be looking up. This upgrade has led to implementing XPOS that has seen more investor interest on the steady growing platform.
NEM got a boost from the May New York Consensus after inking a deal with Multiversum and ProximaX. The tree outfits will work together by integrating their systems to form a formidable decentralized data depository. During the event, the Multiversum Founder, Andrea Taini hinted that the partnership will focus on DOS:
“Our Vision is to develop together a set of tools to be integrated into a sort of Decentralized Operation System. A system that would meet every decentralized application needs. Multiversum provides a decentralized DataBase to secure data in the blockchain, data streams, and lastly, NEM assists this integration with several tools, representing the engine of the decentralization. Thus, a perfect conjunction of knowledge and capability.”
NEM Partnership with New Zealand BitPrime
The NEM BitPrime partnership has drawn a lot of interest in the crypto verse. BitPrime is a Christchurch supported outfit that will collaborate with NEM and help its community tap into its compliant and secure platform for fast transaction speed backed by the NEM cryptocurrency. This will serve the New Zealand BitPrime community and NEM (XEM) will help it spread its wings globally.
BitPrime is trusted in New Zealand retail marketplace player and has over 50 digital coins and a deal with NEM will see the retailer benefit from NEM airdrops and other bonuses that come with it. According to NEM expansion director in New Zealand, Jason Lee:
“Firms like BitPrime are a key part of the blockchain and cryptocurrency ecosystem. This partnership will signify a big win for both parties because of the shared commitment to help ordinary members of the public and enterprises to understand and trade cryptocurrency.”
NEM (XEM) Price Check
The NEM (XEM) price has been in the oscillation mode for the last 30 days and just like other Altcoins, it seems to not to have stabilized and this could take a while. However, with the recent upgrade and partnership, the last 7 days have seen the coin get to the green trading one.
At the time of going to press, the NEM (XEM) token price stood at $0.169139 after a 24-hour trading that has seen it gain 3.36% to the green buck and 4.45% to Bitcoin. The marginal price spike spreads across the 100 top players though it appears it is not a long term break out but with XEM, the gains might spill over to the next 7 days.