The NEM (XEM) ecosystem continues to establish itself, with a private network launch of the Catapult blockchain software:
https://twitter.com/NEMofficial/status/995995532148592640
For now, the price of NEM is slow to regain its higher levels of the past months, growing by around 10% to $0.37. NEM trading has been displaced by more influential altcoins with short-term hype.
!XEM!
But NEM remains convinced the project is set to become the standard for business applications requiring a blockchain:
“This is a key milestone on the roadmap to release the Catapult blockchain platform publicly as well as launch the developer lab, which will lay the groundwork for our mijin enterprise cloud offering”, said Tech Bureau North America CEO Tom Beno. “Entering this new phase, we are closer than ever to realizing the promise of bringing the latest version of our blockchain technology to both private and public networks such as NEM.”
The slight disadvantage of NEM is that the market price of the asset is so dependent on the Japanese market through trading on the Zaif platform. But the Korean markets are getting gradually active, and there is some international exposure through Binance, where US-based investors represent a serious group of traders.
NEM also has a negligible effect from Tether (USDT) trading, meaning that all liquidity is organic. But the asset may see pressure when sold to acquire larger Bitcoin positions.
NEM boomed in the past month to nearly $0.50, but not even the preference for assets with a platform managed to lift prices to more impressive levels. The NEM network was competing for attention with Icon (ICX), the “Korean Ethereum”, which staged a much more impressive price performance. ICX climbed to above $4.70, but has drifted sideways for weeks now, at around $3.90.
This article appeared first on Cryptovest
