NEM (XEM) prepares to unleash the latest blockchain applications: NEM trading volume falls by 25.25%

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  • NEM market capitalization has remained stable in comparison with the trading volume.
  • NEM Catapult product is set to revolutionize cryptocurrencies with its layer-based architecture.

NEM embraced the recent bullish trend in the market and recoiled higher breaking several resistance barriers but failed short of $0.20. The price reacted with lower corrections rejecting the support at $0.17 to trade as low as $0.1632. NEM is, however, edging higher today and is currently trading at $0.17. NEM trading volumes have been up and down the entire week. Besides, the volume is down 25.25% in the last one week. Its market capitalization has remained stable in comparison with the trading volume. The market cap has stayed above $1.4 billion while achieving $1.69 billion on one of the days in the week.

In the latest NEM news, the Vice President of NEM Foundation, Jeff McDonald shared the future plans of the network at the recently concluded Blockchain Forum 2018. McDonald talked about smart contracts as well as the future of dApps in the market. The VP also shared more about the integration of NEM blockchain into WeChat messaging application platform. The blockchain technology will make the platform ‘unhackable’ and elevate it to tamper-proof ecosystem status.

McDonald then dived into the features that make NEM blockchain better than Bitcoin and Ethereum blockchains. He talked about the plugins that are integrated into the protocol making communication and transactions on the network seamless. These plugins are just a small part of the Catapult products that is set to revolutionize the blockchain technology using its layer-based architecture.

Significantly, the VP emphasized that NEM blockchain is secure and that users’ coins have never been lost. He also shared more information on what powers the NEM cryptocurrency and other coins like Bitcoin and Ethereum.

“The products that NEM and Catapult create is not just a step in the right direction for blockchain technology but also for mainstream public consumption. For example, we have partnered up with LoyalCoin in the Philippines to create a system where people can walk into a café and pay for their food using Loyalcoin.”

Before concluding, McDonald gave more insights on how one-step transactions have the ability to positively impact the market and the industry. He said that NEM blockchain will be at the forefront of this technology re.

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