NEM Soars As 15th Largest Crypto After Coincheck Relisting

Nov 13, 2018 at 20:25

New Economy Movement (NEM) on Tuesday reached its highest in over two months to become the 15th largest cryptocurrency after its return on Japanese exchange Coincheck.

Since its return on Coincheck was announced, its token, XEM, continued to rise, even peaking at $0.121945 in the afternoon trading.

This is the first time XEM traded at the $0.12-level since September 4, when it closed at $0.1266.

On Monday, NEM announced its return on the Japanese exchange through its official Twitter account. At that time, it was still the 17th largest cryptocurrency in terms of market cap.

Last January, NEM was suspended in the Japanese exchange after a hack led to a theft of more than $500 million worth of tokens through other exchanges.

As of this writing, the coin is trading at $0.1192 a piece with a market cap of $1.07 billion.

Towards the end of October, NEM also recorded a value upgrade when reports came out about its partnership with another altcoin and plans to expand in Australia. Rumors swirled about its active partnership with CloakCoin, an altcoin known for having a quick, private, untraceable and user friendly transaction system with guaranteed fungibility.

DisruptBlock made a review of the coin back in May which can be accessed here.