The cryptocurrency market is moving very slowly today. Some of the top coins are in the red: Bitcoin at -0.20% and Ethereum at -0.36%. Small losses, but pretty appropriate for a day when the market is dragging its heels. However, there are very notable NEM gains happening right now.
NEM (XEM) is, without a doubt, today’s biggest winner, having grown 13% in the last 24-hour period. So, what has NEM trading in the green, especially when every other coin is pretty much asleep!?
Let’s find out!
NEM (XEM) is ranked 17th on CoinMarketCap’s top 100 cryptocurrencies. And as stated, XEM is currently the best-performing digital asset of the day.
NEM currently has a market value of $999 million and an average daily trading volume $24 million. At the time of writing, NEM gains have it selling at just over $0.11 USD.
The Reason for the Move?
NEM’s bullish wave is likely due to a new partnership with Timechain Wallet. The wallet recently added support for the coin and offers holders “multiple side-chain wallets with Timechain” along with the capability to “buy and sell digital assets right from their wallets.“
The platform is described as a “useful tool for crypto assets management and an instrument for natural interaction with other blockchain-based services and users.”
So can Timechain Wallet offer NEM holders a door to bigger things? It seems the market reaction says yes.
According to the CEO of Timechain, Louis Cleroux, NEM technology is a leader:
“Wallets are becoming the centerpiece of blockchain mass adoption. Timechain strives to offer the most simple solution to use blockchain and cryptocurrencies to its users. NEM technology is a front-runner for digital assets management. We need to popularize this amazing tech to the market. Businesses will dramatically reduce their cost and greatly increase their distribution reach by using this solution,”
However, another new partnership has just come to light. NEM will be teaming up with Unibright, an enterprise-grade blockchain platform, by adding NEM oriented code generation to the Unibright framework.
Perhaps this is causing NEM gains. We will wait for more on this. Stay tuned!
Featured Image: Depositphotos/© yacobchuk1
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