The cryptocurrency investors had many reasons to celebrate on February the 6th, 2020, as NEM (XEM) was a leader in a price recovery for many major cryptocurrencies. NEM (XEM) adds another 25 percent following the bitcoin price gain of January so we are about to read more in the NEM news today.
Data from Coin360 and Cointelegraph Markets displayed XEM making gains of about 25% overnight on Wednesday, coming back over $0.06 per token for the first time since August 2019. The move comes as other cryptocurrencies saw new gains, with some of them in the top twenty by market capitalization expanding by more than 10%. Tezos (XTZ) closed monthly gains of 80%, surpassing even the track record of Bitcoin (BTC) since the start of this year.
Ethereum (ETH), the second-largest cryptocurrency, brought returns of 9.5% in the 24 hours till the publishing of this article, holding support above $200. Michaël van de Poppe the analyst of Cointelegraph Markets, notes that other tokens to keep your eyes on are XRP and Stellar Lumens (XLM). While the performance of XRP was not impressive in the past weeks, a push above $0.28 encouraged traders, with the analyst of Cointelegraph Markets, Michael van de Poppe notices that XLM responded to XRP progress with a copycat move.
“If XRP moves, then Stellar Lumens usually follows. The XLM/BTC pair is showing signals similar to the XRP chart,” he said in his latest market update on Wednesday.
Besides that NEM (XEM) adds more value others are still suffering at a fraction of their best highs both in Bitcoin and in the US Dollar. This fiasco to reconquer lost ground, last experienced in the first half of 2018, made few famous commentators predict the end of cryptocurrency markets in 2019. Peter Brandt and Max Keiser, among many others under that circumstances were focused wholly on Bitcoin.
he 29th ranked crypto by market cap, NEM wakes up and got one-quarter of its value back into the day’s morning. The altcoin had previously lost 97 percent of its value in the two-year decline that goes back to January 2018 and this past month, the XEM cryptocurrency dropped to its lowest value in over 2.5 years.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]