SBI Japan is about to launch what will probably be one of the world’s largest cryptocurrency exchanges. While this is good news for the overall growth of crypto space, NEM investors may not like it that much. That’s because SBI will not be listing NEM (XEM). Could this negatively affect the value of NEM, by sending the wrong message about its credibility? Most likely not! And there are a number of reasons to back this up.
First, getting listed on an exchange never really affects the long-term value of a crypto. It only leads to a short surge in volumes, then things get back to normal. Once the dust settles, it is fundamentals that determine the long-term trajectory of a crypto. In the case of NEM (XEM), it has some solid fundamentals to it.
For instance, it is one of the most customizable blockchains in the smart contracts space. It also allows for the easy co-adoptions of public and private blockchains. These two factors have played a role in the adoption of NEM across industries, and will continue to do so in the future. Besides, the fact that it has already been adopted by different companies and shown to work, is prove enough that it is practical. There are many blockchain projects out there that are over-hyped, yet they are still concepts that haven’t been proven in the market.
Second, not getting listed on SBI japan doesn’t mean that NEM is not getting into other equally big exchanges. For instance, NEM (XEM) is already trading on Binance, Bittrex, Poloniex and Upbit. These are some of the largest and most liquid exchanges in the world, and are guaranteed to continue supporting the value of NEM (XEM).
NEM will also be one of the cryptos trading on Zeus, one of the most innovative crypto exchanges to enter the market. Through this exchange, people can buy shares of companies from all across the world, without the cost and geographical restrictions that they currently encounter. The most interesting thing about Zeus is that it will first trade NEM exclusively before moving on to other cryptos. This will give NEM (XEM) some publicity boost in the market, publicity that will drive up its value.
On top of that, NEM (XEM) has some interesting news coming up too, outside of crypto exchange related news. For instance, the NEM catapult is in the pipeline. Once its launch date is officially announced NEM will make some serious gains, as investors move to take advantage of this development.
Clearly, even without a listing on the upcoming SBI exchange, there is so much more to look forward to, for NEM investors. It is probably one of the most solid blockchain projects in the market. It is not inconceivable for NEM (XEM) to close this quarter at $1 and above. As a matter of fact, it could be one of the projects that will surprise investors in 2018. The current price action is already showing signs of growth in that direction. It is up over 3% in intra-day trading, way higher than bitcoin and other major cryptos.