Nem (XEM) is currently trading at $0.0535, and is one of the most successful investments one could have made in the last 5 years. Just in case you find this confusing, given how much value NEM (XEM) has lost since the bear market started, here are some interesting statistics. Since its inception, NEM (XEM) is up by 9000%. No other asset class outside of the crypto market has returned such a huge ROI within the last 5 years. Only other cryptos have given such huge returns in this period.
Comparing it to other cryptos, NEM (XEM) has over the last one year gone down market cap rankings. It currently ranks at position 22 on coin market cap, down from its top 20 position earlier along. This was largely due to the hacks that affected it in 2018.
However, in spite of its losses, NEM (XEM) is regaining its value. That’s because, it has made significant gains from its yearly lows. In the last 52-weeks, NEM (XEM) hit a low of $0.03414. Since hitting this low, NEM (XEM) has rebound to its current price of $0.0535. That’s a 55% increase in value from its 2018 lows. This indicates that NEM (XEM) could be making a long-term change in trend, with bulls slowly taking over the market.
To understand this change in trajectory, we can look at the higher lows that NEM (XEM) has been making. In the last 90-days, NEM (XEM) lows were similar to its 52-week low. However, in the last 30-days, this has significantly improved, making a higher low of $0.0509. It seems to have established strong support on this low, an indicator that there is strong buying pressure along this level. The highs that NEM (XEM) has been making also point to a crypto that is on a rebound. In the last 90-days, NEM (XEM) has made highs of $0.078 a significant rebound from a low of $0.03414.
Looking at the volumes, in the last 48-hours, they have been on the rise, but have dropped slightly in the last 48-hours. In this period, NEM (XEM) volumes have dropped from $12,083, 594 to 11,221,244. That’s a 7% decline, and not enough to warrant investor attention. The decline in volumes can be attributed to the overall drop in volumes in the entire market. Comparatively, NEM (XEM) volumes haven’t declined much in the last 24-hours. It’s an indicator that it is gaining upside momentum.
The only thing that could hold back NEM (XEM) in the short-term is its supply. NEM (XEM) has a circulating supply of 8,999,999,999 coins, and there is no data on its maximum supply. That’s a whole lot of coins, and could hamper value growth in the short-term. However, in the long run, as its adoption grows, NEM (XEM)’s value will grow in spite of its high supply. It could possibly retest its all-time highs of $2.09 at some point in the future.