Categories: Bitcoin Business

Up 55%: NEM (XEM) Defies Crypto Snooze as Week’s Biggest Gainer

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A 'catapult' update to the NEM blockchain has propelled XEM price considerably this week. | Source: Shutterstock

By CCN: The crypto market took a breather from its bull run this week, with Bitcoin slightly departing from its recent year-to-date peak. However, NEM has been defying this mini-correction mood to gain over 55 percent since Monday, according to Coinmarketcap data.

Thus, NEM, whose coin is trading under the ticker XEM, has been the best performer of the week among the top 100 coins. On Thursday, it jumped about 50 percent in less than six hours, hitting a daily peak at $0.108, which is the highest level since November 2018.

The surge allowed it to enter the top 20 league and currently stop on the 19th position. NEM is now trading at $0.087 at a market cap of $791 million as at 11:00 AM UTC.

NEM Holders to Spend XEM via Apple Pay and Samsung Pay

On Thursday, NEM caught investors’ attention with a tweet that announced the collaboration with Zeux.

Great news on our latest collaboration with #NEM! You can now use #Zeux to pay with #XEM on your mobile. @NEMofficial @2017Lon @Inside_NEM @frankjzhou https://t.co/QeX99jcjWe#cryptocurrency #payments #fintech #paytech #startup #cashless #massadoption #blockchain

The industry might be oversaturated with countless less relevant partnerships whose main purpose revolves around marketing. However, at this time, the news has some substance, as Zeux is a fintech firm that operates a digital payment wallet app that allows users to spend with merchants through Apple Pay and Samsung Pay.

The London-based company will fully integrate XEM on May 23.

NEM Foundation co-founder Jeff McDonald commented on the partnership, noting that the utilization of XEM as a payment option was a major step for the blockchain network.

However, this is not all, XEM price also benefits from the gradual launch of its version 2.0 blockchain engine, called Catapult, and the update of its website, which suggests a positive dynamic at NEM Foundation.

NEM’s Catapult Update is Catapulting XEM

NEM is making further steps towards adopting its blockchain engine update, referred to as Catapult. The new version will host several smart contract plugins and features that will eventually become an integral part of the NEM blockchain network. The new plugins touch upon bulletproof digital asset creation, advanced account systems, decentralized swaps, and business logic modeling.

What's new in NEM version 2.0, also known as #Catapult?

Catapult is a full-featured #blockchain engine that powers both private and public networks with its unique smart contract plugins

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