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NEM price surges; proceed with caution

NEM price surges; proceed with caution

NEM cryptocurrency surged to an all-time high of jumping to as high as $0.359 at the peak of the rally yesterday and went to the 10th spot on the list with market cap.

The surge was one percent higher than its previous high in August.

The coin has gone further higher trading at $0.524624 on CoinMarketCap. At the time of this writing, translating to a market cap of $4.7 billion. It is number 8 on the chart currently.

Also Read: BitFlyer the Japanese Bitcoin exchange enters US market

This surge follows an announcement from the company that it will launch a mini-program for WeChat later this month. The mini-program will reportedly be the first cryptocurrency wallet for WeChat although this claim is unverifiable.

However, some false claims posit that the development of the mini-program is a partnership between NEM and Chinese tech conglomerate Tencent, which is false. It is unclear to what extent the misinformation is affecting trading. And it is thus important for traders to proceed with caution.

For instance, it might mean that the mini-program will not be built in WeChat but just an extension that is optional for users to download.

 

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.