Asian Cryptocurrency Trading Roundup: Top Altcoin is Nem

0
13

A green start to the week is a good sign in crypto land. Weekends usually spell a selloff but positive buying pressure has been maintained this morning in Asia and crypto markets have remained well above $300 billion. Bitcoin has made gains above the key $8,000 level and is currently trading just over a percent higher on the day at $8,150. Nearly all of the altcoins are in the green this morning and one leading the charge at the moment is Nem.

Coinmarketcap is reporting a 15% increase in XEM over the past 24 hours. Currently trading at $0.35 Nem has risen from $0.30 this time yesterday and has posted the largest gain among the top 25 cryptocurrencies. Weekly gains have also been strong as this altcoin has climbed 52% from $0.23 this time last Monday. Over the past month it has regained all losses and is trading at the same level once again. Compared to Bitcoin Nem is up around 14% to 4350 satoshis from 3800 sats the same time yesterday. Since last Monday it is up almost 30% from 3375 satoshis at the beginning of last week.

The Nem developer team has been very active with a number of well publicized meetings and conferences across the globe in recent weeks. The altcoin seems to be recovering from the Coincheck hack which resulted in the theft of over $500 million in XEM tokens. The exchange has reimbursed most of the losses back to its customers. Nem had a tough month in March, losing around 43% of its value in that month alone. It seems to be on the way to recovery now as crypto markets rebound a little.

The majority of Nem trade has been carried out in Japan in the past 24 hours with Zaif exchange taking almost 40% of the total volume in JPY. South Korea’s Upbit has second share with 24% in KRW. Total volume is around $100 million and Nem has a market cap of $3.2 billion which ranks it at 11th place.

Total crypto market capitalization has increased 2.5% over the past 24 hours and currently stands at $329 billion. However, this rally still has a long way to go before it can be considered a true reversal. Other altcoins with solid gains during the morning’s Asian trading session include Cardano, Stellar Lumens, Bitcoin Gold, and Bytecoin.

newsbtc.com

Your reaction

NICE
SAD
FUNNY
OMG
WTF
WOW

React with gif