2018-11-12 18:39

The market leader Bitcoin is having a slow start to the week trading sideways. Altcoins, however, are showing mixed performances with many showing small losses and others showing large gains.

NEM, the 17th largest cryptocurrency by market cap, is among the top performers in the top 100 with an over 15% appreciation over the past 24 hours at the time of writing. NEM increased from around $0.093 to approximately $0.108 at the time of writing. the spike gained significant momentum and briefly reached a high around $0.15.

The key catalyst for the surge was the relisting of NEM onto Coincheck exchange. Listings to exchanges can often result in spikes such as the one being seen in NEM as it opens up the product to a new pool of capital.

NEM Daily Chart – Source: Tradingview.com

Price is currently extremely volatile, the key challenge with trading announcements such as the relisting to Coincheck is it is difficult to assess when the move is over. Price of NEM violently swung in the opposite direction once it reached its intraday high near $0.15. Price is starting to somewhat stabilize around the current price, but future follow-up swings could be in store.

NEM Hourly Chart – Source: Tradingview.com Key Takeaways: NEM undergoes significant surge after relisting to Coincheck. NEM rose from $0.093 briefly to a high near $0.15 and violently swing in the opposite direction. Price currently trades near $0.108 and is somewhat stabilising. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

NEM Among Top Performers in Top 100 After Coincheck Relisting was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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