cryptovest.com
NEM (XEM), one of the formerly prominent blockchains, has chosen December 31 for the long-awaited launch of its Catapult network. NEM 2.0, as the version is also known, has been mentioned multiple times in the past, sparking price rallies. The NEM project has also chosen a new symbol to rebrand its presence:
https://twitter.com/NEMofficial/status/1207800622109478913
Beyond the new logo, the NEM project has made most of the updates and decisions based on a community vote. Now, XEM will have to be swapped, pending the outreach to exchanges, without a set deadline for moving to a new ticker and token. From 2020, NEM will be known as Symbol, as once again was voted by the community.
https://twitter.com/NEMofficial/status/1208558686462889985
But NEM eventually took years to reach the Catapult launch, and failed to stave off the worst effects of the bear market. Now that Catapult has finally arrived, the NEM project is mentioned mostly in relation to the Japanese crypto community, and has lost its general appeal.
XEM, the NEM native token, currently trades around $0.032, falling from levels above $1 during the peak of the market boom. XEM slid significantly after the Coincheck hack in 2018, when the exchange repaid the lost tokens at $0.80.
NEM remains one of the older ICO projects, which managed to find its way into the ecosystem before the 2017 boom. However, at current prices, the XEM token has erased almost all the gains since the ICO. XEM was offered at the initial sale with a price of $0.031. Given the token sale was dated back to 2014, the project is one of the well-padded, making use of the boom both of BTC and the native token.
The NEM project has managed to achieve use cases of its blockchain to mark supply chains, especially agricultural products and food origins. NEM has also achieved a significant governance ecosystem, and has donated to charity.