NEM Rises Following Big Updates and Airdrop Plans

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In Brief
  • NEM announced its latest project upgrades.

  • The price saw a 10% increase following the announcement.

  • The NEM Airdrop of XYM is set for 12 March 2021.

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Veteran top 20 project NEM (XEM) has announced its latest update to the blockchain which includes an airdrop to XEM token holders.



Veteran top 20 project NEM (XEM) has announced its latest update to the blockchain, which includes an airdrop to XEM token holders. The price rose on Saturday, extending a week-long trend.

NEM might not be the flavor of the week in terms of popular cryptocurrency projects. However, the veteran blockchain project has been around for longer than most of the projects within the top 100. 



Following a quiet start to 2021, the project recently announced its latest improvements to the project in the Symbol 0.10.0.8 release. 

The release focuses on Core, REST and SDK releases that focus on fixing P1 and P2 issues within the project. The releases also focus on security enhancements in preparation for running a mainnet. 

Airdrop Incoming

The team is currently preparing to launch their mainnet. The team also announced an airdrop of Symbol (XYM) tokens to XEM holders. The snapshot for airdrop eligibility will take place at block height of 3,105,500. The snapshot is expected to take place at approximately 2021-03-12 00:50 AM (UTC).

The World’s most popular centralized cryptocurrency exchange, Binance, announced that it will be supporting the airdrop of XYM to holders of XEM. Binance users do not need to do anything as Binance will handle the process and credit the tokens automatically. 

The update announcement by the team saw positive price action for NEM. XEM climbed nearly 10% following the update.  The price is likely to climb further as holders and crypto traders get ready for the airdrop expected in the next week. 

Source: Tradingview

NEM previously partnered with the Bank of Lithuania. The bank issued a NEM blockchain-based digital collector coin. The Bank of Lithuania issued 24,000 digital tokens and 4,000 silver collector LBCOINs. 

The Company also partnered with travel company Travala.com in early 2020. The partnership saw Travala offer an up to 40% discount to XEM holders. XEM holders who booked through the site using the tokens as payment would receive the discount.

However, nothing significant other than that has come from the project. The XEM currency ranks 14 with a market capitalization of $6.8 billion. All eyes will be on NEM to see if the project can succeed and develop once the mainnet launches later this year. 

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. He discovered Bitcoin in 2016 when investing in a Ponzi scheme, and it was the best decision he ever made.

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