XEM migration to Symbol phase 1 begins, price eyes $0.17

[VeryWellDone]

NEM group developers have been working around the clock to ensure that the cryptocurrency migration process to Symbol, a next-generation enterprise-grade blockchain protocol, is smooth. It is essential to note that XEM users, the official token for NEM, will have to get ready for a snapshot that will convert their coins to the new XYM token on a ratio of 1:1.

At the time of writing, NEM (XEM) is trading at $0.1118. The token is still trading a lower high pattern. However, a higher low pattern formed from the beginning of September has formed a symmetrical triangle pattern.

The Relative Strength Index shines a light on the gradual uptrend above the trendline support. Movement of the indicator above 40 and 50 key levels would most-likely signal an increase in buying positions, which may eventually propel XEM above the triangle resistance. If a swell in the volume supports the breakout, NEM could easily climb above $0.14 and $0.17 critical hurdles. In July NEM rallied over 50% and chances are that it can repeat the same spike as long as fundamtal levels continues to improve.



Will this update help us get NEM ($XEM) break past top 20 cmc? I imagine more people acquiring $XEM because of their 1:1 airdrop

[Rollinginthedeep]

Will this update help us get NEM ($XEM) break past top 20 cmc? I imagine more people acquiring $XEM because of their 1:1 airdrop

Yes, it should. Getting a quality coin for free while holding XEM is always a win-win situation for crypto holders.

[VeryWellDone]

Where can I read more about the tokenomics of their migrated token? Would love to learn more about it before trying to acquire a bit of XEMs.

Source - https://symbolplatform.com/tokenomics/