NEM Price Rebounds to Two-Month High Following Coincheck Relisting

The price of NEM tokens (XEM) has risen some since Japanese exchange Coincheck announced that it would once again allow trading of the token, which was suspended after a hack at the exchange led to a more than half-billion dollars in tokens being stolen and systematically laundered through other exchanges.

The XEM price started picking up momentum just before the announcement. It presently sits at almost 12 cents per token with a market capitalization of nearly $1 billion, a far cry from its January high (which had built up from momentous trading throughout last December) of nearly $1.50.

NEM is 15th on the current list of tokens by market capitalization. It hit a high of $0.114 overnight, but currently sits about .007 less than that, at time of writing being worth $0.107375, marking a 16 percent gain. It beats out notable contenders like zcash by hundreds of millions of dollars.

Ripple’s XRP token has a posted a 6 percent profit to establish a fresh weekly high towards $0.534. The bullish behavior also got the coin close to replacing Etherum as the second-largest cryptocurrency by market cap. Japan’s MUFG Bank on November 9 announced the signing of a Memorandum of Understanding (MoU) with Banco Bradesco S.A., a Brazil-based banking service. The MoU discussed a partnership between the two organization to create a cross-border payment corridor that would be powered by the Ripple technology.