NEM’s XEM Price Surges 10%, Foundation Signs MoU with UAE Ministry
XEM Price – The New Economy Movement (NEM)’s platform token XEM surged 10 percent against the dollar on Monday. It rose from 0.0974-fiat to 0.1046-fiat.
The XEM/USD shaped a direct uptrend while endeavoring to retest the high from Sep 6 redress activity. The value activity remedied towards 1.000-fiat later as a piece of its pullback activity. The drawback energy is still crisp and is hoping to build up a story. As it does, a close term climbing trendline could impact the match to proceed with its uptrend by shaping bullish posts and flags successively. A breaking of a solid opposition territory close to 0.1091-fiat could unfasten a potential upside activity towards 0.1121-fiat. Along these lines, a skip once more from the trendline could open close term long chances, considering the dangers are dealt with by opening stop misfortune positions at an impressively inverse bearing of the exchange.
The NEM Foundation signed a Memorandum-of-Understanding (MoU) with the United Arab Emirates’ Ministry of Community Development (MOCD). The pact enables NEM to offer consultation services to MOCD on their future blockchain projects. The agreement also allows NEM to share valuable information on its blockchain research and development on various applications that could be integrated into UAE’s information technology systems.
The UAE has a view of becoming a fully digital government by 2019. This is actually a big one for NEM.