NEM (New Economy Movement) is a cross-platform ecosystem that provides solutions for organizations and individual users using blockchain and cryptography. The native cryptocurrency of NEM's public blockchain network called NIS1 is XEM. NIS1 has a network of distributed nodes that execute and record transactions on a public ledger, similar to Bitcoin. These nodes contribute to the network by receiving rewards through transaction fees, and nodes that add new transaction blocks are rewarded with XEM coins.
XEM, which has fallen 3.69% in the last 24 hours and at the time of writing, is among the day's decliners. A leading global exchange announced that it will remove the NEM (XEM) futures pair from the platform as of December 9. Following this announcement, the NEM price may have declined.
