New Economy Movement (NEM) hit a nine-week price high on Monday despite a neutrally toned cryptocurrency market.
That market development coincided with a more than three-month high in 24-hour trading volume the same day, according to data collected by CoinDesk. The world's 17th largest cryptocurrency by market capitalization rose to $0.114 at 09:15 UTC – its highest price since Sept. 5, while accumulating more than $45.6 million in 24-hour trading volume. That latter figure represents the most volume since July 29, according to CoinMarketCap.
The price of NEM began to spike at approximately 8:15 UTC, roughly 45 minutes before Coincheck posted a public announcement regarding the re-enabled trading at 9:01 UTC.
NEM was last seen at an average price across exchanges of $0.107, up more than 16 percent on the day.
Further, NEM's market capitalization reached $1.02 billion earlier today – its highest value since September 5th.
Other major cryptocurrencies are printing modest gains with seven of the ten largest by market capitalization reporting positive 24-hour price developments. Names like Monero (XMR) and XRP (XRP) are currently up over 3 percent while the world's largest cryptocurrency, bitcoin (BTC), is up just 0.41 percent on a 24-hour basis.
The total capitalization of the cryptocurrency market now stands at $213.4 billion.
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
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