NEM [XEM] and NEO [NEO] attain a 11.21% and 8.09% hike in 24 hours

On 4th September, NEM and NEO were the biggest gainers of the week as well as in the last 24-hours. The past day has seen the price of NEO climb up by 8.09%. The cryptocurrency is currently trading at $24.4 with a market cap of $1.56 billion. Simultaneously, NEM has achieved a hike of 11.21% and is trading at  $0.12 with a market cap of $1.12 billion.

About a month ago, NEO announced its partnership with a security auditor called CertiK, to take a step forward in making its platform more secure and enable the authentication of smart contracts on its blockchain. CertiK was created by Yale and Columbia University for the purpose of verifying smart contracts.

In a more recent event, NEO underwent a DoS attack wherein it solved the issue within an hour by releasing a bug fix. A DoS attack may be described as a situation caused deliberately by a party to jam an online platform with heavy traffic from multiple sources through a bug. This causes access failure to the platform for its user-base.

NEO stands at the 14th position on the cryptocurrency ranking chart and has witnessed a rise of 16.3% in its trading price in the past 7 days. At the beginning of the week on 28th August, NEO was trading at $21.28 with a market cap of $1.38 billion. Post this, the price kept fluctuating across the week, rising and dropping and finally hitting the peak at $24.4 on 4th September.

NEO 7-day price chart | Source: CoinMarketCap

On 31st August, NEO was trading at its lowest, which was $18.58 with a market cap of $1.2 billion, recording the deepest gap of more than $350 million.

About a week ago, the trading price of NEM crashed by more than 90% along with other altcoins such as Tron and Cardano . Currently, the price is up again by 13.41% on a weekly time scale. On 28th August, the price opened at a trading price of $0.1109 with a market cap of almost $999 million. The lowest of the week for NEM is observed at $0.1008 coupled with a market cap of $907.7 million.

XEM 7-day price chart | Source: CoinMarketCap

However, NEM managed to hit the peak of the week on 4th September. Here, the largest difference seen across the week in the market cap of NEM is over $200 million.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

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