NEM wants to offer its customers more accessible stakeout possibilities after the cooperation with MyContainer
XEM/USD rose about 35% in November as it tries to stay above $0.13 on a weekly basis
On the positive side, the first target is the September high at $0.1740, followed by $0.20
The Nem (XEM) price rose by approximately 35% in November as buyers continued to make up for the losses of September and October.
Fundamental analysis: NEM works with MyContainer to offer deployment options
NEM said it has teamed up with MyContainer, a provider of staking out services, a new strategic partnership that will enable NEM to offer more accessible staking out options to its customers. With this new partnership, NEM will look for new opportunities that will help improve the platform.
“As part of NEM’s ongoing partnership strategy to both strengthen our existing NIS1 platform and provide the NEM community with the ability to stake out their XEM, we are pleased to announce a new strategic partnership with MyCointainer,” NEM said in a statement.
For crypto proponents, participation is now a standard choice, as many digital currency projects offer their users the opportunity to make additional money from their assets.
MyContainer is one of the staking services that will provide NEM users with a staking option for the XEM token. This will allow XEM owners to store their assets in MyContainer’s wallet and receive rewards for stakes.
Staking XEM in the MyContainer wallet is similar to staking other coins in other wallets, as users gain complete control over their assets and can keep track of them and the rewards received.
“The online and automated stakeout and master node platform provides access to stakeout pools, making the potential rewards more stable, and the longer the XEM is staked, the greater the potential rewards,” NEM added.
The newly announced collaboration between NEM and MyContainer could also help NEM to attract new users. Financial customers seeking similar services to the traditional ones will now be able to benefit from one of them. Staking has become a standard option among owners, and NEM users will now be able to use it as well.
Technical analysis: Rally remains intact
XEM/USD rose about 35% in November as buyers seek to close the week above the important short-term resistance line at $0.13. As long as the price action is trading above this level, XEM bulls are confident that they can create a more meaningful rally.
XEM/USD Daily Chart (Trade View)
On the upper side, the first target is the September high at $0.1740, followed by a long term resistance line at $0.20. On the lower side, a failure at $0.13 opens the door for a retreat to $0.10.
NEM has announced its partnership with the stakeout service provider MyContainer, which will offer NEM users new stakeout options. On the other hand the buyers presented themselves in November in a strong form, so that the basis for a possible journey on 0,1740 dollar was put in the coming weeks.