Japanese CEX Coincheck posts 75% revenue growth during fiscal Q3

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Feb 13 2025

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Coincheck's Revenue Growth: Japanese crypto exchange Coincheck reported a 75% increase in revenue for its fiscal third quarter, reaching $782 million, largely attributed to a successful merger with Thunder Bridge Capital and its subsequent Nasdaq listing.
Net Loss Despite Growth: Despite the significant revenue growth and an increase in customer assets, Coincheck posted a net loss of $98.1 million due to high sales expenses and administrative costs.

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Technical Analysis for XEM

Technical Sentiment Analysis for NEM (XEM). As of , NEM (XEM) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XEM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XEM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

NEM (XEM) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.000406	0.000448	0.000496	0.000538	0.000586	0.000628	0.000676
Fibonacci	0.000448	0.000483	0.000504	0.000538	0.000573	0.000594	0.000628

About XEM

NEM is a blockchain platform that was launched in March of 2015. It was one of the pioneers of the cryptocurrency industry, and sought to improve on the imperfections found on other chains at the time. It was one of the first non-turing complete chains to feature user-defined tokens (called mosaics), namespaces, multisignature accounts, and a P2P reputation system based on EigenTrust++. Its most notable contribution to the space is the proof-of-importance consensus mechanism, which sought to reward on-chain activity and deter the concentration of wealth commonly associated with proof-of-stake. Its client, NIS, is written in Java.NEM has a global community. It sees the most utility as an alternative form of payment for businesses and vendors, and has a variety of social media apps built on top of it in Japan, such as nemgraph, a community-driven owned and operated alternative to Instagram.In December 2021, NEM was hard forked by a pseudonymous team of cryptocurrency experts and enthusiasts alike. Titled Harlock, this hard fork signaled the community’s intent to take NEM from a shadow of its former self into the world’s leading payments platform for on-chain and off-chain media content.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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