An Update on NEO Coin

NEO Coin Update & Price

What is NEO Coin?

Possibly one of the best performing cryptocurrencies we’ve seen so far, NEO was born mid 2016. They launched under the name AntShares, offering two Initial Coin Offering’s (ICO’s). The average price was around the $0.3-$0.5 mark, depending upon which stage investors bought in.

Being China’s first public blockchain project most certainly played to their advantage in the early stages, gathering a great amount of excitement oin the community.

NEO was created as a platform for businesses and organisations to develop their own decentralised applications and cryptocurrency tokens.

After a successful rebrand in 2017 to NEO, interest online grew even further and the price saw an incredible 4346% increase in just 2 months from June to August 2017.

NEO All Time High Price

The current all time high was in August, when the price hit a peak of £36.14 ($47.59). The price of NEO Coin at the time of writing is around £21 ($28) after fluctuating fairly volatility for the past 2 months since it’s peak.

A lot has happened since the peak, most notably the Chinese government banned ICO projects in the country! Given the fact many of the projects NEO would be helping would have been launching with an ICO in order to gain the necessary fund for development, the price took a serious knock following the announcement.

It doesn’t seem to have had much of a long term impact however, as the price is still holding it’s own.

What is NEO’s market cap?

Being one of the youngest cryptocurrencies built from scratch, the makret cap is currently sitting at almost $1.5 Billion USD. This puts it in 9th place overall currently according to CoinMarketCap.com

That’s very impressive and possibly one of the most successful cryptocurrencies of all time for its age.

Bitcoin’s market capitalisation is currently around the $100 Billion USD mark making it overall number one, with Ethereum following in second place at around $28 Billion USD.

Updates on NEO

Since the Chinese government banned both ICO’s and Bitcoin exchanges in September, there has been very little news or updates announcements from the NEO team.

Back in August, the NEO founder Da Hongfei did an Ask Me Anything (AMA) on the popular social media site Reddit.

One of the questions addressed online rumours about a potential partnership between NEO and high profile companies such as Alibaba and Microsoft.

Da Hongfei responded saying “There is no direct cooperation between Alibaba and NEO/Onchain, other than their mailbox service is using Law Chain to provide attested email service. In terms of Microsoft, yes we have cooperation with Microsoft China because NEO is built with C# and .NET Core, and NeoContract is the first in the world to support writing smart contract with C#.”

Read the full AMA here for some interesting insights.

It seems the NEO team are focusing heavily on social events and meet ups in order to attract interest from companies outside of China looking to utilise the NEO platform for D’Apps and Smart Contracts. According to the September report on the NEO site, they note that the bulk of interest is coming from those wanting to create their own NEP-5 token.

An NEP-5 token gives organisations the ability to create their own cryptocurrency which uses the NEO blockchain in order to work. With no legislation in place yet anywhere in the world, it seems those businesses planning on running an ICO or Token Sale want to do it quickly before it becomes harder for them to do so.

The report goes on to list some of the things the team achieved during the month of September.  View the full report here, and check the NEO blog on 1st November where the October report should be posted.

You can now buy NEO Coin with cash!

Formerly buying NEO has only been available via either BTC or ETH, but now you can buy direct for fiat currency! The website cryptomate https://cryptomate.co.uk/#coins allows you to buy NEO and a bunch of other cryptocurrency direct from your bank account.

Follow us on Twitter – Click Here

Join The Bit Forum – Click Here

Discover New ICO’s – Click Here

By | 2017-10-26T19:58:22+00:00 October 26th, 2017|News|0 Comments

Leave A Comment