Neo, China’s first public blockchain project is gaining a lot of momentum in the cryptocurrency world.
Although it only launched the ICO in June 2016, it is already the 10th biggest cryptocurrency with a market cap of almost £1 Billion. ($1.26 Billion)!
In the past 7 days alone (August 3rd – August 10th) the price has increased by 200%, from £7 ($9) to a current all time high of £21 ($27)!
So why is NEO doing so well?
Well there are many reasons NEO is excelling, and quickly rising in popularity.
Data from Google trends shows a huge spike in searches for ‘NEO Coin’ over the past few weeks, meaning interest in growing! Many of the people hearing about NEO and searching for it on Google will be investing, which will have contributed to the price increase. Many of them will not have invested yet and may invest in the future, meaning the price looks likely to continue on an upward trend!
NEO has just completed an entire re-brand from it’s formerly known Antshares 1.0 (ANS), to the NEO smart contract system 2.0
Similar in usability to Ethereum, NEO claims their smart contracts perform better overall. When creating a smart contract using Ethereum, developers must learn a less popular coding language, whereas setting up a smart contract on the NEO platform is possible with more broadly known coding languages, meaning a larger portion of the developer community can use it.
It seems NEO are making their technology more user friendly by knocking down barriers which have stood in the way of many blockchain prjects before it. Such high tech systems require users to learn new skills and knowledge, meaning mass adoption would take more time. NE-O on the other hand is opening it’s doors to a much wider community,
With the price at an all time high, that would usually be a sign to sell and take some profits, but at the moment with such a positive response online, it seems the only way is up! The price could fall as we have seen with many cryptocurrencies after a huge spike like this!
NE-O are holding a conference today (August 10th), which when finished could cause the price to go either way. Some investors will for sure sell today and take some profits, but it could also cause an influx of new investors!
With so much interest and the price rising so quickly, I think 2017 could quite possible see NE-O hit triple figurs!
Will you be buying NE-O? Do you already have NEO? Are you holding or selling? Will NE-O hit triple figures in 2017? Let us know in the comments!
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