NEO Springboards to Top-Ten Cryptocurrency with $2.4 Billion in Assets
user

Cryptocurrencies

NEO Springboards to Top-Ten Cryptocurrency with $2.4 Billion in Assets

Posted on .

NEO Springboards to Top-Ten Cryptocurrency with $2.4 Billion in Assets

Introduction

This article was posted on Wednesday, 08:14, UTC.

NEO has skyrocketed in recent weeks, placing it among the world’s top-performing cryptocurrencies and offering further credence to China’s leadership role in the market.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

NEO Surges to New Highs

The so-called “Ethereum of China” is up 500% over the past 14 days. At the time of writing, prices were up 13.8% to $49.33, according to CoinMarketCap. That gives NEO a total value of over $2.4 billion, enough for sixth on the global leader board. Only Bitcoin, Ethereum, Ripple, Bitcoin Cash and IOTA are worth more.

Neo’s one-month price chart is illustrated below.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Promise of a Smart Economy

The cryptocurrency formerly known as Antshares is similar to Ethereum, but has notable advantages like advanced languages and the NEO Contract, which supports multiple programming languages. In other words, NEO’s barriers to entry are much smaller for new developers while still supporting the core elements of decentralized transaction and identification.

According to analysts, the cryptocurrency’s biggest advantage lies in its application to the real world. By incorporating digital assets and smart contracts, NEO can potentially integrate into the real economy.

After rebranding from Antshares, NEO has become China’s biggest blockchain infrastructure. The world’s second-largest economy has emerged as a major player in the global cryptocurrency market. Efforts by mainland investors to diversify away from the volatile yuan have made cryptocurrency-as-an-asset an attractive bet. However, participation in this market has been subject to greater scrutiny by the People’s Bank of China (PBOC). In particular, the Chinese central bank has issued several warnings about Bitcoin. Earlier in the year, this amounted to a temporary suspension of withdrawals from the country’s three largest Bitcoin exchanges.

Platform of Choice for Chinese ICOs

The growth and widespread adoption of initial coin offerings (ICOs) is shaking up the business world. ICOs have become the funding method of choice for internet companies and are primed to expand rapidly as startups look to offer investors greater value in exchange for money. Whereas Ethereum is the go-to platform for most ICOs, NEO will likely retain its leadership pace for upcoming Chinese ICOs.

ICOs continue to be extremely attractive from the standpoint of investors. Very few assets, if any, can compete with the 1,000% return ICOs generate in under a year.

At the time of writing, the largest ICO return is for Stratis, a blockchain technology company that generated more than 110,000% return in roughly 12 months.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Sam Bourgi

Sam Bourgi

Sam Bourgi is Contributing Writer to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.

Comments
  • user

    AUTHOR FalconX

    Posted on 10:32 am August 16, 2017.

    Neo is definitely a great dev-friendly coin. I believe Neo will continue growing while currently XEM, ETC, & WAVES are starting up their ICO platforms.
    Although,
    ETH is mainly for USA
    NEO for China
    WAVES for Russia

    So I wonder where XEM & ETC will fit in the picture.

  • View Comments (1) ...
    Navigation
    The team:
    Dmitriy Lavrov
    Analyst
    Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
    Jonas Borchgrevink
    Founder
    Jonas Borchgrevink is the founder of Hacked.com and CryptoCoinsNews.com. He is a serial entrepreneur, trader and investor. He shares his own personal journey on Hacked.com. // -- Discuss and ask Read More
    Mate Csar
    Analyst
    Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive Read More
    Mati Greenspan
    Analyst
    Senior Market Analyst at Etoro.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
    Rakesh Upadhyay
    Analyst
    Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
    Pamela Meropiali
    Account Manager
    Pamela Meropiali is responsible for users on Hacked.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
    Joseph Young
    Journalist
    Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
    Bitcoin has more than doubled over the past month, as…