NEO (NEO) Keeps Feeling The Love From Fans
Towards the end of last week, the cryptocurrency market showed some strength with the entire market cap remaining steady slightly under the $500 billion mark.
For most altcoins, the overall rise in the price of Bitcoin since the dip that saw the top cryptocurrency go as low as $7,000 was a relief as most of them gained on their previous loss.
However, NEO (NEO) seemed to have posted a remarkable rally that made it gain double digits to hit a price of over $140 up from its previous price below the $121 mark.
In the last one year alone, NEO has seen a tremendous growth of about 106,742.5 percent with its price going as high as $170 at the beginning of January 2018.
But what really makes NEO a great performer in the highly volatile crypto market? Well, perhaps these events can explain the rise and stability in the price of NEO.
It has recently been reported that EToro, has today added support for NEO to its platform. The world’s leading social investment network has a trading base of 6 million people. The exposure NEO will get from trading on this platform will only serve to drive up interest in the coin.
A Solid Agenda
Also known as the Ethereum of China, NEO is set to become the dApp ecosystem of the east region. It is China’s first ever open source Blockchain platform and has worked over the years to gain a favorable position with the notorious Chinese government known for its hard stance on Blockchain and cryptocurrencies.
As a result, the cryptocurrency has seen lots of interest drawn towards it due to the NEO Onchain development centralized model.
Another factor that might contribute to the impeccable performance posed by NEO is the fact that it’s backed by a strong community of cryptocurrency enthusiast.
With an exceptionally active team of developers, the NEO team is constantly working to build a tightly knit community of investors, media partners as well as entrepreneurs in an effort to create a solid following of the cryptocurrency.
Furthermore, NEO boasts of its popularity in South Korea, a region that controls over 30 percent of the entire cryptocurrency trading volume.
Developments on the horizon
In fact, in a recent DevCon conference organized by NEO founder and CEO Da Hongfei, unveiled plans for the NEO dApp platform to host a variety of decentralized cryptocurrency exchanges.
As a result, Decentralized Exchange also known as DEX application would benefit from NEO’s speedy transactions, thus solving the age-old problem that most cryptocurrency exchanges have been dealing with.
Wowoo set to switch to NEO from Ethereum
In addition to the possibility of NEO targeting decentralized exchanges, Wowoo (a Singapore based company bridging the gap between Blockchain technology and service operators) has officially announced plans to witch form Ethereum to NEO’s Blockchain network.
As a result, the sale of their Wowbit token has been postponed to accommodate these changes.
A statement posted on the company’s site mentioned that Wowoo is excited with being able to “migrate over to one of the most potential Blockchain in the industry, NEO ecosystem.”
At its current pace, there is no doubt that NEO (NEO) is on track to achieve its aim of being the number one Blockchain platform by 2020.
According to the company’s CEO and founder, “the first killer app of Blockchain is Decentralized Gold (Bitcoin)”; the second is ICOs, and the third is decentralized exchanges that will be “crucial for the future.”
Who knows? NEO could surpass Ethereum if Ethereum doesn’t solve issues to do with scalability in time.