Neo is one of the High Flying Crypto Assets
Neo is one of the High Flying Crypto Assets
It has been easy to overlook some of the cryptocurrency projects that have dropped from their highs and have been unceremoniously dumped down the market capitalization charts this year. Neo is one of these once high flying crypto assets, it is now down in 18th place but appears to have just woken up."Neo is one of the High Flying Crypto Assets"
Just like all other cryptocurrency, Neo has been battered this year. From an all-time high of around $190 it has virtually crumbled to nothing, dumping over 95% this year. At the beginning of 2018, there were huge hopes for Neo coin and even talk of it surpassing Ethereum ETH as an alternative dApp platform.
The bears came out in force and a huge selloff resulted in losses even greater than Ethereum ETH, which has also suffered more than most this year. Rather than focus on prices Neo project developers have been building and strengthening the network, just as they have at Ethereum. Neo founder, Da Hongfei, has coined his own words to reflect this; �contiNEO� meaning �we keep going�.
He share on Forbes recently about the latest developments for Neo and experiences with the 2018 DevCon in San Francisco;
�The first DevCon was quite successful, it happened in San Francisco and about 600 to 700 project developers attended, and it proved that NEO is already a very globalized community. Many developers attended and came from all over North America and Europe countries. This was initially just a project and token developed by Chinese developers, so we were really pleased to see people get involved from all over the world.�
The next DevCon will be held in Seattle in February 2019. He continued stating that there is a great focus on the technology development and the project itself rather than the market; �I think the market always reflects people�s emotions and sentiments, so I do not think it is a good index for the future health of the crypto world.�
There are some of the developments for Neo which could be driving current momentum. The Neoland ecosystem program built around the cryptocurrency will be launching soon in 2019, this seems to be a popular way of generating interest and increasing token adoption;
Neo coin is an ongoing project with Neo token with a growing team and will no doubt survive the crypto winter. Today Neo has surged over 20% to reach an intraday high of $8.77 before pulling back slightly down. Binance exchange has most of the trade volume which is currently around $200 million. Neo was previously a top ten altcoin by market capitalization but has fallen down to 18th position with $550 million. A recovery for Neo price is a given, the timescale and next peak remains the unknown.
