We will also discuss the current rate of the coin and its historical performance.
It’s best to draw your own conclusions about NEO’s potential. You don’t have to believe all the predictions that come across your eyes. It looks like NEO token will grow steadily in the near future.
In this article, you will find everything you need to answer the question: “Is it worth investing in NEO?
It used to be called Ant shares, but later changed its name. NEO is also referred to as China’s Ethereum due to research to create a smart economy.
The NEO coin is also viewed as a share in the blockchain, and the GAS cryptocurrency is used to make transactions, pay employees, and maintain a project.
You can earn GAS simply by keeping NEO in official wallets. This is due to the principle of proof of ownership (proof-of-stake). You simply put your NEO Coins in your wallet and you get the number of GAS Coins spent on the network proportional to the number of NEO Coins you own. In this way, you can receive personal passive income. It should be added that it is not possible to mine NEO coins. All coins were distributed during the ICO.
NEO in 2020 and 2021: Key Facts
As is always the case with cryptocurrency projects, NEO’s price fluctuates constantly. The facts below will help you decide on your NEO forecast.
At the beginning of 2020, the NEO rate was below $ 10, and on March 13, it reached $ 4, which was the lowest indicator of the year (on the Biaffine exchange). Nevertheless, by September 18, the NEO rate managed to rise to $ 25.90. Thus, in most cases, the NEO / USD pair simply followed the up and down trends of Bitcoin. For example, the coronavirus had its greatest impact on financial markets in March 2020, leading to a downturn in the cryptocurrency world and a depreciation of Bitcoin and NEO.
In 2021, the NEO rate was very volatile. The coin started the year at $ 14.25. In mid-April, the cryptocurrency showed a rapid growth thanks to the movement of the Bitcoin exchange rate. The update has removed a potential deadlock for nodes that have additional checking enabled. In addition, the wallet files are properly cleaned up after keys are removed. Crypto regulation in China also affects the price of NEO. ” The country’s authorities were about to introduce new rules as stable coins began to be used to pay for goods and services.
On this day, the coin reached a new high since the beginning of the year, equal to $ 140.77. By July 20, 2021, NEO fell to $ 25.03 (data from the Biaffine exchange). This was followed by a sharp crash as the Bitcoin exchange rate declined sharply in the second half of May.
The price rallied gradually from $ 25.03 (July 20) to its recent high of $ 62.97 (August 24).
In early September, the price began to rise and crossed the $ 60 mark.
NEO’s most recent all-time high of $ 196.85 was on January 15, 2018, which is much higher than 2020. Today’s NEO / USD rate is: $ 27.72
The NEO cryptocurrency continues to set new records, thereby attracting many traders who want to make good money in the future.
NEO 3.0 release and how it might affect the price of NEO
The NEO team has been working on the project for three years. Since the end of 2020, the world of cryptocurrencies has been waiting for the release of NEO 3.0. The launch was postponed several times. As a result, in March 2021, Neo began implementing the N3 version of its public blockchain infrastructure.
Preview of NEO 3.0. NEO is trying to get developers to build blockchain-based decentralized applications. The improved consensus protocol can be used all over the world. A system upgrade occurs when the Ethereum network (NEO’s main competitor) experiences bandwidth issues. Moreover, China, known for its strict regulation of cryptocurrencies, has declared blockchain as a strategically leading technology.
Main features of version N3:
The update will increase the speed of transactions from 1000 to 5000 per second and reduce the “GAS commission” by 100 times. Low fees are a key advantage of NEO over Ethereum.
The new version will feature a decentralized file storage solution and a new management mechanism. According to it, NEO owners will be able to vote on the NEO Council, which includes 21 members. The council will oversee the commission, network modernization and other issues related to functionality.
N3 could be a good place to create non-fungible tokens.
The Poly Network, a consortium communication protocol, is used to facilitate the transfer of NEO tokens to the new network. Poly Network will show if the network is working well to create a blockchain from scratch and transfer all data from the existing chain without errors.
Some of the main elements of the NEO 3.0 network that should attract developers: multilingual support, native oracles protecting access to any off-chain data, enhanced interoperability, decentralized storage and independent identity, a dual token model, and a best-in-class toolbox.
In mid-April 2021, after the start of NEO 3.0 implementation, the NEO / USD pair was able to reach the $ 130 mark. This is a significant increase from the $ 0.0320 mark during the ICO in August 2017. The final release took place on August 2, 2021.