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The Chinese Cryptocurrency NEO Price Lifted by Strong Surge

Reasons as to why NEO is surging right now

  • NEO is emerging as the winner with its value raising above $12 as a counter to other Cryptocurrencies.
  • NEO has grown over 9% to 12.14$ as of 14:15 UTC on Tuesday.
  • Chinese President Xi Jinping has shown back interest in crypto and blockchain after a series of Chinese Traders Disbanding cryptocurrencies.

Neo is an open-sourced blockchain platform and its main aim is to utilize blockchain technology and smart contracts to issue and manage digitalized assets. The founders Da HongFei and Erik Zhang term its vision are “to realize smart economy”.

Neo is considered to being regulator-friendly and it can emerge as the top cryptocurrency. Recent bans from China on the cryptocurrencies had disrupted the cryptocurrency market with most of the cryptocurrencies seeing the downfall.

Whereas NEO is emerging as the winner with its value raising above $12 as a counter to other cryptocurrencies. Following the news of China’s plans for more lenient laws on cryptocurrencies and its assets, NEO has grown over 9% to 12.14$ as of 14:15 UTC on Tuesday.

Even though there are chances that the market may vary along the way, NEO is can overcome those hiccups. Here are a few reasons why NEO can expect a rise in the market.

  • The restored interest of China in cryptocurrencies:  

Chinese President Xi Jinping has shown back interest in crypto and blockchain after a series of Chinese traders disbanding cryptocurrencies. With the Chinese crypto NEO showing the signs of development, the Chinese government has promised to develop and invest in homegrown projects which can assure the rise of NEO.

  • Increasing Bullish chart hype:

NEO price chart has led to the spike which is bringing more investors to the market. With bitcoin stagnant in the charts, other cryptocurrencies are showing the potential of generating lucrative results, especially NEO.

With NEO crossing the classic bullish pattern against BTC and ETH and also showing promises of growth, it’s believed to shoot up based on the heightened trading activity and heightened trading presence.

  • NEO 3.0 and it’s potential:

With a new project with long-term potential called making the required sounds, it is expected to bring out enhanced byzantine fault tolerant (dBFT) mechanism. NEO 3.0 flagship has been in development for 10 years and is expected to be out by 2020. NEO is already showing potential and is also gaining against bitcoin. It is establishing its valuation at the highest level. There’s every chance of NEO standing up against top 2 performing crypto.



This post first appeared on Coin Market, please read the originial post: here

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