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A Mixed Week for NEO

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At a time when Cryptocurrency adoption is increasing at a surprising rate, the China Information Industry Development Centre announced yesterday that they had released the second batch of their state-endorsed cryptocurrency ratings, with the likes of EOS, Steem, Lisk and more importantly NEO getting featured. As the ranking system takes into account various factors based on technology, application, and innovation, getting featured in such an index is a great step forward for NEO, as far as adoption is concerned.

However, this is not the only piece of news that involves NEO in the past week. It was also revealed that Kucoin, one of the major exchanges in Asia, had removed eight NEO pairs along with other KCS and USDT trading pairs.  Among the currencies that had their NEO pairs removed, mention can be made of Ontology (ONT), Litecoin (LTC), Zeepin (ZPT), Aphelion (APH), Oyster Pearl (PRL), DeepBrain Chain (DBC), Red Pulse (RPX), and QLC Chain (QLC). It remains to be seen how NEO’s price reacts to the current market sentiments after these latest developments materialize.

  1. NEO Gets Featured on Public Chain Evaluation: As mentioned earlier, the CCID institute of Blockchain research, which falls under the jurisdiction of China’s Ministry of Industry and Information Technology, had recently featured NEO after their second round of evaluations were conducted. The list titled “The Global Public Blockchain Technology Assessment Index” ranks cryptocurrencies on the basis of three main factors, which include technology, applications, and innovation. The list aims at creating a comprehensive and independent assessment rating for all cryptocurrencies/blockchain projects for the Chinese public. Neo has been considered before when the CCID report for May placed it at rank 4 among the 28 blockchain related projects, firmly placing it behind the likes of Ethereum, Steem, and Lisk. However, this time around Neo was placed 3rd among a list of 30 Cryptocurrency projects in the June report.  With only Ethereum and EOS ranked before it, NEO also scored the highest rating in the applications category. As far as cryptocurrency adoption is concerned, this addition will only further validate the legitimacy of NEO as a major Cryptocurrency especially in the Asian region.
  2. Removal of Trading pairs From KuCoin: On June 21st it was announced that Kucoin, a large cryptocurrency exchange had taken the decision to remove certain NEO pairs from several cryptocurrencies, including Ontology, Litecoin, and Red pulse. According to the notice released by Kucoin on June 22nd, “KuCoin is dedicated to creating a healthy exchange ecosystem by investigating high-quality projects and utilizing resources to better serve our users. We have been closely monitoring and analyzing all the trading pairs on KuCoin. Based on the comprehensive assessment, KuCoin will remove the following trading pairs”.
    It is believed that the decision was made after the exchange analyzed all the trading pairs and their performances, with the aim of allocating resources for delivering a better user experience.
  3. NEO Name Service Project: According to a medium post released by NewEconoLabs, a new project called the NEO Name Service Project was unveiled. The fruition of this project would allow users to create .neo top-level domain names or TLDs to replace the existing script hashes and wallet addresses. This is a welcome move for the NEO community, as the shortcomings of Neo addresses become more apparent as adoption grows.

Current Market scenario for NEO

NEO has always put a heavy emphasis on smart contracts to build what they call “a smart economy”. Since being introduced in 2014, NEO’s value has grown by leaps and bounds, as awareness around smart contract uses increases around the world. At the time of writing (25/06), NEO is valued at $31.70 USD placing it in Rank 12. Analysts have forecasted that Neo should reach around $ 355 by the end of the current calendar year.

Final Thoughts

While the awareness of crypto-assets is on the rise and the thrust on digitizing assets increases at a rapid rate, projects like NEO have immense potential in the near future. As the traction of the Neo platform increases day by day, the price of the token will also simultaneously increase. Furthermore, Neo’s strength lies in the scalability of its platform which in turn has attracted quite a number of large investors in recent times. Even institutional investors are starting to hop on board, as NEO Announces more integration, partnerships, and other technological updates.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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