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.
- 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.
- 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.
- 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.
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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…