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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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