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Here’s How NEO will Reach $1000 and Establish Market Dominance

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NEO

For a while now, investors have been searching for the crypto that will become the main representative of the third generation of cryptocurrencies. After Bitcoin (BTC) has become the leader of the first wave, and Ethereum (ETH) become the main coin of the second one, the third wave is upon us, and many believe that NEO will be the one coin that will stand out.

Earlier this year, after the market had just turned bearish, crypto enthusiasts thought that this will be a short-term thing and that NEO will soon lead cryptos to new heights. Of course, it has been six months since the prices dropped, and the situation is much worse now than it was back then. Still, the hope remains, and many still believe in NEO.

What is it that makes NEO so special?

NEO is a cryptocurrency that has been around for several years now. When it comes to its concept, it is actually very similar to Ethereum. Both offer the creation of smart contracts, dApps, and have had many different projects created on their respective blockchains.

In fact, they are similar enough that NEO has often been called the “Ethereum of China”. This name comes from two reasons – its similarity to Ethereum, and the fact that China is actually very supportive of NEO. This support gives NEO a lot of advantages when it comes to cryptos in general since China is usually very closed off to the entire concept of cryptocurrencies. However, with this country’s support, NEO basically has access to the entire untapped market, which may allow it to shine like no other altcoin.

At the beginning of the year, NEO has reached completely new heights, just like every other crypto. It also reached a high rank on the CoinMarketCap’s list. However, just like all the other cryptos, its value nosedived as the year progressed, and its current rank is 12, with a value of only $37.93 per coin. When compared with the January’s price of around $160 per coin, we can see just how low NEO has fallen.

With that in mind, can NEO still reach the heights that were expected of it at the beginning of the year?

City of Zion and a decentralized exchange

Some experts seem to believe that NEO is still more than capable of going back up. In fact, many believe that it might even go to such heights that it could reach $1000 per coin by the end of this year. The way to achieve this might lead through the City of Zion.

The City of Zion is basically a name for NEO’s extremely large community of open-source designers and developers, which are all working towards the same goal. Their aim is to speed up the development of NEO’s blockchain and to create additional accessories which will help improve the entire concept of this cryptocurrency.

The City of Zion has already been credited with developing several large and important projects, including NEO portal, the NEON wallet, NEEOScan, and NEOMon. These are all very important projects that have the potential to pull NEO out of these depths as soon as the market allows it.

Another very important concept that NEO’s blockchain seems to be nothing less than perfect for includes hosting decentralized exchanges. Decentralized exchanges represent a relatively new concept, but in order to establish them, certain parameters need to be met. Those include finality, quick transactions, digital identity, interoperability, and a stable digital currency that would be used for creating universal trading pairs.

NEO can match all of these demands, which is what makes it nothing less than perfect for this project. There are certainly still some minor issues that need to be resolved before this becomes a reality, but if anyone can pull it off, it is definitely NEO.

So, can NEO dominate the market? Can it reach $1000? Right now, it is hard to say. This is a tough time for cryptocurrencies, and many are still struggling to simply stay alive. Hopefully, the situation will get better soon, and if it does, a lot of great things are expected from NEO.

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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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