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

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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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