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How Stable Is NEO at the Moment?

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The crypto market has been critical so far, as most of the gains recorded by the currencies have been reversed in the past few months. With Bitcoin’s price dropping by a huge margin, the market has become incredibly volatile. Tracking the price movements, this year has been a profitable year for altcoins, and NEO certainly features among the top gainers in the market.

With the entire crypto market recovering from a price slump, there hasn’t been any positive momentum in the market so far, and any occasional uptrend is dragged down right away. Despite all the price volatility, NEO’s price has recorded some positive moment.  The rising altcoin, which ranks 11 by market capitalization, is moving towards the $60.00 price level, but it’s hard to determine whether it is safe to invest in NEO at the moment. If you are wondering whether the coin has gained stability in the market, here’s a brief insight into the latest developments on the blockchain.

NEO, A Step Towards Smart Economy

With cryptocurrencies being integrated into several notable projects, the blockchain technology has become a talking point in the market. As the platform of the new internet, NEO specializes in all the significant aspects of the blockchain technology – Dapps, ICOs, and smart contracts. The crypto project which utilizes digital identity to digitize financial assets serves as a medium for automating the management of these assets with the help of smart contracts, fostering a “smart economy” based on the distributed financial network.

As the building block of a smart economy, NEO offers digitized financial assets, with each asset containing proof of ownership in the blockchain. Quite naturally, the digital assets can be sold, traded, and leveraged through smart contracts, while the ownership of the assets can be secured and regulated through the decentralized protocol. In the highly volatile world of digital currency, anonymity is at the forefront of any major technological advancement.

To comply with the regulatory standards, NEO aims to provide digital identities based on PKI or Public Key Infrastructure. NEO, which has partnered with THEKEY, will provide users with secure digital identification.

Upgrades on the NEO Network

Looking at the events in the past few months, NEO has witnessed some interesting developments on the blockchain. To begin with, NEO based Switcheo Exchange announced completing integration with ledger hardware wallet devices.  Although the integration has already taken place, the development team is holding off the operation s of Switcheo’s new smart contract due to certain technical improvement on the NEO blockchain. As per the statement issued by NEO, users can now trade with Switcheo and Ledger smoothly following the instructions released by the team.

Speaking of further developments, the blockchain has also released the development report for May 2018 on Medium, besides publishing an interview with Robbie Wang, the overseas community operations manager at NewEconolabs recording the upcoming NEO Name Service domain project. The most talked-about event, however, is Alchemist’s announcement of issuing a Stablecoin on the NEO Blockchain. Considering the competition of the stablecoin market, such a move has raised many eyebrows.  Apart from Tether, the most vied-after stablecoin in the market, there’s TrueUSD, which recently gained momentum. With Tether’s USDT and TrueUSD lighting things up in the stablecoin world, Alchemist’ s decision of introducing a stablecoin on the NEO market is definitely something to watch out for.

NEO and the Market

As evident from the price charts of the last few months, the market is recovering from a major bear run. Given the price volatility in the market, a positive momentum is unlikely to befall soon. As for NEO’s price, a sudden dip to $57 made investors nervous last week. Much to the traders’ relief, the concern was short-lived. The coin has recently reached $57 price level, recording a 1.47% move over the last 24 hours. Although the coin is trading in the red, it has seen a positive change of $9.68 over the last 7 days. With a market capitalization of $3,534,056,500, NEO is available to the traders at $54.37 at the time of writing. As the crypto market expands to include a host of new currencies, investors are at a loss when it comes to choosing a suitable investment option. NEO, which has evolved over the last few months to become a pioneer in the field of cryptocurrency, has come a long way from its ICO days. At any rate, going by the prospects of the blockchain project, NEO can be the ultimate game-changer in 2018.

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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

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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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