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NEO (NEO) Won’t Remain this Cheap for Much Longer
NEO is one of the cryptocurrencies with the largest potential to become a representative of the third generation of cryptos. As such, it would be expected that its price would be high enough to top all other coins, and to maybe rival even Bitcoin and Ethereum. This is currently not the case. However, this situation might change soon enough.
About NEO
As you probably already know, NEO is one of the most popular cryptos of the third generation. Its community is huge, and a lot of people have chosen NEO before any other coin, and for good reason.
NEO is a crypto that was created as an improved version of Ethereum (ETH). It has recognized many of Ethereum’s problems, and it has been working hard to fix them and to set a new standard on what crypto is supposed to be like.
It has a large community, and is one of the digital coins with the strongest foothold in the far east, considering that it is the favorite digital coin in China. This is extremely important for NEO since China is usually not very supportive of cryptocurrencies.
Considering that they seem to like NEO and that it shares a lot of similarities to Ethereum, NEO has become known as Chinese Ethereum. The coin has entered a lot of partnerships so far and has had more than decent success in its four years of existence.
And yet, despite a stable situation like that, NEO is still pretty underpriced, with its value being at $37.88 per coin. Many have been wondering why that is, and how is it possible that NEO cannot rise back to the top as it did in December 2017. Back then, this coin managed to hit $160 per token, and NEO enthusiasts are patiently waiting for the old price to come back. Well, as it turns out, they might not have to wait for long.
Why this is the best time to buy NEO
NEO’s price has mostly been going down ever since this year began, with only one large spike that occurred in mid-May. However, there are some indications that this coin can do a lot better.
The low price is something that a lot of great cryptocurrencies share these days, and there might be a reason for it. According to some experts, this reason is closely connected to the psychology behind the purchase of cryptos.
To explain this, we will have to briefly check the history of Bitcoin (BTC) and Ethereum (ETH), the two largest cryptos to date. Both of them were very cheap at the beginning of their careers. Those who discovered them back in the day, and recognized their potential, saw that the time to buy cryptos is when their value is low. That way, people have purchased multiple coins for a single dollar. And, when the prices skyrocketed into hundreds or even thousands of dollars per coin, those people became millionaires overnight.
Now, BTC and ETH are well-established coins, with their potential being known to everyone. However, coins like NEO, EOS, Ripple, and alike are still fighting to prove that they can be just as successful. By having a low price, they are allowing their users to join in, and not miss out on another opportunity to make a large profit through a small initial investment.
After all, buying a lot of BTC or ETH these days is not exactly an option for most individual investors. Even if their prices did go up, there would not be much profit when it comes to small amounts of these coins. However, investing in an underpriced coin, even in NEO which is relatively expensive when compared to many other coins within the top 20, can still make a large return.
The fact is that it is only a matter of time before the crypto market picks up the pace once more. When that happens, the prices are expected to skyrocket again. The time will tell which crypto will walk in Bitcoin’s and Ethereum’s footsteps, and become the main coin of the third wave. However, a lot of people believe that NEO is the right way to go.
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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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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. One of the ways to have a successful…
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…
Altcoins
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…
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