Checking in on NEO
NEO, a platform for smart contracts, is one of my favorite crypto plays. It’s sometimes referred to as China’s Ethereum.
I first wrote about it a few months back when it was still Antshares and traded at $5.75. Back then I said it was a steal… and it was.
Then I wrote about it at the end of July after it broke out again. By then it was trading at $15.06. I thought it could be a top 5 crypto and still had a lot of upside.
The last I wrote about it was in August at $45.30. I still thought it was a buy then, but hopefully you didn’t put all your ammunition to work. It got below $14 at one point this month thanks to the China news. Still, that’s pretty normal for cryptocurrencies.
Now that NEO is back around $30 it’s back in the top 10 again with a $1.5 billion market cap.
I still think it can be a top 5 coin. So if you do the math, that means it could at least double from here.
Keep in mind founder Da Hongfei was interviewed recently and said he expects the Chinese government to turn to NEO to help build blockchain technology infrastructure in the country.
Plus, NEO has always been built to be compliant with regulations in all countries. You can read about in their blogpost. NEO was also fully compliant in China and any funds from the ICO have always been refundable. Since the ICO NEO has refunded just over 50 BTC.
Long story short I still like NEO for the long-term.
There’s lots on the roadmap that can provide a catalyst for further price appreciation.
I particularly like NEO will be hosting its first DevCon in the fourth quarter.
For more on cryptos follow me @g-dubs and on SteemFollower
@g-dubs the other day I heard about NEO not having a feasible wallet, or not in the ERC20 tokens, so I sold what I had, and lost the opportunity one day before, once it started to go up from $20 to $30. Thanks for sharing. Just upvoted! @gold84
There's working wallets. Check out whatever City of Zion is doing. You can find the wallets right from the NEO website.
As for NEO not supporting ERC20 tokens, not important to me. You can just store ERC20 tokens on MEW. Some day in the future all these platforms will find a way to be interoperable anyways.
Thanks for reading!
@g-dubs thanks to you. I just upvoted on originalworks too! @gold84
ive expected next anon coin review ie EXCL today :)
Lol, no worries it's on the list. Might have to check out HUSH too.
It rocketing up again I think FUD in China is a
... buying opportunity? Agreed!
NEO Target per my analysis is $44:
Nice flag forming there. Thanks for the TA!
neo is great however now i put all my money in steem
its even back to its normal price 1.35
Both are great projects!
seems that you like neo cause you wrote about it many times
lol, guilty as charged ;-p
Am a huge supporter of NEO, will continue to monitor its progress and hopefully get more on the dip with all these crazy baseless news from ignorant sources funded by the greedy market movers.
Cool, if you hear any good news make sure to share :-)
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