NEO Price Surpasses US$25 as Bitcoin and Ethereum Post Small Gains

Another day of trading is in the history books and things continue to look rather positive for Bitcoin and other cryptocurrencies. More specifically, Bitcoin continues recording small gains every day, as does Ethereum. Other currencies such as Bitcoin Cash are still taking a beating, however. All things considered, cryptocurrency continues to gain momentum as we speak. If this trend keeps up, a total market cap of US$150b could be reached before the end of the month, especially if NEO continues its bullish trend.

NEO Price is Gaining Quickly

It is always interesting to see the Bitcoin price move up even though the increments are fairly small for the time being. With a daily gain of 2.5%, Bitcoin hasn’t moved all that much. However, it seems yesterday’s downturn has been taken care of successfully, mainly thanks to a growing 24-hour trading volume. Speaking of which, Bitcoin had just over US$1.3b in trading volume, which is quite significant. That doesn’t make it the most-traded cryptocurrency of the moment, though.

Instead, that crown belongs to none other than Ethereum. We have already seen the popular altcoin surpass Bitcoin’s trading volume on multiple occasions in the past. It doesn’t mean all that much, though, considering that the Ethereum price gained just 2.79% in the process. Increases in trading volume lead to higher prices in nearly every case, but there’s no reason to get overly excited about ETH right now either. The Ethereum price has been trying to stabilize around the US$300 mark, but that is much easier said than done right now.

Other top cryptocurrencies showing positive signs of life include NEM, Dash, and NEO. The latter currency is particularly remarkable, as it is the third time NEO has noted a 30% gain within a 24-hour period. The currency is now valued at US$25 per coin, which is pretty solid. Less than a year ago, that currency was worth under 20 cents, mind you. A 125-fold value increase for the crypto formerly known as Antshares is quite spectacular, to say the least. Very few currencies can claim similar gains over the past 24 hours; that much is evident.

Speaking of NEO, it is worth mentioning that the majority of its trading volume originates from the Bittrex exchange. It is one of those valuable altcoins which aren’t even listed on Poloniex right now. Instead, it has seen heavy trading volume in Chinese Yuan markets on Yunbi and Jubi. It will be interesting to see how things evolve as far as NEO is concerned. Do keep in mind that there are a total of 100 million coins available, but only half of those are in circulation right now. There is still plenty of room for speculation regarding the “Ethereum of China“, to say the least.

Going back to the Bitcoin price, it is evident that reaching and surpassing the US$3,500 mark will be a bigger challenge than originally anticipated. Many experts had expected that value to have been reached days ago, yet it has still not happened. No one is in a rush to see Bitcoin hitting US$3,500, though, as the year 2017 has been one major uptrend for Bitcoin so far. Moreover, setting another all-time high too soon could lead to more negative pressure on the markets as well. A lot of people want access to cheap bitcoins; that much is evident.

It isn’t entirely surprising to see the NEO/BTC market on Bittrex generating most of Bitcoin’s trading volume right now. The Bitcoin price has certainly been benefiting from altcoin trading volume lately.  Fiat currency markets are a bit behind the curve right now, with Bitfinex’s USD pair leading the charge. Other fiat currencies in the top 10 include KRW, CNY, and USD. There is no sign of the Euro trading pair in the top 10, which is a bit disappointing. Then again, the Euro market has never been too big on Bitcoin through traditional exchanges for some reason.

  • Kev Tootill

    I just bought 5 NEO to get started, fingers crossed 🙂

    • Your crypto portfolio will increase in value 😉

    • Younes PhD Henni

      I also bought 7,5. We won’t become millionaires but it is a good start.

    • Droidboy

      I bought 38 NEO yesterday and have made 40%. I was suggested it and thought, why not.

      Glad I did. This is neat.

  • alexs

    I think NEO is a scam and one should better stay away from IT. They declare things which are impossible to implement. There is no way to program smart contracts in C# and Java. And those who claim this are scammers.

    • The moment I see the word “scam” I immediately ignore the comment. It’s like “lambo”. It’s overused.

      • People use the word “scam” with no supporting justifiable evidence because they lost their way when critical thinking beans was being passed out to the masses. So yes you are correct Matthew. Yawwwnnn… I tell them to come back with some substance.

    • Nicholas Gutierrez

      Can you elaborate on why you think smart contracts in c# or java are impossible?

    • Matija Mihić

      you can write smart contracts in any lanuage that is supported by some platform.

      thi is just plain ignorance, trying to spread FOMO to non-technical users.

      people, he just said most stupid thing., like if i would say, “you cant say alexs is lieing in italian an spanish, it is impossible, only english is possible”

      • alexs

        the main question is will the system work. Ethereum has a very simplified programming language for smart contracts and the gas concept in order not to spam the network.

        • Ray Dollete

          Neo also uses a simplified language called Microsoft Intermediate Language (MSIL). People often just cite C# and Java because there are existing tools that help transpile these higher level languages down to MSIL.

          • Darks

            This is an implementation detail for the NEO “compiler”, and has nothing to do with the language that will be used to actually write smart contracts – which is C# right now, and Java in the future.

            Btw you can’t compile Java to MSIL. Java compiles to JVM bytecode, which requires a second and entirely different NEO “compiler” – same for every language they plan to add.

            At the end of the day everything on NEO is completely untested. Even now only the C# compiler actually works, and even still nobody’s been able to really build on it because there’s no documentation (so there’s guaranteed stuff that doesn’t actually work, since nobody’s been able to test it)

  • Brian Rogers

    I bought 147 NEO last week at $7.14 LOL……….. woohoo

    • Abdelhaq

      I also bought ANS and NEO, a combined total of 311 tokens. I’m not regretting HODL’ing the ANS. $6000 profit.

      @Alexs, please, just stop it… If you don’t have anything solid to back up your claim, just be quiet please.

      • Billy Shell

        How did you purchase it?

        • Abdelhaq

          Bittrex mostly

  • Darks

    NEO is definitely a borderline scam right now being propped up by paid advertising, great marketing and SEO. They have not implemented most of the features being promoted in these articles (fiat transactions, language SDKs for everything other than C#, public nodes). Not a single product has been built on the platform, and yet people are talking about it like it’s the next Ethereum. Total misinformation propagated by non-technical amateur investors & whales who are riding and promoting the speculation bubble. Invest long term at your own risk, this product is not ready for primetime.

    • Ray Dollete

      To be fair, MOST of the dapps built on Ethereum are also not ready for prime time. I’m actually a fan of both platforms.

      • Darks

        The main difference being that no dapps have been built for NEO at all. Those are a month or more away.

        I’m a fan of NEO’s concept, but a concept isn’t the same as a product.