NEO has been around for quite some period of time. However, most of the investors are still ignoring it as a cryptocurrency. That is why NEO is not able to gain a lot of traction as well. When you look at the closing of NEO in April, it was around $ 95. It has fallen consistently. That is why many of the investors are currently ignoring it as well.
When you look at the price of NEO recently, it is around $ 58. This is the reason why many of the investors are a lot not looking at NEO.
In terms of market cap, it has lost over $ 1.6 billion. The current market cap is around $ 3.8 billion. However, still, it is the 11th largest cryptocurrency.
There is no doubt that NEO has been performing very badly when it comes to cryptocurrencies. However, on the other hand, when you look at the developments which are happening in Neo, you will realize that they are significant as well. There are quite a few announcements which are made by the developers of Neo as well. It has recently partnered with Fenbushi Capital and also NGC the main question which remains is whether you should invest in Neo currently in order to reap rich dividends in the future.
Neo to launch a test net:
Test net version will be launched of the application. That is why users will be getting 50 NNC tokens. This will actually create more value. Also, this will enable the users to test the main network as well. This is another positive announcement by Neo.
In spite of the falling prices, if you’re holding Neo, it will be a good idea to hold currently. When you are able to hold it for a longer period of time, after the recent developments it will be able to surely gain a lot of traction. This, in turn, will ensure that you are able to get better prices for NEO. If you’re selling it now, you will be selling it at the bottom. That is why it is important for you to think about holding Neo currently so that you are able to get a better valuation for Neo. You have to keep this factor in mind if you are new cryptocurrency holders. If you are able to hold it for a longer period of time, it will become much easier for you to fetch good returns and liquidate it at a higher value as compared to the current prices.
Will NEO (NEO) Hit $100 Again Anytime Soon?
NEO Announces New Organizational Structure. NEO has reorganized its internal structure to streamline its two major business units.
NEO (NEO) has officially released specifics about its new organizational structure first mentioned by Da Hongfei back in April. According to the announcement, the NEO Council has officially reorganized into the NEO Foundation, co-chaired by Hongfei and Erik Zhang, and two operational units funded by the NEO Foundation.
In the announcement, NEO highlights the two major business units that are under the NEO Foundation’s control: NEO Global Development and NEO Global Capital.
“The two units fully funded by the NEO Foundation are NEO Global Development (NGD) and NEO Global Capital (NGC). NGD, dedicated to technological R&D, community operations and marketing, will execute strategies outlined by the NEO Foundation. NGC, the for-profit licensed fund management company registered in Singapore, will act as the investment arm to enforce the development of high-quality blockchain projects. Though NGC is fully funded by the NEO Foundation, the funds under its management may have other limited partners.”
Hongfei and Zhang, the co-chairs of the NEO Foundation, will have executive decision-making power. The project is also actively building an adjacent non-profit organization focused on enhancing academic research on NEO’s blockchain technology.
In the recent cryptocurrency rankings by the Chinese government, which were based on technology, application and innovation, NEO was ranked fourth, while Bitcoin was ranked 13.
Neo (NEO) Global Capital, Partners With Fenbushi Capital To Expand The Neo Ecosystem
In an announcement on the 5th of May, the NewEconoLabs (NEL) announced a partnership between NEO Global Capital (NGC) and Fenbushi Capital for Neo’s Name Service Project (NNS).
NNS is Neo’s Damion Name Service and is a distributed, open source and extensible domain name system based on the NEO Blockchain. Its chief aim is to replace wordless phrases such as wallet addresses that are difficult for the users to remember. The addresses will be replaced by a word or a phrase and NNS will allow you access to the wallet or a smart contract in the future.
NEO Global Capital is a Venture Capital firm that focuses on the investment of blockchain projects. It has been a key contributor to projects such as Zilliqa, Ontology, Switcheo, Moonlight, Point-to-point payment network, Trinity, amongst other projects. It is the investment arm of the NEO foundation. Its main goal is to assist projects that will assist the NEO ecosystem to grow and flourish.
With respect to Fenbushi Capital, the firm was established in 2015 and is also a Venture Capital entity with a reputation for investing heavily in Blockchain projects. The firm has invested over $50 Million in blockchain projects and is also holding a NEO consensus Node currently running on the TestNet version of the blockchain.
The partnership earlier mentioned, will allow for users to create .neo domains that can be used instead of public keys as a receiving address when making transfers. This partnerships goes on to further validate the NNS project as being a viable one and one to change the future of blockchain technology as we know it.
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With respect to NewEconoLab, this is a development community that was founded in China back in December. Its chief objective is to attract the best of the best talent in blockchain development and assist in the growth of the NEO ecosystem.
NEO is currently at the number 11 spot on coinmarketcap.com and is trading at $63.73 at the moment of writing this. The coin peaked back on January 16th when it was valued at around $196.