In the crypto market, new projects appear every day. On average, only one project out of ten becomes a complete working ecosystem, and only a few of those have an application to the problems of the modern world. One successful start-up is NEO, open-source crypto with the extended functionality to develop smart contracts and decentralized applications (dApps).
According to NEOSCAN, there are 2,940,701 NEO addresses. This looks impressive considering the project’s long existence although the usable amount of NEO is not specified (and some users may have more than one address).
Neo (NEO) might not be one of the biggest names in the business, but it’s reputedly China’s first open-source blockchain — and is often referred to as ‘the Chinese Ethereum’. Erik Zhang, one of the co-founders, is the inventor of the ‘Delegated Byzantine Fault Tolerance‘ consensus mechanism, making NEO the first crypto to use this algorithm.
Investors are bullish about NEO. Could Neo’s prospects really be so good? Let’s find out by this in-depth NEO price prediction.
Today’s Neo price is $11.32 with a 24-hour trading volume of $85,050,325. Neo is up 7.59% in the last 24 hours. The current CoinMarketCap ranking is #62, with a live market cap of $798,503,976 USD. It has a circulating supply of 70,538,831 NEO coins and a max. supply of 100,000,000 NEO coins.
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How to Buy NEO in a Few Simple Steps
Given China’s government’s limits on cryptocurrency transactions, NEO has the potential to become the cryptocurrency of choice in the severely restricted country, and maybe the whole world. NEO’s Onchain technology has been intended from the start to be regulator-friendly, with a centralized approach that is unlike that of other cryptocurrencies.
This might enable it to survive and expand even in China, where government officials are becoming cautious of the bitcoin industry. The government is concerned about cryptocurrency speculation’s financial concerns. Furthermore, its massive cryptocurrency mining activities have depleted the nation’s electrical supply to the point that they are jeopardizing the country’s environmental goals.
What Is NEO?
NEO, in short, is a blockchain project from China founded in 2014. It used to be called Antshares, but this changed later. NEO cryptocurrency is also called the Chinese Ethereum because they are strongly committed to creating a smart economy and receiving huge Chinese government support. This means that the project developers want to make it easy to use smart contracts on the NEO network.
For investors to use the NEO platform, the second crypto is used – namely, GAS. This can be considered the fuel of NEO. One share of the NEO token is also seen as one share in the network, and the GAS crypto is used to make transactions on this network.
It is possible to earn GAS with your NEO coin by saving your NEO coin in official wallets. This is due to the proof of stake principle. You deposit your NEO coin in your wallet and receive a portion of the GAS spent on the network in proportion to the amount of NEO coin you own. It is thus possible to generate some passive income for yourself.
You can imagine that when the NEO price or the GAS price rises, you will benefit from the price difference on your NEO but also that of your obtained extra GAS.
This is one of the reasons investors invest or have invested a lot in NEO crypto in the past. Over the years, as with any project, a lot has happened with the NEO price action. We should add that it’s impossible to mine this virtual currency because they were all distributed during the ICO.
NEO 3.0
The NEO team was working on the project for three years. The Cryptocurrency market has been waiting for the NEO 3.0 release since the end of 2020. The launch was postponed several times. However, in March 2021, Neo started rolling out an N3 version of its public blockchain technology.
NEO tries to create its own digital identity by attracting developers to create decentralized applications on the blockchain platform. The improved consensus protocol can be used worldwide. The upgrade of the system occurs when the Ethereum network (a major competitor of NEO) is suffering capacity problems. Moreover, China, famous for its strict crypto regulation, claimed blockchain as a strategically leading technology.
NEO 3.0 will raise transaction speed from 1,000/second to 5,000/second and cut “gas fees” 100 times. The fee reduction is a core point in competition with ETH, which has too high fees.
The upgrade will include a decentralized file storage solution and a new governance mechanism. Under the new governance, NEO holders will vote in a NEO Council, which includes 21 members. The Council will control the management of fees, network upgrades, and other operation-based cases.
Poly Network, a consortium interoperability protocol, is used to facilitate NEO token migration to the new network. The migration with Poly Network will show whether the network works well to create a blockchain from scratch and transfer all the data from the existing chain without errors.
Here are some of the major elements of the NEO 3.0 network that are supposed to attract developers to the system: multi-language support, native oracles that secure access to any off-chain data, advanced interoperability, decentralized storage, and self-sovereign identity, best-in-class tooling, and a dual-token model.
Sometimes people include NEO in the list of Ethereum Killers. Both systems provide similar features for the market, but NEO has more advanced technology and surpasses ETH in various aspects.
The platform uses its own virtual machine NeoVM, allowing you to run even the most complex contracts quickly. The theoretical network capacity is 10,000 transactions per second.
At the moment, the speed does not exceed 1000 tps. NEO implements an advanced dBFT protocol that effectively protects the system from most known cyberattack methods. Unlike Ethereum, which uses the extremely sophisticated programming language, Solidity, NEO supports Java, C#, Kotlin, GO, and Python.
In the middle of April 2021, after NEO 3.0 started rolling out, the NEO/USD pair managed to hit $130. It’s a significant rise from 0.0320 USD during the ICO in August 2017. Analysts and crypto enthusiasts believe that it’s not the limit and that further development will lead to higher prices.
NEO Price History
Before the rebranding in 2017, NEO was previously called Antshares. When the company finished rebranding and became NEO, the coin’s price increased from $1 to $7. The crypto community started actively buying NEO when it learned about the coin. In August, the coin reached $40, and the market capitalization of NEO was $2 bln.
For several months, NEO was traded between $20 and $40; then, in December 2017, it started growing rapidly and nearly all the other digital assets on the market. Beyond benefitting from the overall influx of buyers into the market at that time, the growth of NEO was boosted by it getting listed on Bithumb, the largest active crypto exchange at the time. As a result, in mid-January, the coin reached its ATH – $196.
When the market turned bearish, NEO started going down. In March 2018, the digital coin cost about $52, but it returned to $76 before falling back again to $40. April was the last month when NEO showed solid growth and reached $83. After that, the coin started gradually falling, and by the end of 2018, NEO’s rate was $7.
In April 2019, when Bitcoin started growing again, NEO jumped from $9 to $12. Besides, NEO upgraded its algorithm to improve transaction speed and stability of the network. However, the update didn’t have a significant effect on the market price of the coin. By the end of June, the coin reached $20 and then dropped to its price of $8.
In September 2019, NEO presented three new products: NEO ONE Developer Framework, NeoFS Distributed File System, and NEO Blockchain Toolkit. All these tools will be used in the new NEO 3.0. After the announcement, the coin price gradually grew to $10 and, in November, fell back to $8. For the next seven months, the coin price has been fluctuating from $6 to $14.
As you see from the historical chart above, the NEO price breaks through the local highs, and the candlesticks’ lows are rising. There is a clear bullish trend. Blue dots mark the peaks of trading volumes in 2019 and 2020. Opposite, there are Japanese candlesticks, which we should analyze to identify closing levels, lows, and highs. These figures will define the key support and resistance level.
In July 2019. The NEO price is trading in the uptrend as indicated with the red candlestick, which indicates a bearish price movement. The candlestick is close and low.
The trading volume formed in September 2020 was high at 25.62 and broke the current January candlestick, but the price failed to consolidate above.
The most recent January candlestick is green; its body covers the candlestick bodies over the previous four months. Therefore, the NEO bullish momentum is likely to continue.
The NEO price at the start of this month has been ranging from around $30 to $50 and seems to have acquired bullish potential.
NEO Technical Analysis
NEO technical analysis indicates that the market’s volatility appears to be following a decreasing trend, meaning that the market shows more signals towards experiencing volatile change. This will result in a less variable price for NEO. The upper limit of the Bollinger’s band is present at $12.93, which serves as the strongest resistance for NEO. Conversely, the lower limit of the Bollinger’s band is present at $8.88, which serves as the strongest support for NEO.
The NEO/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish movement. However, the price path can be seen following an upward movement, indicating an increasing market for cryptocurrency.
The Relative Strength Index (RSI) is 37, signifying a stable value for NEO. Unfortunately, this means that the cryptocurrency falls into a devaluation region. However, the RSI path can be seen following an upward movement indicating that the cryptocurrency is experiencing increasing value.
The conclusion of the NEO price analysis shows that the recognition made of the current behavior of the cryptocurrency indicates that it is following a strong upward trend with the possibility of maintaining its energy and keeping the market. NEO/USD climbed with fatigue at the $10.60 mark; the price reached $10.57 on May 28, 2022. The market shows vital signs of a bullish period for the time being.
NEO Price Predictions 2022-2030
Wallet Investor
According to their NEO forecast, long-term growth is projected, with a price forecast of $129.502 for 2027. The future price is estimated to be roughly +538.57 percent after a 5-year investment.
Trading Beasts
The NEO price estimate by Trading Beasts has been amended. By the end of 2022, it predicts the token to be worth $22.637. Trend reversals, on the other hand, it says, will drive the price down to $15.393. It would end up trading at $18.110 if average buying and selling forces prevailed.
Long-term NEO predictions have also been made by the website. By the end of 2025, it anticipates the price will reach a peak of $48.4336. However, for the year, the average and minimum probability are anticipated to be $38.749 and $32.936, respectively.
Digital Coin Price
According to the Digital Coin Price NEO coin price prediction. By the end of 2022, the cryptocurrency is expected to reach a high of $26.95. The lowest and average objectives, according to the experts, will be $23.45 and $25.51, respectively. According to the forecast, NEO might end its trading year in 2023 at a possible high of $31.26. And in 2025, with a maximum closing price of $41.94, with a maximum closing price of $41.94.
Cryptopolitan
NEO Price Prediction 2022
The NEO price forecast for 2022 suggests that the price is expected to reach a minimum of $12.36 in 2022. With an average trading price of $12.86, the NEO price may reach a maximum of $14.22.
NEO Price Prediction 2023
In 2023, the price of Neo is expected to drop to a minimum of $17.28. Throughout 2023, the Neo price might reach a high of $21.46, with an average price of $17.80.
NEO Price Prediction 2024
The NEO price is predicted to pass an average price level of $26.36 in 2024, with a minimum price value of $25.47 expected before the end of this year. Furthermore, NEO has the potential to reach a maximum price of $29.52.
NEO Price Prediction 2025
In 2025, the price of one Neo is predicted to reach a minimum of $36.51. Throughout 2025, the NEO price might reach a maximum of $44.05, with an average price of $37.57.
NEO Price Prediction 2026
The NEO price is predicted to pass an average price level of $54.59 in 2026, with a minimum price value of $53.08 expected before the end of this year. Furthermore, NEO has the potential to reach a maximum price of $61.70.
NEO Price Prediction 2027
The price of Neo is expected to be approximately $78.13 in 2027. With an average trading value of $80.86, the Neo price may reach a maximum of $92.67.
NEO Price Prediction 2028
In 2028, the price of Neo is expected to drop to a minimum of $114.26. Throughout 2028, the Neo price might reach a maximum of $136.67, with an average trading price of $117.50.
NEO Price Prediction 2029
The price of Neo is predicted to reach a minimum of $159.93 in 2029. The price of NEO may reach a maximum of $198.49, with an average price of $165.80.
NEO Price Prediction 2030
The NEO price is predicted to pass an average price level of $227.29 in 2030, with a minimum price value of $219.00 expected before the end of this year. Furthermore, NEO has the potential to achieve a maximum price of $277.37.
Conclusion
According to algorithmic averages and expert predictions, the price of one NEO currency will be closer to $100 in five years, nearly two times more than the present price. As a result, NEO is a long-term investment that pays out.
Given this, investors should consult a financial professional before making any investment decisions. Above all, never put more money into something than you can afford to lose. The bitcoin exchange market is in danger of collapsing at any time.
Predicting the future of any cryptocurrency is never easy, as you can undoubtedly guess. Many factors influence whether the price rises or falls. NEO has a number of technological advantages over Ethereum, which gives it a bright future.
FAQs about NEO
In 1 year from now, what will NEO be worth?
Throughout 2023, the Neo price might reach a high of $21.46, with an average price of $17.80.
Will NEO go up in 2022?
Yes, according to forecasts, from an average trading price of $12.86, the NEO price may reach a maximum of $14.22.
Source: https://www.cryptopolitan.com/neo-price-prediction/