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Neo is a crypto that has recorded one of the most jaw-dropping performances since the beginning of the year. Let’s look at it together in this in-depth discussion.
The cryptocurrency Neo (formerly AntShares) has been one of the most remarkable gallops in the crypto world in 2023.
From 1 January to today, the token has appreciated nearly 150%, let’s take a closer look at it together in this focus.
The genesis of the project
Neo was officially born in 2016 although, the first version saw the light of day in 2014 thanks to the collaboration between Da Hongfei and Erik Zhang.
At the time of its launch Neo was called Antshares but almost immediately took on the name by which we now know it.
The name change occurred close to the launch to have a name that was more Smart and usable by the market.
The company aspires to create a smart economy through its blockchain and smart contracts.
The digital currency is based on DBFT (Byzantine fault-tolerant decentralized consensus) and can process more than 10000 transactions per second.
Neo is not the company’s only token; indeed, there is a second token called Gas.
This second token has the function of being the instrument for payment of fees and is not subject to inflation which is regulated by an ad hoc algorithm.
Trend of the Neo (NEO) crypto
This past week has been nothing short of memorable for the token bearing the same name as the protagonist of the Matrix trilogy.
The token posted the second best growth among Chinese currencies with a +72.30% performance.
The currency entered the top 15 by market capitalization steadily and boasts just under $1 billion.
If the weekly figure impresses, the year-to-date figure is no less impressive. Indeed, Neo has risen since 1 January by 142.20%.
Today, the price of NEO stands at €13.92, an appreciation of 28.16% compared to yesterday and a circulating supply of 70.5 million units.
Latest news about Neo
The currency, which prides itself on its complexity stemming from the various programming languages that make it up, has benefited from a boost specifically from Hong Kong’s policy shift.
Starting 1 June of this year, it will be possible to trade in cryptocurrencies in the city-state.
The consequences of this momentous choice were immediately seen in trading with Chinese tokens rising sharply.
Among the best performers as mentioned above was Neo, which was able to benefit from the bullish sentiment.
Thanks to the new ability to invest in digital currencies, Chinese banks have increased exposure in cryptocurrencies and Neo has benefited from strong liquidity inflows.
News emerged on the 11th of last month that Neo released the Neo Year Review, a facilitator that makes it easy to set up new crypto projects.
September last year, on the other hand, saw the light of Neo Pod, an initiative aimed at funding the best projects and talent in the crypto world.
The initiative is the result of collaboration with the sixteen top universities in the United States of America despite the perplexity of the Asian government.
The GrantShsres extension has provided a clear and effective funding opportunity for Neo’s decentralization.
The control of operations occurring through the DAO has seen $145,000 in funding flow in for next-generation projects.
Not only development of new projects, the company’s top programmers in fact are also focusing on DeFi, GameFi, Web3 and metaverse to keep up with trends.
Speaking of Neo, actor and investor Keanu Reeves, who was the protagonist of the Matrix trilogy, spoke his mind in an interview.
The star stressed the merits of crypto to Wired reporters during the premiere of his new John Wick film:
“I think the principle and ideas behind an independent currency are amazing.”
These were the words of the actor who, on the other hand, was more skeptical about the metaverse:
“It’s a show […] a system of control and manipulation. We are on our knees looking at the cave walls and viewing the projections without being able to look behind us. Or sideways.”