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NEO is amongst today's biggest gainers adding a modest 6% to its token price, but what's behind the rise?
Currently, NEO is citing a price of $13.38:
NEO/USD Chart provided by Tradingview
Why is NEO rising?
As always, this boost of market confidence in NEO appears to be emanating from the project’s continued growth. Of late NEO’s socials have depicted several bullish developments to the ecosystem, including a recent update the blockchain consensus mechanism delegated Byzantine Fault Tolerance 2.0 (dBFT):
Successfully upgraded NEO MainNet on Monday! The long-waited dBFT 2.0 & NEO-CLI 2.10.2 is proven to elevate the stability and overall performance of the MainNet. We’ll let the numbers speak .
— NEO Smart Economy (@NEO_Blockchain) June 5, 2019
Learn more in the article by NEO core developer @Laborious1558 https://t.co/x3CXEF24Dr pic.twitter.com/nHWm2GKmkD
Alongside this, NEO recently partnered with Liquefy to create a NEO based security token ecosystem, allowing the issuance of security tokens based on the NEO blockchain.
We are excited to work with @LiquefyTech, to develop a NEO-based security token ecosystem! https://t.co/2qPPETh405
— NEO Smart Economy (@NEO_Blockchain) June 12, 2019
Further evidence of the momentum to build the ecosystem was offered by the ever vigilant WhaleAlter to notified followers earlier today that a transfer of 120,000 NEO (worth a current USD equivalent of $1.6 million) took place from a developer wallet to an unknown wallet.
120,000 #NEO (1,586,290 USD) transferred from Dev Account Unlocked to unknown wallet
— Whale Alert (@whale_alert) June 13, 2019
Tx: https://t.co/nelUol4Gzn
Despite a few cries of “pump” and “dump,” a previous tweet from the NEO team allayed fears that this freshly unlocked capital was, in fact, going towards the furthering of the NEO blockchain.
📢Notice: #NEO Foundation unlocks 5,530,000 $NEO as planned. These funds are used to build the NEO ecosystem and support the growth of the community. #EcoBoost #DEVcommunity
— NEO Smart Economy (@NEO_Blockchain) May 23, 2019
You can find the notice in detail via the link below,https://t.co/wx8lyr48Z2