After gaining 2,300% in six months and launching a string of eagerly anticipated ICOs, Neo is quite the success story. It’s that rare thing in the crypto space: a blockchain that’s actually seeing use. A bitcoin price equivalence of $580 per token (if Neo had a 21m supply) suggests there’s still plenty of room to grow. Neo is currently trading for $150, after peaking at $193 earlier this month. But behind the scenes, everything isn’t as rosy as it seems; the Chinese blockchain faces persistent claims of over-centralization and rumors of US exchange delisting.
The Neo Kid on the Blockchain
If 2017’s crowdsales were all about Ethereum, 2018 is shaping up to be the year of Neo. The Asian smart contract platform has some way to go before it can match the transaction volume, market cap, or number of ICOs as Ethereum. But if hype is any arbiter of things to come, Neo is on course to own 2018. The biggest token generation events this month have all been on the Neo blockchain, with tokens selling out in record time.
The Key raised $22 million in minutes, and projects such as Aphelion – a Neo P2P DEX – and Deepbrain – an AI platform – have also reported record uptake. Others still to come include Zeepin, Narrative, and Apex, the latter boasting one of the largest crypto Telegram groups and guaranteed to hit its $25m cap. On the surface, everything is going smoothly, but beneath the waters the good ship Neo is sailing on, trouble may be brewing.