NEO is called the second generation blockchain platform and has gathered a lot of attention in the past few years. It was also called the Chinese Ethereum. NEO is also known for its features known as ‘’Antshares’’. It was launched in 2016 and as a project; they focused on digital assets but couldn’t really be seen on the market. After the announcement that they were working with the Chinese government, they renamed their project to NEO and it rapidly caught the eye of the public.
There are a few key factors that can lead to NEO to rise in 2018. First and most important is the supply and demand. The maximum supply is limited to 100 million and there are currently more than 70 million in circulation. If this platform shows effectiveness with its smart contracts and dapps, this can lead to an increased demand for tokens. Also, tokens are now very easily available. The general public has a great option this way to get to it and this is why they are looking to start with NEO.
However, there are some factors that might lower the chances of NEO to rise in 2018. For example, if the platform doesn’t gain sufficient interest and use, this can be bad news for neo. Also, there are currently so many projects that are working on smart contracts and this means stiff competition for neo. Another very important element is the government crackdowns, technological issues, and neo’s indivisibility.
The price movements are always uncertain. In the short term, you can expect high volatility as with any other cryptocurrency. If the Chinese government starts a full crackdown on cryptocurrency, we should expect for the prices to sink but if NEO and China find common ground, it’s highly likely to see a mainstream adoption of this particular currency.
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