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NEO Developers Just Unlocked 1.6 Million Tokens On The Market

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The NEO developers of the Chinese-based platform could see a considerable increase in volatility since more than $11 million in NEO tokens will be unleashed on the market, which represents 2.3 percent of the total circulating supply as we are reading in the latest NEO news.

As with many other platforms, the NEO developers have in their hands a substantial amount of the native token, which they do periodically to sell the coins and raise more funds. The large amounts that enter the market should come to no surprise at all. Whale Alert announced the new unlocking of the NEO tokens earlier today. All of the NEO tokens in question have not been sold yet, and the foundation didn’t say when this could happen. However, it is safe to say that a sale could happen soon, which will cause the token price to drop dramatically.

The crypt prices are bouncing back from the previous correction during the past week, and there’s no doubt that the NEO developers would like to see higher prices before they choose to liquidate. Luckily for the investors, the NEO Foundation has a reputation for transparency when It comes the financial issues. The Chinese-based platform reached the top 10 spots in the market two years ago, and this was considered a high level and a rival to Ethereum since NEO’s selling point was the ability to create decentralized applications in known coding languages.

The hype around NEO has dropped ever since, as with many other altcoins. The market value decreased in early 2018, and the market rank also continues to go down. The biggest challenge for the coin is to beat the strong rivals such as Cardano, VeChain, and others that promise to carve out places in the Dapp space. NEO could come back since it retained most of the core team of developers. This year, NEO plans a major upgrade, dubbed NEO 3.0, which will include the launching of a new mainnet.

Most analysts believe that NEO’s future will depend on the acceptance from the Chinse government, which still has to take place and to find a position on blockchain adoption. The rumors have long gone around the platform’s ties to influential leaders as well as some significant Chinese businessmen. All of the NEO advocates can now be assured that the platform has a strong vision to go forward, and there can be no question about the market value of the coin.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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Binance News

How To Trade NEO With Up To 50x Leverage On Binance

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Leveraged trading is one of the best tools for investors who want to make most of the latest altcoin news and capitalize on the profits. If you are wondering how to trade NEO with leveraged positions, this is the guide you need to read. As you probably know, Binance was always known as a traditional spot cryptocurrency exchanges. As of recently, it entered the cryptocurrency derivatives space and provides a simple, yet powerful platform for NEO leverage trading. The market behind this coin has evolved to the point where traders have no shortage of options when it comes to platforms for crypto margin trading. Moreover, learning how to trade NEO on Binance Futures can give you a good idea about other altcoins as well. If you are starting out, we recommend that you only use a small amount of cryptocurrency to trade with. Leveraged cryptocurrency trading comes with more risk than standard spot trading - and some of the terminology and concepts can be very difficult to understand for traders that are not yet experienced with this option. Below, we are listing the pros and cons. The pros of NEO leveraged trading:
  • You would like to use a small amount of cryptocurrency in order to enter a bigger trading position
  • You have a high risk tolerance and want to diversify your trading strategy beyond spot trading
  • You want to have the option to profit from the (falling) NEO price
The pros of NEO leveraged trading:
  • If you are starting with crypto trading, it might be best to learn how to trade NEO before trying leveraged trading
  • The losses can add up quickly if the market moves against you, so leveraged trading is not the best option for people who want a low risk tolerance
  • You are not interested in shorting NEO
Now, if the pros look promising to you, learning how to trade NEO is easy. You first need to create a Binance account, fund your Binance Futures wallet with USDT, go to the Binance Futures trading interface and create a NEO leverage order. From this point, all you need to do is monitor your order. For more updates on this coin, check out our daily NEO coin news!
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NEO News

NEO Analyst Estimate Huge Move For The Cryptocurrency

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NEO surged 115% since the middle of December of 2019, a real rampage. Besides the meaningful bullish drive, a well-known technical NEO analyst thinks that the crypto has the potential to grow even more so let’s find out more in the upcoming NEO news. A renowned trader and NEO analyst in the cryptocurrency community, Scott Melker, not long ago pointed out that the NEO/BTC trading pair broke out of an inverse head-and-shoulders- pattern. This poses a trend reversal formation that started to develop on the 1-day chart of NEO for a period of ten months, according to Melker. Now that NEO breaks the neckline point, Scott Melker anticipates a 50% growth that can take NEO to a high of 2,100 satoshis or something about $0.20.
 “This is still my favorite long term setup right now, which is saying a lot. Price broke out of the massive inverse head and shoulders and is testing horizontal resistance. Volume is rising daily, price tends to follow. Flipping 1528 to support should set this on fire,” said Melker.
Because of the extended time period that was needed for the development of the inverse head-and-shoulders pattern, Scott Melker says that there is: “no reason to turn bearish on setup this massive.” But a daily candlestick close below the right shoulder at 1,150 staoshis can invalidate the bullish attitude. A glans at the NEO/USD trading pair also presents the potential for a preposterous grow. Grounded on its 1-week chart, this crypto looks like it is forming in an ascending triangle. The development of this technical pattern is a causal consequence of the price movements of NEO. Along with the swing highs, a horizontal line was produced, and also alongside the swing lows, a trendline appeared. While, NEO can still pull back to the hypotenuse before it breaks out, at last, the $17.60 resistance level is representing an important price point to which attention should be focused. Progress above this price barrier can be the cause for a 70% growth that will directly result with the price of $30. Jesse Livermore, a well-known master of day trading, once said:
“Do not anticipate and move without market confirmation. Being a little late in your trade is your insurance that you are right or wrong.”
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NEO News

NEO Live AMA Event Discusses NEO’s Blockchain Capabilities

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The NEO Global Development (NGD) and the Incognito Chain participated in the NGD English Neo Live AMA Event on Thursday, February 20. This event was the first Live event where the hour-long conversation was recorded in a video format. The marketing manager, Songping Que, as well as the NGD eco growth manager Sarah Song along with the head of growth at Incognito Chain, Andrey Bugaevski, participated in the event. The NEO blockchain news gave a unique perspective on privacy and decentralized finance (DeFi), how incognito works and the next steps for incognito integration with Neo as well as other questions from the community. The NEO live AMA event started with an introduction from the NGD team where Song iterated the NEO efforts in integrating data privacy into its blockchain. Knowing that a blockchain is an open ledger, data can only be tracked by third parties which may negatively impact the willingness to store documents such as an individual's finances or business statements. In order to remedy the issue, NGD partnered with Incognito Chain, building privacy based solutions for the NEO blockchain. Bugaevski also cited one article in the NEO live AMA event - an article which exposed 133,000 unique names registered through the Ethereum Name Service. The authors followed trails of transactions and deduced total digital asset holdings in other wallets, business deals and events that people may attend in the future. One of NGD's primary goals for the future, as the cryptocurrency news showed, is to build infrastructure and support DeFI projects, encouraging them to build on top of NEO. In 2020, the company intends to offer a variety of features which are necessary for DeFi services such as credit and lending, custodial and non-custodial exchanges, payments as well as liquidity providers.
“Privacy is really important, [though] the underlying infrastructure will remain the same. But, Neo will use tools to implement privacy-protecting protocols (e.g., MimbleWimble, ring signature protocols, etc.)," Song stated.
More specifically, in the NEO live AMA event she said that the cryptocurrency project intends to integrate second layer scalability and privacy solutions.
“We want to have tools so that smart contracts can have privacy features; especially so inputs, outputs, and executing the smart contract can be shielded,” she concluded.
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NEO News

NEO Corrects Lower From $15.83, Now Sitting At $14.83

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The NEO cryptocurrency has recently astounded the traders. It all started when the NEO coin news and updates showed that an increase is coming and the coin jumped almost to the $16 levels. Now, we can see that NEO corrects lower from the $15.83 high that it found but even in the $14 region, the cryptocurrency is stable. What many analysts pointed out is that the rest of the month might hit the same. The current selling pressure for NEO might stay for a while and the closing of the week might be dramatic, too. Yesterday, the NEO coin was trading at $13.94 and in the next 1 hour and 42 minutes, the NEO coin news showed an update as the cryptocurrency hit $14.36. After that, the currency slipped marginally but recovered to $14.75 in the next 5 hours. Following this movement, the NEO price locked at the same level and surged to $15.31 to stay there only for a while after it dropped to $14.84. Then, many reported that NEO corrects and saw that the upsurge was stuck at 6.57% only. A movement for the NEO project and its token would be good at this point. The price counters moved from $14.84 to $15.77 by 6.24%. After reaching the high, the currency price locked around the same levels for a while. From this high, however, NEO faced steep fall and the price dropped to $14.55 showcasing a huge fall of 8%. As per the analysts from Trade99, the coin might drop in the upcoming hours if the current downward momentum remains intact. The immediate resistance level for NEO is now at $15.46 and the immediate support level is now at $13.13. The support level could get breached as NEO corrects and all of this support can be lost due to the pressure. Anyways, NEO is in a good position and only lost 2.92% overnight as a correction from its previous levels. Now, the altcoin news and rumors show that the coin is expected to rise again and go from $14.93 to a price level above $15. As NEO corrects, many are following the coin with similar movements. In the top 10, the biggest loser is Bitcoin SV (BSV) which managed to shed 4.36% off of its price and stabilize at $351. In the top 20, Ethereum Classic (ETC) is leading the gains with a 5% drop and a new price of $11.74 today.
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