Neo
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Assalam u Alaikum today I am sharing four coins with you guys in which one coin will pump very fast and it will go to a very good price about this coin only I will tell my New VIP team Member.
Coins Name
1- #Neo
2- #Lunc
3- #Ustc
4- #Saga
All Target and Idea share just Vvip team.
#Dyor
#Cryptopredictor
$BTC $ETC $BNB
Assalam u Alaikum today I am sharing four coins with you guys in which one coin will pump very fast and it will go to a very good price about this coin only I will tell my New VIP team Member.
Coins Name
1- #Neo
2- #Lunc
3- #Ustc
4- #Saga
All Target and Idea share just Vvip team.
#Dyor
#Cryptopredictor
$BTC $ETC $BNB
Why $NEO is a Smart Investment Choice for Traders in 2024
$NEO Are you a trader searching for the next big cryptocurrency to add to your portfolio? Consider NEOâa project often dubbed as the "Ethereum of China." NEO's impressive fundamentals, coupled with its strong market positioning, make it an appealing option for both short-term traders and long-term investors. Here's why NEO could be your next profitable trade:
1. What is NEO?
NEO is a blockchain platform designed to create a scalable network for decentralized applications (dApps). It supports smart contracts, allowing developers to create and execute these contracts without intermediaries. NEO stands out by focusing on creating a "smart economy," where digital assets, digital identity, and smart contracts come together to foster a robust ecosystem.
2. Current Market Overview
As of now, NEO ranks #94 among cryptocurrencies, with a market cap of $750.79 million. Its current price sits at $10.64, experiencing a modest increase of 0.29% in the past 24 hours. Though relatively stable, NEO has seen large fluctuations in the past, making it ideal for traders looking for volatility opportunities. The 24-hour trading volume is $25.72 million, and the volume-to-market cap ratio is 3.44%, suggesting there's liquidity for active trading.
3. Fundamentals and Supply Metrics
Circulating Supply: 70.54 million NEO (out of 100 million max supply)Total Supply: 100 million $NEO
NEO's capped supply offers a level of scarcity, which appeals to traders and investors who understand the value of deflationary assets. With a fixed total supply of 100 million NEO tokens, long-term holders could benefit from increased demand as adoption rises.
4. Historical Performance
One of the most interesting aspects of NEO is its price history. At its all-time high in January 2018, NEO reached a staggering $196.85 per coin. Currently, the price has dropped 94.59% from its peak, offering a significant discount for traders who believe in NEO's long-term potential. Conversely, NEO's all-time low occurred in October 2016, when it traded at $0.07229âan increase of 14,633.9% to its current price.
This volatility demonstrates NEO's capacity for significant price movements, which could translate into major trading opportunities for those with a good entry strategy.
5. Price Performance & Stability
Over the past 24 hours, NEO has had a low of $10.50 and a high of $10.68, demonstrating relative price stability. While this might not seem like a huge swing, these subtle movements are opportunities for day traders using technical analysis.
6. The Future of NEO: Full-Diluted Valuation (FDV)
NEOâs FDV stands at $1.06 billion, showing what the market capitalization would be if all tokens were in circulation. This figure indicates strong potential growth, especially with the increasing global adoption of blockchain technology.
7. Why Traders Should Care
Volatility: NEO has experienced large price swings in the past, which could provide lucrative opportunities for active traders.Liquidity: With a 24-hour trading volume of $25.72 million, traders wonât have to worry about liquidity, allowing them to enter and exit positions efficiently.Discounted Price: Given that NEO is currently trading over 94% below its all-time high, traders could view this as an entry point for significant upside potential.
8. Wallets and Security
NEO is compatible with several popular wallets, including Ledger and UCID, ensuring that traders can store their tokens safely. Moreover, its blockchain explorers, like Neoscan.io, provide transparency and allow users to track their transactions easily.
9. Long-term vs. Short-term Outlook
Short-term traders: The small price fluctuations of 0.29% on a daily basis can be leveraged using swing or day trading strategies. Pair NEO's current price with solid technical indicators for better-informed trades.Long-term investors: With NEOâs previous high of $196.85 and current price levels near $10, there is considerable upside potential if NEO sees another rally. Plus, its smart contract capabilities and growing ecosystem offer a fundamental case for long-term growth.Conclusion
With its robust fundamentals, capped supply, and history of significant price movements, NEO presents itself as an intriguing option for both traders and long-term investors. Whether you're looking to capitalize on short-term volatility or secure a position in a promising long-term project, NEO deserves a spot on your watchlist.
Don't miss out on this opportunityâkeep an eye on NEO, monitor market conditions, and adjust your trading strategies accordingly. The smart economy is just getting started, and you can be a part of it by trading NEO today!
#TrendingTopic #Neo
1. What is NEO?
NEO is a blockchain platform designed to create a scalable network for decentralized applications (dApps). It supports smart contracts, allowing developers to create and execute these contracts without intermediaries. NEO stands out by focusing on creating a "smart economy," where digital assets, digital identity, and smart contracts come together to foster a robust ecosystem.
2. Current Market Overview
As of now, NEO ranks #94 among cryptocurrencies, with a market cap of $750.79 million. Its current price sits at $10.64, experiencing a modest increase of 0.29% in the past 24 hours. Though relatively stable, NEO has seen large fluctuations in the past, making it ideal for traders looking for volatility opportunities. The 24-hour trading volume is $25.72 million, and the volume-to-market cap ratio is 3.44%, suggesting there's liquidity for active trading.
3. Fundamentals and Supply Metrics
Circulating Supply: 70.54 million NEO (out of 100 million max supply)Total Supply: 100 million $NEO
NEO's capped supply offers a level of scarcity, which appeals to traders and investors who understand the value of deflationary assets. With a fixed total supply of 100 million NEO tokens, long-term holders could benefit from increased demand as adoption rises.
4. Historical Performance
One of the most interesting aspects of NEO is its price history. At its all-time high in January 2018, NEO reached a staggering $196.85 per coin. Currently, the price has dropped 94.59% from its peak, offering a significant discount for traders who believe in NEO's long-term potential. Conversely, NEO's all-time low occurred in October 2016, when it traded at $0.07229âan increase of 14,633.9% to its current price.
This volatility demonstrates NEO's capacity for significant price movements, which could translate into major trading opportunities for those with a good entry strategy.
5. Price Performance & Stability
Over the past 24 hours, NEO has had a low of $10.50 and a high of $10.68, demonstrating relative price stability. While this might not seem like a huge swing, these subtle movements are opportunities for day traders using technical analysis.
6. The Future of NEO: Full-Diluted Valuation (FDV)
NEOâs FDV stands at $1.06 billion, showing what the market capitalization would be if all tokens were in circulation. This figure indicates strong potential growth, especially with the increasing global adoption of blockchain technology.
7. Why Traders Should Care
Volatility: NEO has experienced large price swings in the past, which could provide lucrative opportunities for active traders.Liquidity: With a 24-hour trading volume of $25.72 million, traders wonât have to worry about liquidity, allowing them to enter and exit positions efficiently.Discounted Price: Given that NEO is currently trading over 94% below its all-time high, traders could view this as an entry point for significant upside potential.
8. Wallets and Security
NEO is compatible with several popular wallets, including Ledger and UCID, ensuring that traders can store their tokens safely. Moreover, its blockchain explorers, like Neoscan.io, provide transparency and allow users to track their transactions easily.
9. Long-term vs. Short-term Outlook
Short-term traders: The small price fluctuations of 0.29% on a daily basis can be leveraged using swing or day trading strategies. Pair NEO's current price with solid technical indicators for better-informed trades.Long-term investors: With NEOâs previous high of $196.85 and current price levels near $10, there is considerable upside potential if NEO sees another rally. Plus, its smart contract capabilities and growing ecosystem offer a fundamental case for long-term growth.Conclusion
With its robust fundamentals, capped supply, and history of significant price movements, NEO presents itself as an intriguing option for both traders and long-term investors. Whether you're looking to capitalize on short-term volatility or secure a position in a promising long-term project, NEO deserves a spot on your watchlist.
Don't miss out on this opportunityâkeep an eye on NEO, monitor market conditions, and adjust your trading strategies accordingly. The smart economy is just getting started, and you can be a part of it by trading NEO today!
#TrendingTopic #Neo
$NEO 's Quantum Leap: $GAS Skyrockets 52.18% as Revolutionary Sidechain Emerges! đđĄď¸đš
In a thrilling ascent, #GAS has skyrocketed to $5.3, briefly pausing at $5.02. This marks a remarkable 52.18% surge within the last day. đđđ°
Exciting reports reveal that #Neo is forging ahead with a groundbreaking sidechain designed to fend off MEV attacks and seamlessly interact with the EVM. This sidechain is in active development and set to make its debut by the close of 2023. đđđ
The new Neo sidechain will harness the strengths of Neo N3, featuring:
đĄď¸ The dBFT consensus mechanism, optimizing transaction speed, scalability, fairness, and preserving hierarchy and recoverability.
đ NeoVM, the pioneering non-EVM smart contract system, enabling developers to craft smart contracts in their preferred languages, such as C#, Go, Python, Java, and TypeScript.
đĄ The unique NEO and GAS token model, offering flexibility, scalability, advanced governance, and reduced volatility, while fueling incentives for the Neo ecosystem.
This trans-formative side chain promises to elevate the real-world utility of NEO and GAS, opening new horizons for their applications and enhancing the functionality of GAS. đđđ
Disclaimer: While these developments are exciting, it's important to conduct your research and make informed decisions in the dynamic world of cryptocurrencies. đŚđđđź #crypto #cryptocurrency
đ a small LIKE & FOLLOW , motivates me a LOT â¤ď¸
In a thrilling ascent, #GAS has skyrocketed to $5.3, briefly pausing at $5.02. This marks a remarkable 52.18% surge within the last day. đđđ°
Exciting reports reveal that #Neo is forging ahead with a groundbreaking sidechain designed to fend off MEV attacks and seamlessly interact with the EVM. This sidechain is in active development and set to make its debut by the close of 2023. đđđ
The new Neo sidechain will harness the strengths of Neo N3, featuring:
đĄď¸ The dBFT consensus mechanism, optimizing transaction speed, scalability, fairness, and preserving hierarchy and recoverability.
đ NeoVM, the pioneering non-EVM smart contract system, enabling developers to craft smart contracts in their preferred languages, such as C#, Go, Python, Java, and TypeScript.
đĄ The unique NEO and GAS token model, offering flexibility, scalability, advanced governance, and reduced volatility, while fueling incentives for the Neo ecosystem.
This trans-formative side chain promises to elevate the real-world utility of NEO and GAS, opening new horizons for their applications and enhancing the functionality of GAS. đđđ
Disclaimer: While these developments are exciting, it's important to conduct your research and make informed decisions in the dynamic world of cryptocurrencies. đŚđđđź #crypto #cryptocurrency
đ a small LIKE & FOLLOW , motivates me a LOT â¤ď¸
$NEO must surpass the critical $20 level to kickstart a strong upward movement. This resistance acts as a key barrier, and breaking through it could signal the beginning of a new bullish phase. China's stance on #cryptocurrencies plays a significant role in Neo's trajectory, given its origins and strong ties to the region. Any supportive regulatory developments or positive sentiment from China could further boost its momentum. #Neo is also positioning itself as a contender in the smart contract and blockchain ecosystem, potentially following $ETH âs lead. With market conditions aligning, Neo might emerge as a strong performer in the crypto space.
#AltcoinNextMove #ETHPriceSurge
#AltcoinNextMove #ETHPriceSurge
đ Neo Unveils MEV-Resistant Sidechain Compatible with EVM!
đŁ Neo has just dropped a major bombshell for the crypto world! They're working on a cutting-edge sidechain that's battle-ready against MEV attacks and seamlessly compatible with the Ethereum Virtual Machine (EVM). đĄď¸đŞ
đ This revolutionary sidechain will inherit Neo N3's robust economic model and utilize the dBFT consensus mechanism. It's currently in active development and all set to see the light of day by the end of 2023. đď¸
đŽ Brace yourselves for a game-changing addition to the crypto ecosystem! Neo's commitment to innovation and security is truly commendable. đđ
Stay tuned for more in-depth analysis on this thrilling development. Neo is clearly paving the way for a brighter, more secure crypto future. đđ #Neo #CryptoInnovation #MEVResistance #EVMCompatibility
đŁ Neo has just dropped a major bombshell for the crypto world! They're working on a cutting-edge sidechain that's battle-ready against MEV attacks and seamlessly compatible with the Ethereum Virtual Machine (EVM). đĄď¸đŞ
đ This revolutionary sidechain will inherit Neo N3's robust economic model and utilize the dBFT consensus mechanism. It's currently in active development and all set to see the light of day by the end of 2023. đď¸
đŽ Brace yourselves for a game-changing addition to the crypto ecosystem! Neo's commitment to innovation and security is truly commendable. đđ
Stay tuned for more in-depth analysis on this thrilling development. Neo is clearly paving the way for a brighter, more secure crypto future. đđ #Neo #CryptoInnovation #MEVResistance #EVMCompatibility
$NEO major support is currently around $8.60, which has been a solid base during recent price movements. The first major resistance lies at $12.00. Breaking through this level could push #NEO toward additional resistance points at $14.00 and $15.40, which are critical for a sustained upward trend.
#Neo $SOL $USDC #BTCUptober
#Neo $SOL $USDC #BTCUptober
Which were the prominent cryptocurrencies of the day? 30 October 2023
With (BTC) priced above 34 thousand dollars, which projects recorded the most activity in the altcoin market?With Bitcoin (BTC) being priced above 34 thousand dollars, which projects recorded the most activity in the altcoin market?
, which instilled confidence in both the market and investors after settling above $ 34,000, continues to create volatile movements in altcoins. Which altcoins, the pioneer of cryptocurrencies, which has not yet made a clear correction despite its breathless rise since $ 28,000, created the most movement?Gala ("GALA"), which increased by 18.36 percent in the last 24 hours, was at the top of the list of the most rising coins. With an increase of 13.75 percent, Axie Infinity (AXS) is in second place, with an increase of 11.41 percent, Internet Computer (ICP) is in third place, with an increase of 10 percent, The Sandbox (SAND) is in fourth place, and finally, in fifth place, 9 percent. It was followed by Decentraland (MANA) with an increase of 67 percent.Losers List
THORChain (RUNE) was at the top of the list of coins that fell the most. fell by 2.42 percent in the last 24 hours and reached the top. Then came Stacks (STX). STX lost 2.27 percent in the last 24 hours. (FLOKI) ranked third with a decrease of 2.02 percent, and (NEO) ranked fourth with a decrease of 1.54 percent. GateToken (GT) took the last place with a loss of 1.08 percent.
With (BTC) priced above 34 thousand dollars, which projects recorded the most activity in the altcoin market?With Bitcoin (BTC) being priced above 34 thousand dollars, which projects recorded the most activity in the altcoin market?
, which instilled confidence in both the market and investors after settling above $ 34,000, continues to create volatile movements in altcoins. Which altcoins, the pioneer of cryptocurrencies, which has not yet made a clear correction despite its breathless rise since $ 28,000, created the most movement?Gala ("GALA"), which increased by 18.36 percent in the last 24 hours, was at the top of the list of the most rising coins. With an increase of 13.75 percent, Axie Infinity (AXS) is in second place, with an increase of 11.41 percent, Internet Computer (ICP) is in third place, with an increase of 10 percent, The Sandbox (SAND) is in fourth place, and finally, in fifth place, 9 percent. It was followed by Decentraland (MANA) with an increase of 67 percent.Losers List
THORChain (RUNE) was at the top of the list of coins that fell the most. fell by 2.42 percent in the last 24 hours and reached the top. Then came Stacks (STX). STX lost 2.27 percent in the last 24 hours. (FLOKI) ranked third with a decrease of 2.02 percent, and (NEO) ranked fourth with a decrease of 1.54 percent. GateToken (GT) took the last place with a loss of 1.08 percent.
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Market Analysis:
Market Cap: $2.65 trillion
24-hour Trading Volume: $104 billion
BTC Share: 52.3%
ETH Share: 16.5%
đ¸BKÂŽ Health Rating: 5 (1 to 10)
đ¸BKÂŽ Sentiment Index: 45% (-100% to 100%)
Binance Exchange Analysis (USDT Trading Pairs):
Biggest Gainers:
TNSR: +6147%NEO: +35%PUNDIX: +24%
Biggest Losers:FARM: -18%TRU: -12%BICO: -11%
Binance Futures Analysis:
Biggest Gainers:
NEOUSDT: +34%TONUSDT: +24%
Biggest Losers:TRUUSDT: -12%BICOUSDT: -11%
24-hour Maximum Volume: BTC/USDT ($3950 billion) ETH/USDT ($2085 billion)
Daily Outlook:
TNSR, NEO, and PUNDIX are the current market leaders. BTC is going through a correction period and is expected to reverse soon. Meanwhile, BTC.D shows bearish indicators, suggesting a possible bullish trend for Alts in the coming days.
#çé¨čŻé˘ #BTCă #ETHđĽđĽđĽ #tnsr #Neo $BTC $ETH $NEO
Market Cap: $2.65 trillion
24-hour Trading Volume: $104 billion
BTC Share: 52.3%
ETH Share: 16.5%
đ¸BKÂŽ Health Rating: 5 (1 to 10)
đ¸BKÂŽ Sentiment Index: 45% (-100% to 100%)
Binance Exchange Analysis (USDT Trading Pairs):
Biggest Gainers:
TNSR: +6147%NEO: +35%PUNDIX: +24%
Biggest Losers:FARM: -18%TRU: -12%BICO: -11%
Binance Futures Analysis:
Biggest Gainers:
NEOUSDT: +34%TONUSDT: +24%
Biggest Losers:TRUUSDT: -12%BICOUSDT: -11%
24-hour Maximum Volume: BTC/USDT ($3950 billion) ETH/USDT ($2085 billion)
Daily Outlook:
TNSR, NEO, and PUNDIX are the current market leaders. BTC is going through a correction period and is expected to reverse soon. Meanwhile, BTC.D shows bearish indicators, suggesting a possible bullish trend for Alts in the coming days.
#çé¨čŻé˘ #BTCă #ETHđĽđĽđĽ #tnsr #Neo $BTC $ETH $NEO
đđŻ Free Prediction Services đŞđ
King Of Crypto #Bitcoin đŞđ&#cryptopredictor
đ Coin Name âŁď¸
𧲠(#Neo )
Reasonđđ
( Soon Going up 1min chart )
đ˛Bullish Scalping Target đđŻ
1- 14.81$đđŻ
2- 14.85$đđŻ
3- 14.89$đđŻ
4- 14.90$đđŻ
5- 14.93$đđŻ
6- 14.98$đđŻ
7- 15.10$đđŻ
đ˛Long Bullish Target đđŻ
âď¸âď¸âď¸17$$đđŻ
Folow Next Signal Coming if you Want Small ,Big, Long target Signal then dnt miss next post love for all free for all âĽď¸âĽď¸âĽď¸
More information check my Bio profile đźď¸
Do you Own Research (#Dyor )
#BTC #Xvg
$BTC $SOL $SOL
King Of Crypto #Bitcoin đŞđ&#cryptopredictor
đ Coin Name âŁď¸
𧲠(#Neo )
Reasonđđ
( Soon Going up 1min chart )
đ˛Bullish Scalping Target đđŻ
1- 14.81$đđŻ
2- 14.85$đđŻ
3- 14.89$đđŻ
4- 14.90$đđŻ
5- 14.93$đđŻ
6- 14.98$đđŻ
7- 15.10$đđŻ
đ˛Long Bullish Target đđŻ
âď¸âď¸âď¸17$$đđŻ
Folow Next Signal Coming if you Want Small ,Big, Long target Signal then dnt miss next post love for all free for all âĽď¸âĽď¸âĽď¸
More information check my Bio profile đźď¸
Do you Own Research (#Dyor )
#BTC #Xvg
$BTC $SOL $SOL
Unexpected exit from China's Ethereum!
Neo (NEO), described as China's Ethereum, showed itself by rising sharply after a long time.
(NEO), one of the legendary names of the past, returned to the field with its increase in the last 24 hours. The popular coin, which was worth 140 dollars at the time, fell out of favor with the arrival of the bear season and the failure to realize a mainnet. However, the volume and steady increase of BTC triggered the rise in NEO. The coin, which attracted great attention especially in China, increased by 7.99 percent in the last 24 hours and took the second place in the "Most Rising" list.Looking at the daily chart, NEO, which has been pricing in a downward direction since the beginning of June, broke this trend by taking advantage of the movement in BTC. The popular coin, which left the 6.40 â 6.84 levels behind with the trend break, gave its investors and ecosystem a little bit of a sigh of relief. As of the current situation, when NEO finds buyers at $8.44 and exceeds $8.67, its target levels will be $9.68 - 10.76 - 11.89 and $12.90.
falling to $30,000, BTC dominance gradually increasing, or $$$not being able to maintain $7.69 could lead to a sharp decline. In such a scenario, $6.84 and $6.40 should be followed as support. Failure of $6.40 to be held by buyers could lead to a short-term bottom price.
Neo (NEO), described as China's Ethereum, showed itself by rising sharply after a long time.
(NEO), one of the legendary names of the past, returned to the field with its increase in the last 24 hours. The popular coin, which was worth 140 dollars at the time, fell out of favor with the arrival of the bear season and the failure to realize a mainnet. However, the volume and steady increase of BTC triggered the rise in NEO. The coin, which attracted great attention especially in China, increased by 7.99 percent in the last 24 hours and took the second place in the "Most Rising" list.Looking at the daily chart, NEO, which has been pricing in a downward direction since the beginning of June, broke this trend by taking advantage of the movement in BTC. The popular coin, which left the 6.40 â 6.84 levels behind with the trend break, gave its investors and ecosystem a little bit of a sigh of relief. As of the current situation, when NEO finds buyers at $8.44 and exceeds $8.67, its target levels will be $9.68 - 10.76 - 11.89 and $12.90.
falling to $30,000, BTC dominance gradually increasing, or $$$not being able to maintain $7.69 could lead to a sharp decline. In such a scenario, $6.84 and $6.40 should be followed as support. Failure of $6.40 to be held by buyers could lead to a short-term bottom price.
#Neo unbelievable performance......
What a great move............
Keep eyes on it for entry on retest......
Disclaimer do your own analysis before taking any.....
#BullorBear #BinanceLaunchpool #Nonfarm #Memecoins
What a great move............
Keep eyes on it for entry on retest......
Disclaimer do your own analysis before taking any.....
#BullorBear #BinanceLaunchpool #Nonfarm #Memecoins
Senator Hagerty said that estimates of terrorist financing using cryptocurrencies from the WSJ publication are overstated by 99% đ
Changpeng Zhao's fortune decreased by 82% or $12 billion. These conclusions were reached by Bloomberg journalists based on the revision of the Binance assessment đą
The SEC is demanding a $770 million fine from Ripple to settle the lawsuit. Ripple is not yet in the mood to negotiate and the trial, at best, will end only in the summer of 2024 đ
Elon Musk wants to transform Twitter into an analogue of Chinese WeChat by the end of 2024. But not a word about DOGE đł
Curly Sam stated in court that he considers it legitimate to use FTX clients' funds to trade Alameda. It was written somewhere in the legal documents of the exchange, but he did not read them in detail and therefore does not remember exactly đ¤Śâď¸
đš Top 3 in 24 hours: $FLOKI $NEO
#FLOKI - $0.0000387 (â25.42%)
#Neo - $9.00 (â14.64%)
#Conflux - $0,1627 (â6,17%)
Changpeng Zhao's fortune decreased by 82% or $12 billion. These conclusions were reached by Bloomberg journalists based on the revision of the Binance assessment đą
The SEC is demanding a $770 million fine from Ripple to settle the lawsuit. Ripple is not yet in the mood to negotiate and the trial, at best, will end only in the summer of 2024 đ
Elon Musk wants to transform Twitter into an analogue of Chinese WeChat by the end of 2024. But not a word about DOGE đł
Curly Sam stated in court that he considers it legitimate to use FTX clients' funds to trade Alameda. It was written somewhere in the legal documents of the exchange, but he did not read them in detail and therefore does not remember exactly đ¤Śâď¸
đš Top 3 in 24 hours: $FLOKI $NEO
#FLOKI - $0.0000387 (â25.42%)
#Neo - $9.00 (â14.64%)
#Conflux - $0,1627 (â6,17%)
#write2earn Crypto Chronicles: #VeChain and #Neo Ride Hong Kong's Ambitions #MarketAnalysis #Altcoins $NEO $VET
Analysts have noticed a trend where China-related tokens like VeChain and Neo are being seen as stand-ins for Hong Kong's aspirations to establish itself as a premier crypto center in Asia.
This observation arises amidst speculation that regulators in Hong Kong might soon authorize spot ETFs (Exchange-Traded Funds) for Bitcoin and Ethereum. As anticipated, both tokens recorded significant gains over the week. However, they experienced some retracement from their weekly highs due to the broader market downturn.
Wintermute analysts assessed the situation regarding these alternative coins, stating:
"VeChain and Neo are being viewed as indicators of demand in Asia, particularly within retail and fast-moving investment circles. Neo, for instance, has earned the moniker 'China's Ethereum'."
Additionally, analysts pointed out that Hong Kong's endeavors to position itself as a cryptocurrency hub in the Eastern region likely bolstered Neo's robust performance and noticeable capital inflows into VeChain and Conflux:
"This selection of tokens garnered attention from numerous fast-paced investors around June 2023, coinciding with Hong Kong's initiation of individual crypto licensing. Many viewed them as indicative of flows from the Asia-Pacific region."
The upward trajectory of each token aligns with reports suggesting that Hong Kong regulators might greenlight spot ETFs tied to Bitcoin and Ethereum earlier in the week.
Analysts have noticed a trend where China-related tokens like VeChain and Neo are being seen as stand-ins for Hong Kong's aspirations to establish itself as a premier crypto center in Asia.
This observation arises amidst speculation that regulators in Hong Kong might soon authorize spot ETFs (Exchange-Traded Funds) for Bitcoin and Ethereum. As anticipated, both tokens recorded significant gains over the week. However, they experienced some retracement from their weekly highs due to the broader market downturn.
Wintermute analysts assessed the situation regarding these alternative coins, stating:
"VeChain and Neo are being viewed as indicators of demand in Asia, particularly within retail and fast-moving investment circles. Neo, for instance, has earned the moniker 'China's Ethereum'."
Additionally, analysts pointed out that Hong Kong's endeavors to position itself as a cryptocurrency hub in the Eastern region likely bolstered Neo's robust performance and noticeable capital inflows into VeChain and Conflux:
"This selection of tokens garnered attention from numerous fast-paced investors around June 2023, coinciding with Hong Kong's initiation of individual crypto licensing. Many viewed them as indicative of flows from the Asia-Pacific region."
The upward trajectory of each token aligns with reports suggesting that Hong Kong regulators might greenlight spot ETFs tied to Bitcoin and Ethereum earlier in the week.