Neo Price - NEO Price Index & Live Chart
NEO was originally launched under the branding of Antshares and has since become a major blockchain application platform. Since rebranding in 2017, NEO has worked towards the aim of realising a smart economy, by using blockchain technology and smart contracts in the issuance and management of digitised assets. The currency of the network is also known as NEO.
NEO uses a Proof of Stake system, and 15 million NEO tokens are issued on an annual basis. The project is overseen by the NEO development team, which has set the goal of allowing developers to efficiently deploy and scale smart contract applications on the NEO blockchain.
NEO has become very successful in a short period of time, so in this article, we’re going to examine issues related to NEO pricing.
Key NEO Price Metrics
NEO Price Graph & Exchange Rate
NEO Price History
In common with many other cryptocurrencies, NEO experienced a rapid increase in value in the early weeks of 2018 reaching its peak value up to this point. After peaking at nearly $200, NEO corrected but has but managed to surge to a peak above $120 in May 2021.
3 Key Instances for the Evolution of NEO Price
NEO was officially rebranded from Antshares in June 2017, with the intention of moving forward with a new ethos, while still keeping its past approach as part of the mix. The vision of building a “smart economy” was developed along with the rebranding, and NEO began to gain recognition and attention rapidly after this rebranding exercise.
In 2018, the NEO Council was reorganised into the NEO Foundation, and two operational units funded by the NEO Foundation: NEO Global Development and NEO Global Capital. This has remained the operational structure of the NEO project ever since.
NEO has demonstrated a commitment to a global strategy, and in April 2018, the first NEO office was initiated in Shanghai. A year later, NEO announced a second base in Seattle and plans to expand further still in the foreseeable future.
Key News for NEO Price
There are many factors that have impacted the price of NEO during its existence, but there is no doubt that the Covid pandemic will be the major issue going forward. While this health crisis has generally been bullish for cryptocurrencies, which are viewed as an alternative store of value in uncertain times, the economic reorganisation of the planet will definitely lead to uncertainty.
It is difficult to predict the future direction of NEO on this basis, as countries all over the world attempt to return to normal following lockdowns. But many investors have sought to invest in cryptos such as NEO in what has been a highly volatile and unpredictable market.
Another issue that will impact the price of NEO is the launch of its DeFi protocol, Flamingo Finance. This is expected to improve the trading volume of the token.
NEO Price Technical Analysis: How to Identify Good Entry/Exit Points when Trading
Technical analysis is always valuable in NEO trading, as this helps to craft a suitable entry and exit strategy. Technical analysis involves generating trading signals, by creating market patterns, which then inform traders going forward.
For example, you may choose to enter a long position in a particular asset such as NEO when its price hits what you have deemed to be a strong support level. Patterns created in technical analysis can help inform investors what is likely to happen next in the market. Traders often use the Fibonacci indicator, pivot points and various other mathematical based indicators in this process.
Have a Clear Goal
One of the most important aspects of NEO trading is to have a clear goal before you begin. By keeping this ethos in mind at all times, investors make it easier to time entry and exit from the market. There are established techniques that can be used in order to help you control trading, and enter the market more methodically.
If you remember why you entered the NEO marketplace, and what you were hoping to achieve by doing so, it is more likely that you will craft an appropriate exit strategy. It's also important to use proper risk management on all of your trades, as is implemented by all of the top investors.
Make Use of Analysis Tools
There are a wealth of analysis tools available to NEO investors, but laddering is unquestionably one of the most valuable. Laddering makes it possible to eliminate risk from some of the entry decisions associated with NEO and other cryptocurrencies.
Catching the top and bottom of any market is tricky, so entering and exiting the position gradually, with a series of small trades, helps to mitigate against risk. This is the concept of laddering in action.
Volume indicators also provide valuable insight into market behaviour. When there is a sudden increase in the volume of trading, this indicates that the market is about to enter a new cycle. Smart investors use this information to predict whether the market will go up or down.
Cryptocurrency investors can also use chart analysis in order to gain an advantage over the market. Using stock charts constructively can help you understand the current trends and future direction of a commodity or market. Valuable information, such as price and volume, moving average lines, and relative strength index is included in stock charts and making the most of this can be critical in achieving investment success.
Fundamental and Sentimental Analysis
Another aspect of trading that can be valuable to cryptocurrency advocates is fundamental and sentimental analysis. These two forms of technical analysis are used by investors to better understand markets in which they're interested.
Fundamental analysis involves, as its name suggests, digging into the fundamentals of a particular asset class or equity. Investors engaging in the fundamental analysis will conduct in-depth research on a cryptocurrency such as NEO, in order to determine whether it is undervalued or overvalued in the market. Fundamental analysis involves digging deep into the most important aspects of a particular trade.
Conversely, sentiment analysis requires trainers to examine market behaviour and the trading behaviour and biases of active investors. This helps engage the current sentiment of the market and enables traders to use this as a valuable trading instrument. Sentimental analysis can be extremely valuable in timing entry and exit points from the NEO market.
Frequently Asked Questions
GAS is a secondary token on the NEO ecosystem, which is used by participants to pay for transaction fees for more complex activities. It is also used to deploy and run smart contracts on the NEO blockchain.
This isn't possible currently, but the developers of NEO have stated that it is a goal of the project and that the team will inform users of NEO when it becomes active.
All airdrops sent to any NEO address will still be stored on the blockchain, but Exodus will not be able to display them inside the wallet. Users wishing to access these will instead require an advanced wallet.