It’s not a secret that the whole cryptocurrency market is going through a hard time as of the moment. Almost all of the prices are going down the hill while crypto investors and users watch closely, and try to understand what’s the best action to take. This issue has affected each and every one of the cryptocurrencies in the market, a fact of which, of course, NEO is not an exception.
The coin was launched 4 years ago, and ever since it has offered amazing solutions that have granted the company with the current eleventh position in the market. However, in the last days, it has been dropping its prices, trading at the time at a price of 52.97 against the US dollar, a figure that according to coinmarketcap.com represents 11 percent decrease in last seven days.
But would this mean the coin is not worthy of attention? Well, we have reasons to believe the currency is destined to greatness despite its latest behaviors. Here we tell you why!
Usability of the NEO blockchain
We witnessed how the NEO blockchain has gained a lot of traction, even getting to compete with some of the most used protocols such as the ERC-20 token based on Ethereum.
Developers of the company introduced the NEP-5 token, a protocol very similar to the one provided by Ethereum, but proven to be even more functional, a fact that has granted the company with a lot of usabilities.
One of the reasons why NEO is destined to greatness has undoubtedly to do with the amazing features the company has introduced on its fully-decentralized exchange, Switcheo. As the same company establishes on the website of the exchange is the “World’s First Multi-Chain Decentralised” platform for cryptocurrencies.
It provides, live trading and withdrawals operations, and at the same time allows users to trade with meager fees and withdraw money completely free.
Neo has recently developed a substantial and vital partnership with the Ontology foundation. Both organizations decided to create a task force in which the primary targets are to build up API standardizations, and a shared smart contract ecosystem.
The project was initiated with a fund consisting of 4 million CNY that both companies have collected together. In addition, members of both organizations will collaborate to deploy the project – and three individuals of the community have been already confirmed, Weng Junjie Weng, Yuan Tan, and Peter Lin.
Furthermore, NEO was recently ranked as the number 4 regarding usability and appropriateness when it comes to supporting applications of the real life; the Chinese ministry of information made the judgment.
Besides that, the company looks string as well with the NEO Name Service (NNS), an initiative created to help the industry in the elaboration of names in the blockchain.
NEO is a strong cryptocurrency that currently appears listed in the market in the number 11th position. The value of the coin is $52.97 at present, and according to coinmarketcap.com, it has grown by 1.03 percent in the last 24 hours.
Despite the bearish behavior the coin has shown in the previous days, we are sure this is a crypto to look at in the long term; so don’t be that worried about the drops of the prices, it surely will find a way to climb up once more.