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NEO Price Analysis 2019-20-25 — How Much Might NEO Cost?

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  • Denys Serhiichuk
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    One can make a profit on the crypto market not only with Bitcoin or Ethereum. There are many popular altcoins which are worth your attention. NEO – or “Chinese Ethereum” – is an example of such cryptocurrency. This article will help you to understand the future plans of the team regarding the development of this asset and predict its rate within the next years.

NEO Price Analysis 2019-20-25 — How Much Might NEO Cost?
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Today's cryptocurrency market is filled with various projects. It is difficult to find a coin suitable for investment. NEO cryptocurrency is just one of the few crypto-projects that have prospects for further growth and increase in the size of its capitalization. By the end of 2019, this digital asset is able to enter the top 5 coins.

NEO logo
Image by pexels

A bit of history

NEO was officially released on the market in mid-October 2016. Initially, this project was called Antshares, but later it underwent a rebranding, receiving the current name.

The creator of the coin NEO is the Chinese company Onchain, which is engaged in the creation of new technical solutions based on blockchain technology. The development team consists of 15 people. Most of this team is focused on developing and improving the cryptocurrency marketing strategy. For this reason, the project demonstrates good growth and user expansion.

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Advantages

While analyzing NEO, it is impossible not to mention a number of its inherent advantages distinguishing this coin from other similar digital assets.

The advantages of the cryptocurrency NEO include the following features:

  • Use of a unique proprietary virtual machine.

  • Full implementation of the quick launch of smart-contracts to conduct secure transactions.

  • High-performance throughput of the crypto network.

  • Using the enhanced dBFT software protocol ensures a high level of reliability and stability.

  • A simplified system of drafting smart-contracts.

  • No commission fees. When conducting transactions, user fees are charged in the form of GAS.

  • NEO mining occurs in a passive way, so it does not depend on the technical capacity of the miner's equipment. The extraction of the crypto is carried out automatically, so there is no sense in mining this asset within the cryptocurrency pool.

The listed advantages of the project will help it to maintain a high rate of development and expansion of the user audience. If its creators take further steps to introduce a more advanced marketing program, NEO is expected to succeed and become one of the largest digital cryptocurrency assets soon.

Disadvantages

Like any other coin, NEO has some cons.

The main negative aspects of this currency are not its technical problems, but organizational ones. Therefore, the disadvantages of NEO include:

  • Inadequate implementation of crypto network decentralization. At its core, NEO operates on the basis of a private blockchain, because the entire crypto network is under the complete control of the Onchain company.

  • Lack of complete anonymity. Despite the efforts made by the creators of the coin, they still failed to implement advanced software mechanisms that ensure absolute confidentiality of users and transactions.

The cons are related to the fact that the creators of cryptocurrency initially aimed at working closely with representatives of the official government of China. For this reason, it is difficult to talk about the possibility of the future implementation of full decentralization and the introduction of more advanced solutions that ensure anonymity within the crypto network.

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Rate fluctuations

After the rebranding, the cryptocurrency showed a sharp exchange rate jump, which allowed it to attract the attention of many market players and investors.

The rate quotes for the entire time of this crypto have repeatedly changed from zero to a maximum value of $48 for one coin.

The maximum NEO rate was reached on both January 15 and 30, 2018, and amounted to $162.

NEO chart
Image by Coinmarketcap

At the end of November 2018, the NEO rate dropped to $7, but now it is beginning to grow and fluctuates around $9, which is a great result for such a young project.

NEO Price Prediction 2019

According to analysts of the cryptocurrency market, the prospects for NEO cryptocurrency in 2019 are promising. This is not surprising, because the coin shows steady indicators of exchange rate growth and an increase in the number of active users.

Inside the crypto community, many experts have long called NEO the Chinese equivalent of Ethereum. Such a comparison is true because these two currencies provide users with similar functionality, as well as a high level of security of transactions.

One of the factors ensuring the success of this project is its focus on the Chinese market, which is the largest in the world. In this case, it is worth mentioning the beginning of the collaboration of NEO founders with the Chinese government, who are ready to support financially all the undertakings of the project if the developers comply with requirements of the country.

At the moment, NEO is among the top twenty cryptocurrency leaders and demonstrates a fairly good price increase per coin. The range of fluctuations, as with any cryptocurrency, is quite wide, but overall, the NEO rate is around $7-9 per 1 token. The average level in the current year is supposed to reach 20-30 dollars. However, there is no single opinion among experts. In general, for 2019, growth is expected to reach $100 and above.

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NEO Price Prediction 2020 and beyond

As with any cryptocurrency, it is quite difficult to predict anything for NEO. The platform remained stable, despite a number of troubles that plagued it, but at the same time, its rate dropped 4 times in 2018 (although the rate of the well-known Bitcoin also changed significantly from almost $20,000 to the current value of $4,000).

Some experts are very optimistic about NEO and predict its growth to get to $200 or even $300.

Is it worth buying NEO now?

Before investing in a crypto asset, it is important to familiarize yourself with its structure, as well as to find out who is behind it. Of course, if a project was developed by a serious company with many investors, then it will be more credible. If we talk specifically about NEO, then it belongs to the category of serious currencies, because its development is supported by the leadership of China. In addition, the developers of this currency have entered into formal cooperation agreements with companies such as Microsoft and Alibaba.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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Mining Tech Giant Canaan Inc. Fails to Raise 25% of Initial IPO

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  • Vladislav Sopov
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    The much-anticipated IPO for the mining manufacturer raises only $90 million. A month ago, Canaan planned to raise as much as $400M.

Mining Tech Giant Canaan Inc. Fails to Raise 25% of Initial IPO
Cover image via 123rf.com
Contents

The long-anticipated initial public offering (IPO) for the Bitcoin (BTC) mining manufacturer Canaan Inc. ended with raising a mediocre $90 million in capital. This cap is 10% smaller than what was anticipated, and 77.5% smaller compared to the figures of the initial IPO cap.

Brilliant Run-Up, Poor Results

Yesterday, the Hangzhou-based company sold 10 million shares within the framework of its public offering at $9 each. Citigroup, China Renaissance Holdings, and CMB International Capital were among the managers of this offering. Prior to filing with the U.S. Securities and Exchange Commission (SEC), the company planned to raise approximately $100 million. These shares would available for trading next Thursday on the NASDAQ under the ticker name "CAN".

The initial plans have been even more fascinating. In October, Canaan filed to be listed in Hong Kong, but the financial watchdogs of the city's stock exchange declared the listing of crypto-related companies as "premature" for Asian financial hub. At that time, a cap of $400 million was scheduled. 

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The former lead underwriter, Credit Suisse, had also left the company prior to the IPO. Blockchain-related IPOs are a difficult pursuit as two moguls of the market, Bitmain and Coinshares, struggled with regulators and delayed their listings.

Mining Producer is in Dire Straits. Can an IPO Help?

Canaan Inc. is the second largest BTC mining manufacturer in the world. During the first half of 2019, its market share was estimated at 21.9% of ASIC hash power sold. The largest company, Bitmain, was responsible for 65.2% of hash power sold during that time.

Despite these facts, the company has shown huge losses. Its cash flows have been negative since 2018. According to their filing, Canaan had a net loss of $48.2 million during the first half of 2019.

The company had planned to expand the development of AI-applications for ASICs, but given the current situation, the capital raised from the IPO could only cover one year of losses.

Will this IPO save Canaan Inc.? If BTC price falls, halving is right around the corner. How will this affect the mining equipment market? Share your thoughts on Twitter.

 

 

 

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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