On Tuesday, NEO hit a new all-time high. This cryptocurrency surged past the $120 mark – even though it was brief. In the past day and a half, its price has retreated back to $110.66. Even so, this particular coin has experienced a stunning amount of growth. And, by the looks of it, this cryptocurrency is positioned to continue on its upward trajectory.
NEO’s short surge is a big occasion, especially since it was trading under $30 in October. This digital coin is frequently thought of as the “Ethereum of China.” That’s because it features smart contract technology and supports other cryptocurrencies on top of its blockchain, like Ethereum does.
And, like Ethereum, this coin has had a spectacular month of growth. In the past week, it has grown just 14 percent in value. But looking back 30 days, it has surged about 200% higher – just take a look:
NEO was launched back in 2016, when the tokens first became available. Since then, it’s not only its price that’s been climbing rapidly – its place on the cryptocurrency rankings is also soaring. Its total market value is $7.2 billion at the time of writing. That means that it is the 11th most valuable cryptocurrency worldwide!
We have reason to believe that it can climb higher than number 11, too. This coin is set to take off, and here’s why.
NEO Is Now Featured on ShapeShift – A Popular Cryptocurrency Exchange
Last week, it was announced that ShapeShift added NEO. Now, the token is tradeable on one of the most popular platforms. That means that it will be reaching a much wider available audience. ShapeShift offers a ton of crypto coin options, and now this one can be traded among them all.
“NEO has emerged as a leader in China’s blockchain community and a strong player in the realization of the smart economy,” said the CEO of ShapeShift, Erik Voorhees, in the exchange’s press release. “We’re happy this partnership has come to fruition.”
The addition to ShapeShift may be what has driven NEO’s price so wildly high over the past week. But another big media draw has also hit this cryptocurrency: its founder.
The Founder of NEO, Da Hongfei, Is Getting Some Positive Media Attention
NEO’s founder, Da Hongfei, just appeared on Bloomberg Daybreak: Asia – and his interview has been making some medium-size waves in the cryptocurrency news cycle. In fact, he made some controversial comments that had even his fans on Twitter a little peeved.
— NEO News (@NEOnewstoday) January 11, 2018
In particular, Hongfei’s ideas about the “bitcoin bubble” made headlines. He said live on air that he does, in fact, believe that a crash is possible. And that’s not limited to just Bitcoin (BTC) – he thinks the whole crypto market may end up crashing.
“I have been in this market for more than six years, so we’ve seen lot of crashes,” Honfei said. “It’s normal and every time after the crash if a project, a team is really focused on technology, they will recover.”
He also got a lot of people on Twitter heated when he made a point about regulation. If you want to get cryptocurrency super fans annoyed, just talk about further banking and government integration into the crypto world.
Da Hongfei told Bloomberg that he thinks “regulation is okay to us.” He noted that the market has been on fire in the past six months or so. At this point, he believes it’s time for “regulators to step in to regulate the industry.”
Regardless of whether or not his ideas being made public on TV fired up NEO investors, his appearance will be a boon for the brand. Being on Bloomberg only adds another layer of legitimacy to this rising altcoin. When the mainstream media elevates him, NEO holders win.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.