This Week’s Cryptocurrency Trade is NEO which has a market cap of $1.5 billion and which is ranked number 64 on Coinmarketcap.
For our Crypto X10 Challenge and other crypto portfolios, we have had this coin in our portfolio for quite some time.
NEO, also referred to as “China’s Ethereum” is a self-proclaimed “rapidly growing and evolving” ecosystem that aims to become the foundation for the next generation of the Internet – a new economy where digitized payments, identities and assets converge.
Initially, this project was launched as Antshares in February 2014. Subsequently, this open-source platform was renamed NEO in 2017.
Chart wise: NEO experienced a steep decline from its peak around $140 in May last year, reaching a provisional low of just under $16 (only) in January this year. From this low, the price recovered. We are taking the opportunity of the current relatively low price to pick up NEO at the moment at a price of $22. Target 1 is $30 for the short term and target 2 is $54 or the level of November last year.