This Week’s Cryptocurrency Trade is NEO which has a market cap of $1.5 billion and which is ranked number 64 on Coinmarketcap.
![](https://cryptoacademy.nl/wp-content/uploads/2022/04/neo-april-19-1024x575.png)
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.
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