In the crypto market, new projects appear every day. On average, only one project out of ten becomes a complete working ecosystem, and only a few of those have an application to the problems of the modern world. One successful start-up is NEO, open-source crypto with the extended functionality to develop smart contracts and decentralized applications (dApps).
According to NEOSCAN, there are 2,940,701 NEO addresses. This looks impressive considering the project’s long existence although the usable amount of NEO is not specified (and some users may have more than one address).
Neo (NEO) might not be one of the biggest names in the business, but it’s reputedly China’s first open-source blockchain — and is often referred to as ‘the Chinese Ethereum’. Erik Zhang, one of the co-founders, is the inventor of the ‘Delegated Byzantine Fault Tolerance‘ consensus mechanism, making NEO the first crypto to use this algorithm.
Investors are bullish about NEO. Could Neo’s prospects really be so good? Let’s find out by this in-depth NEO price prediction.
Today’s live Neo price today is $8.48 with a 24-hour trading volume of $37,234,978. Neo is up 1.33% in the last 24 hours. The current CoinMarketCap ranking is #67, with a live market cap of $597,892,141. It has a circulating supply of 70,538,831 NEO coins and a max. supply of 100,000,000 NEO coins
Also Read:
How to Buy NEO in a Few Simple Steps
NEO Price Overview
Given China’s government’s limits on cryptocurrency transactions, NEO has the potential to become the cryptocurrency of choice in the severely restricted country, and maybe the whole world. NEO’s Onchain technology has been intended from the start to be regulator-friendly, with a centralized approach that is unlike that of other cryptocurrencies.
This might enable it to survive and expand even in China, where government officials are becoming cautious of the bitcoin industry. The government is concerned about cryptocurrency speculation’s financial concerns. Furthermore, its massive cryptocurrency mining activities have depleted the nation’s electrical supply to the point that they are jeopardizing the country’s environmental goals.
What Is NEO?
NEO, in short, is a blockchain project from China founded in 2014. It used to be called Antshares, but this changed later. NEO cryptocurrency is also called the Chinese Ethereum because they are strongly committed to creating a smart economy and receiving huge Chinese government support. This means that the project developers want to make it easy to use smart contracts on the NEO network.
For investors to use the NEO platform, the second crypto is used – namely, GAS. This can be considered the fuel of NEO. One share of the NEO token is also seen as one share in the network, and the GAS crypto is used to make transactions on this network.
It is possible to earn GAS with your NEO coin by saving your NEO coin in official wallets. This is due to the proof of stake principle. You deposit your NEO coin in your wallet and receive a portion of the GAS spent on the network in proportion to the amount of NEO coin you own. It is thus possible to generate some passive income for yourself.
You can imagine that when the NEO price or the GAS price rises, you will benefit from the price difference on your NEO but also that of your obtained extra GAS.
This is one of the reasons investors invest or have invested a lot in NEO crypto in the past. Over the years, as with any project, a lot has happened with the NEO price action. We should add that it’s impossible to mine this virtual currency because they were all distributed during the ICO.
NEO 3.0
The NEO team was working on the project for three years. The Cryptocurrency market has been waiting for the NEO 3.0 release since the end of 2020. The launch was postponed several times. However, in March 2021, Neo started rolling out an N3 version of its public blockchain technology.
NEO tries to create its own digital identity by attracting developers to create decentralized applications on the blockchain platform. The improved consensus protocol can be used worldwide. The upgrade of the system occurs when the Ethereum network (a major competitor of NEO) is suffering capacity problems. Moreover, China, famous for its strict crypto regulation, claimed blockchain as a strategically leading technology.
NEO 3.0 will raise transaction speed from 1,000/second to 5,000/second and cut “gas fees” 100 times. The fee reduction is a core point in competition with ETH, which has too high fees.
The upgrade will include a decentralized file storage solution and a new governance mechanism. Under the new governance, NEO holders will vote in a NEO Council, which includes 21 members. The Council will control the management of fees, network upgrades, and other operation-based cases.
Poly Network, a consortium interoperability protocol, is used to facilitate NEO token migration to the new network. The migration with Poly Network will show whether the network works well to create a blockchain from scratch and transfer all the data from the existing chain without errors.
Here are some of the major elements of the NEO 3.0 network that are supposed to attract developers to the system: multi-language support, native oracles that secure access to any off-chain data, advanced interoperability, decentralized storage, and self-sovereign identity, best-in-class tooling, and a dual-token model.
Sometimes people include NEO in the list of Ethereum Killers. Both systems provide similar features for the market, but NEO has more advanced technology and surpasses ETH in various aspects.
The platform uses its own virtual machine NeoVM, allowing you to run even the most complex contracts quickly. The theoretical network capacity is 10,000 transactions per second.
At the moment, the speed does not exceed 1000 tps. NEO implements an advanced dBFT protocol that effectively protects the system from most known cyberattack methods. Unlike Ethereum, which uses the extremely sophisticated programming language, Solidity, NEO supports Java, C#, Kotlin, GO, and Python.
In the middle of April 2021, after NEO 3.0 started rolling out, the NEO/USD pair managed to hit $130. It’s a significant rise from 0.0320 USD during the ICO in August 2017. Analysts and crypto enthusiasts believe that it’s not the limit and that further development will lead to higher prices.
NEO Price History
Before the rebranding in 2017, NEO was previously called Antshares. When the company finished rebranding and became NEO, the coin’s price increased from $1 to $7. The crypto community started actively buying NEO when it learned about the coin. In August, the coin reached $40, and the market capitalization of NEO was $2 bln.
For several months, NEO was traded between $20 and $40; then, in December 2017, it started growing rapidly and nearly all the other digital assets on the market. Beyond benefitting from the overall influx of buyers into the market at that time, the growth of NEO was boosted by it getting listed on Bithumb, the largest active crypto exchange at the time. As a result, in mid-January, the coin reached its ATH – $196.
When the market turned bearish, NEO started going down. In March 2018, the digital coin cost about $52, but it returned to $76 before falling back again to $40. April was the last month when NEO showed solid growth and reached $83. After that, the coin started gradually falling, and by the end of 2018, NEO’s rate was $7.
In April 2019, when Bitcoin started growing again, NEO jumped from $9 to $12. Besides, NEO upgraded its algorithm to improve transaction speed and stability of the network. However, the update didn’t have a significant effect on the market price of the coin. By the end of June, the coin reached $20 and then dropped to its price of $8.
In September 2019, NEO presented three new products: NEO ONE Developer Framework, NeoFS Distributed File System, and NEO Blockchain Toolkit. All these tools will be used in the new NEO 3.0. After the announcement, the coin price gradually grew to $10 and, in November, fell back to $8. For the next seven months, the coin price has been fluctuating from $6 to $14.
As you see from the historical chart above, the NEO price breaks through the local highs, and the candlesticks’ lows are rising. There is a clear bullish trend. Blue dots mark the peaks of trading volumes in 2019 and 2020. Opposite, there are Japanese candlesticks, which we should analyze to identify closing levels, lows, and highs. These figures will define the key support and resistance level.
In July 2019. The NEO price is trading in the uptrend as indicated with the red candlestick, which indicates a bearish price movement. The candlestick is close and low.
The trading volume formed in September 2020 was high at 25.62 and broke the current January candlestick, but the price failed to consolidate above.
The most recent January candlestick is green; its body covers the candlestick bodies over the previous four months. Therefore, the NEO bullish momentum is likely to continue.
The NEO price at the start of this month has been ranging from around $30 to $50 and seems to have acquired bullish potential.
Neo Technical Analysis
NEO price analysis has revealed the cryptocurrency market to show strong bullish momentum with strong conservation possibilities as the price moves steadily upwards. For example, the NEO/USD price recently spiked to a considerable incline on July 3, 2022, and The price went from $8.06 to $8.38 in no time. As a result, the next day, the price continued to an upwards trend, rising to $8.52 and continuing an upward movement today on July 4, 2022.
NEO price analysis reveals the market’s volatility to be following a decreasing trend, meaning that the price of NEO/USD is becoming less prone to experience variable change. The upper limit of the Bollinger’s band is present at $10.03, which serves as a resistance point for NEO. Conversely, the lower limit of the Bollinger’s band is present at $7.94, which serves as another support point for NEO.
The NEO/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish movement. The market trend has recently entered bearish territory in the last couple of hours. Since the market volatility appears to be following a downward direction, the trend will likely have less room to move towards either extreme. It seems the bearish era might stay for a long time.
The Relative Strength Index (RSI) is 37, signifying a stable value for NEO. Unfortunately, this means that the cryptocurrency falls in the undervalued region. However, the RSI path can be seen following an upwards movement indicating that the cryptocurrency will experience increased value and may soon enter the stable category, which will result in complete stability for the cryptocurrency.
The conclusion of the NEO price analysis shows that the recognition made of the current behavior of the cryptocurrency indicates that it is following a strong upward trend with the possibility of maintaining its energy and keeping the market. NEO/USD climbed with fatigue at the $8.5 mark; the price reached $8.46 on July 4, 2022, which is also the current price of Neo. The market shows vital signs of a bearish period for the time being.
NEO Price Predictions by Authority Sites
Wallet Investor
Long-term growth is anticipated based on their prognosis for the NEO coin price prediction; the price target for 2027 is $129.502. The revenue is anticipated to be roughly +538.57% with a 5-year investment.
Coin Switch
In the last year, NEO rose to become one of the largest crypto assets, and it presently rules the real world. This performance may continue for the next five years. By 2025, the Neo forecast suggests that NEO tokens might reach a future price of $533, according to Coinswitch’s NEO coin price projection.
Trading Beasts
By the start of 2025, the coin’s price is anticipated to reach $50, according to the NEO projection. The projected lowest price for 2025 is $36 and the expected highest price is $53.62, according to the NEO price forecast. By the end of 2022, the NEO price is expected to be about $18.85.
Cryptopolitan
Neo Price Prediction 2022
Neo’s price is anticipated to have a minimum price value of $12.36 in 2022. With an average forecast price of $12.86, the NEO price may go as high as $14.22.
Neo Price Prediction 2023
The minimum forecasted NEO price is $17.28 in 2023. With an average price of $17.80 during 2023, the Neo price can go as high as $21.46.
Neo Price Prediction 2024
Neo’s price is anticipated to fall to a minimum of $25.47 in 2024. With an average selling price of $26.36, the NEO price may go as high as $29.52.
Neo Price Prediction 2025
In 2025, the cost of 1 Neo is predicted to be at least $36.51. With an average price of $37.57 in 2025, the NEO price can go as high as $44.05.
Neo Price Prediction 2026
The predicted low point for the price of Neo is $53.08 in 2026. Our research indicates that the NEO price might rise as high as $61.70, with an average projected price of $54.59.
Neo Price Prediction 2027
Neo’s pricing is anticipated to range between a minimum of $78.13 in 2027. The maximum Neo price is $92.67, with an average trading value of $80.86 USD.
Neo Price Prediction 2028
Neo’s price is expected to drop to a minimum of $114.26 in 2028. With an average selling price of $117.50 until 2028, the Neo price might go as high as $136.67.
Neo Price Prediction 2029
Neo’s price is anticipated to drop to a minimum of $159.93 in 2029. The NEO price ranges from an average of $165.80 to a maximum price of $198.49.
Neo Price Prediction 2030
Neo’s price is anticipated to fall to a minimum of $219.00 in 2030. With an average trading price of $227.29 during the course of 2030, the Neo price might go as high as $277.37.
Neo Price Prediction 2031
In 2031, the price of Neo is anticipated to go as low as $305.47. According to our research, the NEO price might rise as high as $376.02, with an average predicted price of $314.56.
Conclusion
Rich scientific geniuses who have spent years researching and developing blockchain have created NEO as a byproduct of their labor. NEO is poised to make a significant difference in the cryptocurrency industry as a viable investment choice because of its well-considered road plan and goal. NEO will surpass all price ceilings and continue to be a popular token on the cryptocurrency exchange.
This makes a long-term investment in NEO profitable. There are several NEO price forecasts, but which one should you believe? It is preferable to estimate the potential of NEO on your own. You do not need to blindly follow every forecast because this frequently leads to conjecture, as it is always advised to do your own research and seek investment advice
According to algorithmic averages and expert predictions, the price of one NEO currency will breach $100 in 2028, nearly ten times more than the present price. As a result, NEO is a long-term investment that pays out. According to our research, in 2031, the NEO price might rise as high as $376.02, with an average predicted price of $314.56.
Given this, investors should consult a financial professional before making any investment decisions. Above all, never put more money into something than you can afford to lose. The bitcoin exchange market is in danger of collapsing at any time.
Predicting the future of any cryptocurrency is never easy, as you can undoubtedly guess. Many factors influence whether the price rises or falls. NEO has a number of technological advantages over Ethereum, which gives it a bright future.