The NEO cryptocurrency, often dubbed "China's Ethereum," continues to be a topic of interest for investors and blockchain enthusiasts. This article provides a detailed analysis of its current market performance, historical data, and essential statistics.
Current NEO Price and Performance
As of the latest data, NEO is trading at $5.72. The price has increased by 8.35% over the past 24 hours, with an hourly change of 0.91%. Over the last seven days, NEO has seen a positive movement of 3.96%, though it has declined by 4.07% in the past month.
The 24-hour trading volume stands at $25,296,251, indicating active market participation. During this period, the price fluctuated between a low of $5.21 and a high of $5.72.
Market Capitalization and Ranking
NEO currently holds the #187 position in market capitalization rankings. Its market cap is $403,426,010, reflecting an 8.26% change. The fully diluted valuation is estimated at $571,992,075.
Supply Metrics
The circulating supply of NEO is 70,530,000 tokens, with a total supply capped at 100,000,000. There is no defined maximum supply for this digital asset.
Historical Price Data
NEO reached its all-time high of $198.38 on January 15, 2018, which represents a -97.12% change from the current price. Conversely, the all-time low was $0.078349 on October 21, 2016, marking a 7198.34% increase since that time.
Over the past year, NEO has decreased by -50.02%, while the 200-day performance shows a -68.02% change.
Recent Developments and News
The NEO ecosystem continues to evolve through strategic partnerships and technological advancements. Recently, Web3 security platform GoPlus partnered with Neo's EVM-compatible sidechain, Neo X, to enhance node-level security. This integration makes Neo X the first blockchain to utilize GoPlus' Security Module, providing an additional layer of protection for users.
In other news, cybersecurity researchers identified a new malware called "Styx Stealer" that targets Windows computers to hijack cryptocurrency transactions. This development highlights the ongoing importance of security measures in the digital asset space.
NEO has also demonstrated significant price movements at various points throughout 2024, including a 33% surge in April that made it one of the top gainers in the crypto market.
Technical Analysis and Trading Considerations
When analyzing NEO's price movements, traders typically monitor key support and resistance levels. The recent trading range between $5.21 and $5.72 provides important reference points for short-term trading strategies.
Volume analysis indicates sustained interest in the asset, though the relatively low market rank suggests that NEO faces significant competition from other smart contract platforms.
Investment Perspective
For long-term investors, understanding NEO's fundamental technology and ecosystem development is crucial. The platform's focus on digital assets, digital identity, and smart contracts continues to drive its development roadmap.
While past performance shows significant volatility, the project's ongoing partnerships and technical improvements may influence future price action. 👉 Explore more strategies for cryptocurrency investment
Frequently Asked Questions
What is NEO cryptocurrency?
NEO is a blockchain platform and cryptocurrency that aims to build a scalable network of decentralized applications. It supports multiple programming languages and focuses on regulatory compliance through digital identity features.
How does NEO differ from Ethereum?
While both platforms support smart contracts and dApps, NEO utilizes a different consensus mechanism called Delegated Byzantine Fault Tolerance (dBFT). It also supports multiple programming languages unlike Ethereum's Solidity-specific approach.
What factors influence NEO's price?
NEO's price is affected by overall cryptocurrency market trends, platform development updates, regulatory developments in China and globally, and broader adoption of its blockchain technology.
Where can I securely store NEO tokens?
NEO tokens can be stored in official NEON wallets, hardware wallets like Ledger, and several supported software wallets that provide compatibility with NEP-5 tokens.
What is the current supply distribution of NEO?
The circulating supply represents approximately 70.5% of the total 100 million NEO tokens. The remaining tokens are likely allocated for development, ecosystem growth, and other operational purposes.
How often are NEO's price metrics updated?
The price and market statistics for NEO are typically updated every minute across major tracking platforms, ensuring real-time accuracy for traders and investors.