Cryptocurrencies like Bitcoin, Ethereum, and Stellar are all over the cryptocurrency market, trying to entice investors with the promise of profit. Even with all of these new digital assets, there was still the issue of their lack of accessibility, transparency, and exorbitant transaction fees.
Algorithms and science-backed cryptocurrencies appear to rule the blockchain world with the rise of decentralized finance (DeFi) in recent years. Let’s have a look at some of the distinctive qualities of Neo before we get into the price prediction for the cryptocurrency.
ANT was first introduced to the world in 2014 by China’s first cryptocurrency, NEO, and was renamed in 2017. With this Proof of Stake/smart contract protocol, Da HongFei and Erik Zhang’s blockchain platform is transformed into a “Smart Economy” by using blockchain technology and smart contracts to issue and manage digitised assets in the existing world economy.
Last year, NEO received contradictory reports. The crypto market failed to mount a late surge, and the price of this coin failed to rise above $30 by the end of 2019. When Neo first went public in January, it was trading at roughly $7 per coin. Over the next months, its price would rise significantly, reaching a high of $20 by July. However, this is the best the currency can hope for.
Latest Updates: Neo 3.0
N3, the latest version of Neo’s public blockchain, has been made available to the public. When Ethereum is battling for a breather, it couldn’t have come at a better time. From 1000 TPS to 5000 TPS on the network, NEO’s position on the platform will increase transaction speeds by 100 times. Oracle integration and a decentralised file storage solution are also part of this iteration of the NEO network.
NEO Price Prediction 2022
Following its high of $140, NEO experienced a significant decline in the last year and plummeted below its support level of $25 in July. However, after hitting $66 it couldn’t hold on to its gains for long and reported bearishness through to the end of the week. The price of the coin began to rebound once it breached a support level of $16. Overall, the NEO price forecast for 2022 is optimistic.
NEO’s price is likely to rise sharply in the near future if it follows the NEO/USD price pattern. To put things in perspective, the rise of NEO’s price to $30 in 2022 in the short-term reflects a good trend among the Pandemic scenario’s fading. Additionally, a number of forecasters believe that the NEO projection for 2022 is optimistic.
Conclusion: Final Thoughts
For as long as the NEO token was able to hold its value, it was able to keep its place among the top 20 cryptocurrencies. The continuous NEO 3.0 updates are helping the platform solve some of its most serious problems, which is wonderful news for the value of NEO’s currency.
It would be advisable for any investor to add some NEO to their portfolio to guarantee that they don’t miss out on the profits that will be achieved once the coin starts to surge again.