NEO is a blockchain based platform that helps develop digital assets and also smart contracts. It was developed in China and it is usually referred to as China’s Ethereum. It is still one of the world’s top 15 cryptocurrencies by market cap.
In the second half of 2017, NEO achieved an amazing growth starting from $1.07 and reaching up to $190. Despite the price dropping, NEO still has all the attention of a lot of crypto users and enthusiasts.
There are a few key factors that can lead to NEO gaining growth again this year. First and most important is the supply and demand. The maximum supply is limited to 100 million and there are currently more than 70 million in circulation. If this platform shows effectiveness with its smart contracts and dapps, this can lead to an increased demand for tokens. Also, tokens are now very easily available. The general public has a great option this way to get to it and this is why they are looking to start with NEO.
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A huge role in the future development of NEO plays the world’s largest economy-China. China has a lot of opportunities for many crypto projects. So if NEO becomes the first choice for the Chinese developers, there is a great chance that NEO skyrockets in value.
However, there are some factors that might lower the chances of a great increase in value. For example, if the platform doesn’t gain sufficient interest and use, this can be bad news for neo. Also, there are currently so many projects that are working on smart contracts and this means stiff competition for neo. Another very important element is the government crackdowns, technological issues, and neo’s indivisibility.
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