Will Neo (NEO) Dominate the Next Generation of the Internet? - Kakiforex.com - Financial Market Media No. 1 in the World Will Neo (NEO) Dominate the Next Generation of the Internet? Will Neo (NEO) Dominate the Next Generation of the Internet?

June 10, 2021

Will Neo (NEO) Dominate the Next Generation of the Internet?

 Neo is the most complete blockchain ecosystem for building decentralized applications (DApp), as well as having the goal of being the foundation for the next generation of the internet.

Neo is believed to be China’s first public blockchain launched in February 2014 by Da Hongfei and Erik Zhang.

The team behind the project has run the ‘EcoBoost’ initiative designed to encourage people to build decentralized applications (DApp) and smart contracts through blockchain, which is often equated with the Chinese Version Ethereum network.

Interestingly, the platform has launched Neo 3.0 to improve network security and allow more transactions to be processed in seconds.

Let’s take a closer look at the current movement chart of the NEO/USDT price.

According to the current price movement record, Neo has recorded an all -time high (ATH) at the price level of $ 196.85 on January 15, 2018 and has yet to break the resistance level.

At the market opening in early January 2021, Neo had made a nearly 900% jump up to a high of $ 141 on May 7, 2021 but unfortunately failed to record the latest all -time high (ATH).

This is due to the impact of the fall in the price of Bitcoin (BTC) to plunge to the support level around $ 40.

For the next expectation, if the price movement can break the SBR (support become resistance) zone around $ 60, the price movement will test the SBR (support become resistance) level around $ 80 first before continuing to rise to the next SBR zone.

However, if the NEO price movement shows a bearish pattern, the $ 40- $ 45 support level that has been reached before will be tested again and will be the observation of investors.

At the time of writing, NEO/USDT is trading around $ 52, jumping over $ 8% in 24 hours. The coin is currently ranked 30th with a direct market limit of over $ 3.7 billion.