The night of 7th March, an unexpected and drastic downfall in the crypto market happened, dragging among others NEO and Cardano downwards. However, NEO managed to race past Cardano leaving it in the 7th position.
A Twitter user said:
“#cardano $ADA is an example of a coin where there was a large increase in volume on #binance (1000+ BTC overnight), yet price did not change.”
NEO is based on the Bitcoin peer-to-peer cryptocurrency technology aimed at providing a unique and instant payment system across the globe. However, it has few distinctive features which make it more accessible and convenient to both traders and miners.
NEO is a decentralized coin with no central authority to control it. NEC is a cumulative effort of everybody willing to participate in its networks.
Among others, Binance, Bitfinex, and Upbit are major crypto exchanges that trade this coin, which market capitalization worth $6.5 billion.
The NEO smart contract which is one of the most crucial characteristics of NEO and is one of the core features of Blockchain technology. NEO uses the lightweight NeoVM, a Virtual Machine, which is a computer system’s emulation, which in this case, is “NEO computer.” This provides a more fast-paced environment for contact executions, using a limited amount of resources. This is the reason why it is most sought after for short procedures.
Jim Paul, a speculator commented on a blog:
“ONT was supposed to be the company equivalent of NEO.. So there’s that. We all bet on linux but the big money is still in MS and Apple.”
Cherry, a trader of cryptocoins stated:
“FML – I’am not able to trade atm (want to unload) – but who knows, maybe in seven hours the price will be even higher again.”
Monana, another trader also commented:
“Price is a lot higher than I expected. I think I’ll wait this one out. I have a deja vu of someone saying that, lol. The opposite happened and FOMO set in on the peak.”