While Bitcoin (BTC) is gaining on the value for the last seven
days, the market has entered a period that looks like a rebound as well.
In the meanwhile, NEO (NEO) is ranked as the 20th top cryptocurrency on the list of all digital assets, rising by over 7% in a
single-day trade as recorded on May 14th, taking the 19th spot on the list only a day before.
The rest of the crypto market also appears to be going through
a period of bouncing back up against the fiat, with Bitcoin almost touching the
price of 8,000$ with the weekly increase by 34%.
At the same time, NEO went up by 17.6% in a single week, recording
an important milestone by having NEO blockchain receiving 100 million dollars
Can NEO (NEO)
Take the Rebound to the Next Level? NEO UP by Nearly 18% in a Week
NEO is following the latest positive trend in the crypto
market, which seems to be led by Bitcoin as BTC was the first crypto in the
market to show serious signs of rebounding.
NEO is not an isolated case within this trend, or even one of the top gainers, however, the crypto is showing a stable pace of growth with nearly 8% of increase in the value in the course of 24 hours.
Thanks to the latest rebound that apparently arrived as a true
refreshment in the market of cryptocurrencies, NEO is also showing positive
returns bi-weekly as well, with over 14% of increases.
Additionally, losses were cut to -2.9% accounting for a 30-day
Still, NEO lost over -80% of its value in the period of
between May 2018 and May 2019, while the most of the value was cut back in
November 2018 during major price cuts.
Receives 100 Million Dollars in Funding for Dapp Development and Growth
One of the key values of NEO currency and NEO blockchain lies
in the ecosystem of decentralized applications, also making the core of NEO
NEO places a great value in Dapp development, which is why 100
million dollars in funding is more than just good news for NEO.
Moreover, a part of the funds will also be used for support,
projects and community ventures, while projects built on NEO should be
supported by the multi-million funding.
Steps Towards Mass Adoption Ahead of Its Rebound in May
Back in April, NEO announced that a fintech company based in
London, named Zeux, made an important deal with NEO blockchain.
The deal allows Zeux users to use NEO units as a currency in
order to pay for services and products on Samsung Pay and Apple, which is a
significant step towards the general plan for mass adoption of cryptocurrency
and digital assets.
Combined with the recent funding for NEO blockchain development
and bullish behavior in the market, NEO currency may be looking at a prolonged rebound.
The latest closing price, concluded with May 14th was set at nearly 10.5$ according to CoinMarketCap.