In the crypto market, new projects appear every day. On average, only one project out of ten becomes a complete working ecosystem, and only a few of those have an application to the problems of the modern world. One successful start-up is NEO, open-source crypto with the extended functionality to develop smart contracts and decentralized applications (dApps).
According to NEOSCAN, there are 2,940,701 NEO addresses. This looks impressive considering the project’s long existence, although the usable amount of NEO is not specified (and some users may have more than one address).
Neo (NEO) might not be one of the biggest names in the business, but it’s reputedly China’s first open-source blockchain — and is often referred to as ‘the Chinese Ethereum’. Erik Zhang, one of the co-founders, is the inventor of the ‘Delegated Byzantine Fault Tolerance‘ consensus mechanism, making NEO the first crypto to use this algorithm.
With supporting details on the coin’s potential in this NEO price prediction, you might want to add the coin to your portfolio,
Today’s Neo price is $9.96, with a 24-hour trading volume of $51,643,017. Neo is down 1.30% in the last 24 hours. The current CoinMarketCap ranking is #64, with a live market cap of $702,904,246. It has a circulating supply of 70,538,831 NEO coins and a maximum supply of 100,000,000 NEO coins.
Investors are bullish about NEO. Could Neo’s prospects really be so good? Let’s find out by this in-depth NEO price prediction.
NEO Price Overview
Given China’s government’s limits on cryptocurrency transactions, NEO has the potential to become the cryptocurrency of choice in the severely restricted country, and maybe the whole world. NEO’s Onchain technology has been intended from the start to be regulator-friendly, with a centralized approach that is unlike that of other cryptocurrencies.
This might enable it to survive and expand even in China, where government officials are becoming cautious of the bitcoin industry. The government is concerned about cryptocurrency speculation’s financial concerns. Furthermore, its massive cryptocurrency mining activities have depleted the nation’s electrical supply to the point that they are jeopardizing the country’s environmental goals.
What Is NEO?
NEO, in short, is a blockchain project from China founded in 2014. It used to be called Antshares, but this changed later. NEO cryptocurrency is also called the Chinese Ethereum because they are strongly committed to creating a smart economy and receiving huge Chinese government support. This means that the project developers want to make it easy to use smart contracts on the NEO network.
For investors to use the NEO platform, the second crypto is used – namely, GAS. This can be considered the fuel of NEO. One share of the NEO token is also seen as one share in the network, and the GAS crypto is used to make transactions on this network.
It is possible to earn GAS with your NEO coin by saving your NEO coin in official wallets. This is due to the proof of stake principle. You deposit your NEO coin in your wallet and receive a portion of the GAS spent on the network in proportion to the amount of NEO coin you own. It is thus possible to generate some passive income for yourself.
You can imagine that when the NEO price or the GAS price rises, you will benefit from the price difference on your NEO but also that of your obtained extra GAS.
This is one of the reasons investors invest or have invested a lot in NEO crypto in the past. Over the years, as with any project, a lot has happened with the NEO price action. We should add that it’s impossible to mine this virtual currency because they were all distributed during the ICO.
The NEO team was working on the project for three years. The Cryptocurrency market has been waiting for the NEO 3.0 release since the end of 2020. The launch was postponed several times. However, in March 2021, Neo started rolling out an N3 version of its public blockchain technology.
NEO tries to create its own digital identity by attracting developers to create decentralized applications on the blockchain platform. The improved consensus protocol can be used worldwide. The upgrade of the system occurs when the Ethereum network (a major competitor of NEO) is suffering capacity problems. Moreover, China, famous for its strict crypto regulation, claimed blockchain as a strategically leading technology.
NEO 3.0 will raise transaction speed from 1,000/second to 5,000/second and cut “gas fees” 100 times. The fee reduction is a core point in competition with ETH, which has too high fees.
The upgrade will include a decentralized file storage solution and a new governance mechanism. Under the new governance, NEO holders will vote in a NEO Council, which includes 21 members. The Council will control the management of fees, network upgrades, and other operation-based cases.
Poly Network, a consortium interoperability protocol, is used to facilitate NEO token migration to the new network. The migration with Poly Network will show whether the network works well to create a blockchain from scratch and transfer all the data from the existing chain without errors.
Here are some of the major elements of the NEO 3.0 network that are supposed to attract developers to the system: multi-language support, native oracles that secure access to any off-chain data, advanced interoperability, decentralized storage, and self-sovereign identity, best-in-class tooling, and a dual-token model.
Sometimes people include NEO in the list of Ethereum Killers. Both systems provide similar features for the market, but NEO has more advanced technology and surpasses ETH in various aspects.
The platform uses its own virtual machine NeoVM, allowing you to run even the most complex contracts quickly. The theoretical network capacity is 10,000 transactions per second.
At the moment, the speed does not exceed 1000 tps. NEO implements an advanced dBFT protocol that effectively protects the system from most known cyberattack methods. Unlike Ethereum, which uses the extremely sophisticated programming language, Solidity, NEO supports Java, C#, Kotlin, GO, and Python.
In the middle of April 2021, after NEO 3.0 started rolling out, the NEO/USD pair managed to hit $130. It’s a significant rise from 0.0320 USD during the ICO in August 2017. Analysts and crypto enthusiasts believe that it’s not the limit and that further development will lead to higher prices.
NEO Price History
Before the rebranding in 2017, NEO was previously called Antshares. When the company finished rebranding and became NEO, the coin’s price increased from $1 to $7. The crypto community started actively buying NEO when it learned about the coin. In August, the coin reached $40, and the market capitalization of NEO was $2 bln.
For several months, NEO was traded between $20 and $40; then, in December 2017, it started growing rapidly and nearly all the other digital assets on the market. Beyond benefitting from the overall influx of buyers into the market at that time, the growth of NEO was boosted by it getting listed on Bithumb, the largest active crypto exchange at the time. As a result, in mid-January, the coin reached its ATH – $196.
When the market turned bearish, NEO started going down. In March 2018, the digital coin cost about $52, but it returned to $76 before falling back to $40. April was the last month when NEO showed solid growth and reached $83. After that, the coin started gradually falling, and by the end of 2018, NEO’s rate was $7.
In April 2019, when Bitcoin grew again, NEO jumped from $9 to $12. Besides, NEO upgraded its algorithm to improve the transaction speed and stability of the network. However, the update didn’t have a significant effect on the market price of the coin. By the end of June, the coin reached $20 and then dropped to its price of $8.
In September 2019, NEO presented three new products: NEO ONE Developer Framework, NeoFS Distributed File System, and NEO Blockchain Toolkit. All these tools will be used in the new NEO 3.0. After the announcement, the coin price gradually grew to $10 and, in November, fell back to $8. The coin price has been fluctuating for the next seven months from $6 to $14.
As the historical chart above shows, the NEO price breaks through the local highs, and the candlesticks’ lows are rising. There is a clear bullish trend. Blue dots mark the peaks of trading volumes in 2019 and 2020. Opposite, there are Japanese candlesticks, which we should analyze to identify closing levels, lows, and highs. These figures will define the key support and resistance level.
In July 2019. The NEO price is trading in the uptrend as indicated with the red candlestick, which indicates a bearish price movement. The candlestick is close and low.
The trading volume formed in September 2020 was high at 25.62 and broke the current January candlestick, but the price failed to consolidate above.
The most recent January candlestick is green; its body covers the candlestick bodies over the previous four months. Therefore, the NEO bullish momentum is likely to continue.
At the start of this month, the NEO price has been ranging from around $30 to $50 and seems to have acquired bullish potential.
NEO Technical Analysis
Neo price analysis reveals the digital asset has been on an impressive run in the last 30 days, making higher highs and higher lows. The market is currently in a bullish mood as the price has broken out of the descending triangle pattern to the upside.NEO opened the month of August at a price of $9.47 and has since rallied to highs of over $12.12. NEO is currently trading at $10.02, up 4.123 percent from the start of the month.
The current uptrend is supported by the 50-day moving average, providing strong buying pressure. The digital asset also trades above the middle Bollinger Band, another indicator of bullish momentum in the market.
The market volatility is high as indicated by the widening Bollinger bands. This indicates that traders should expect large price movements in either direction in the short term.
The SMA lines are about to cross in a bullish direction, indicating that the bulls are gaining market control. The RSI indicator is currently trading in the overbought region, but this could just be temporary as buyers continue to buy the dips. The MACD indicator shows increasing bullish momentum as the fast line moves above the signal line.
The Relative Strength Index (RSI) is currently at 61 percent, indicating that NEO is neither overbought nor oversold at this time. However, the RSI is close to the overbought territory which could be a sign that the market is getting overextended.
NEO price is expected to continue its upward trend in the short-term as the bulls try to push the price towards $12. The digital asset could face some resistance at this level as a minor bearish divergence forms on the 4-hour chart.
NEO could continue to push higher in the short term as the bulls try to target the $12 region. However, if the digital asset faces any selling pressure at this level, it could return to $10.50. Overall, NEO remains in a strong uptrend and is expected to continue its positive momentum soon.
Neo Price Predictions By Authority Sites
Wallet Investor believes that Neo is not a long-term profitable investment as per their NEO price
forecast. They have given a one-year price forecast of $0.931, representing a decline of -90.740%. The site proceeds to state that NEO will crash and will not be profitable for the next five years at least.
Digital Coin Price
Digital Coin Price has given a more optimistic price prediction for NEO, expecting it to reach $14.18 by the end of 2022. They believe that the digital asset will fall back to $13.26 by the end of 2023 before climbing to an average of $15.02 and could probably attain a maximum of $16.44 before the end of 2023.
The site believes NEO could reach a maximum price of $27.97 in 2027, and by 2030, it might fall back to an average trading price of $24.51.
Price Prediction net
According to Price Prediction net’s NEO forecast, the digital asset might fall to as low as $12.75 by the end of 2022 and also could potentially soar to a maximum price of $14.19. Their long-term projections are quite bullish as they have predicted NEO will attain a maximum price level of $109.04, and in 2030 NEO might be trading at $328.75 by the end of 2030.
Neo Price Prediction 2022
According to the current NEO price movement, NEO might rise to a maximum value of $14.19 and an average price of $13.33.The least possible price forecast for 2022 is $12.75.Based on the current market trend, it seems like the bulls are in control and NEO might continue to rise in price in the near future.
Neo Price Prediction 2023
The long-term prospects for NEO look quite bullish as the digital asset could potentially attain a maximum level of $23.31 by the end of 2023. In 2023, the forecasted Neo price is a minimum price value $20.07 and an average of $20.75.
Neo Price Prediction 2024
Neo price forecast for 2024 is quite bullish as the digital asset could potentially attain a maximum of $35.67 by the end of 2024. In 2024, NEO might fall to a minimum value of $28.82 and an average of $29.86.
Neo Price Prediction 2025
The NEO prediction for 2025 expects the digital asset to continue its upward trend and could potentially attain a maximum price level of $50.66 by the end of 2025. In 2025, NEO might fall to a minimum value of $44.78 and an average of $45.97.
NEO could continue its upward trend in the long term as the bulls try to push the price towards the $50 level the following year.
Neo Price Prediction 2026
Neo is projected to be in strong bullish momentum in 2026 as the digital asset could potentially attain a maximum value of $77.53 by the end of 2026. In 2026, NEO might return to a minimum price of $61.95 and an average of $64.25.
Neo Price Prediction 2027
In 2027, NEO could potentially reach an average trading price of $92.45. However, the digital asset might face some selling pressure at this level and could return to $89.88 by the end of 2027. Neo might enter a bull run, and the expected maximum price is $109.04.
Neo Price Prediction 2028
The long-term NEO coin price prediction for 2028 expects the digital asset to continue its upward trend and potentially attain a maximum price value of $153.06.The average price forecast is $136.96, while the minimum price forecast is $132.34.
Neo Price Prediction 2029
In 2029, our NEO price forecast predicts the digital asset to enter a bull run and could potentially attain a maximum price value of $227.97 by the end of 2029. The NEO price might fall back to an average value of $197.09 and a minimum value of $190.24.
NEO Price Prediction 2030
Neo price prediction for 2030 foresees the digital asset to continue its upward trend and could potentially attain a maximum price value of $328.75 by the end of 2030. The NEO price might fall back to an average forecast price of $283.60 and a minimum value of $273.75.
Neo Price Prediction 2031
As per our deep technical analysis, NEO’s price might continue its upward trend in the long term and could potentially attain a maximum price value of $477.83 by the end of 2031. NEO’s price might fall back to an average value of $404.16 and a minimum value of $392.81.
Neo Price Forecast by Market Experts
Neo price prediction by market experts is quite bullish as the digital asset looks to have a bright future ahead. Market experts believe that NEO could potentially reach as high as $500 by the end of 2030.
NEO’s strong performance this year has led to many market experts issuing bullish NEO price predictions for the future. Here are some of the NEO price predictions made by market experts:
“Crypto Wchamp “a Youtuber and market analyst, refers to NEO as the Chinese Ethereum and predicts NEO could achieve a price of $500 by 2030.
NEO was created due to the efforts of scientific geniuses who had spent years researching and developing blockchain. NEO has a well-planned road map and objective, which promise to impact the cryptocurrency industry as a viable investment choice significantly. NEO will outpace all price ceilings and continue to be a popular cryptocurrency on exchanges.
NEO is a long-term investment that pays off. Although there are many NEO price predictions, it’s best to make your own assessment of the cryptocurrency. You don’t need to follow every forecast because this often leads to speculation instead of fact. When making decisions about investments, always do your own research and consult with an advisor if possible.
Consequently, investors should always speak to a financial expert before making decisions. And remember, never invest more money than you’re willing to lose. The bitcoin exchange market is intensely unstable and could fail at any moment.
According to algorithmic averages and expert predictions, the price of one NEO currency will breach $100 in 2027, nearly ten times more than the present price. As a result, NEO is a long-term investment that pays out. According to our research, in 2031, the NEO price might rise as high as $477.83, with an average predicted price of $ $404.16.
Predicting the future of any cryptocurrency is never easy, as you can undoubtedly guess. Many factors influence whether the price rises or falls. NEO has a number of technological advantages over Ethereum, which gives it a bright future.