Neo – formerly known as Antshares, in a couple of minutes declined for approx 25 percent of price from around $40 to almost the major support mark $30 two times in a row.
After the first descending crash, there was an attempt for recovery but did not hold stable ground for long and went downward even lower this time. Now, struggling but with slow steps using the buying pressure found as an opportunity by traders to buy-in at low terms the price NEO/USD is recovering.
Source: CoinMarketcap
This all happened just weeks after the NEO price took momentum and catapulted with its rebranding from “Antshares to NEO”.
The so-called Ethereum of China is a direct rival to the second in the lead of the cryptocurrency pack Ethereum because of its improved and wider adaptation (as community opinionated).
The “Ethereum of China” – NEO has a target of bringing together global-real applications with the distributed ledger
It has a wider range of reach and easier to approach by any traditional developer and programmer as it supports most programming languages that are available while working on its smart contract-NEO based apps. NEO uses compilers compatible with Java, C#, and .NET, and will support Python, Go, and others in the near future.
Even that it is new, it ranked quite high on the list of the most famous digital currencies but there is much yet to do before it can cement its place as its quick climb resulted with a similar short-term fall. Let’s see what this virtual currency and the team has in store for the future.
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