Is This Right Time to Buy NEO Coin

Is This Right Time to Buy NEO Coin

NEO’s hype as a possible Ethereum competitor may have cooled off a little, but the truth is that this coin has all the potential to be better. Like with any other crypto, a downtrend provides the best opportunity to buy."Is This Right Time to Buy NEO Coin"

NEO coins are currently trading at $49.48 against the USD and have lost value by 22%. On April 30, NEO traded at over $90, reaching a high of $94.46 according to stats on Coinmarketcap.com. However, the coins value has since taken a plunge. The current bearish market threatens to see it drop below $40 if sentiment does reverse in the short term.

Even with the strong bears circling, NEO’s strong platform has enough support to bounce again. Top on that list is the partnership it has with OnChain, the company that has the capacity to see more use cases brought to the NEO platform. Then there’s the not so hidden involvement of the Chinese Government that could provide a very strong base for NEO adoption in the vast region. All these strengths are aided by NEO’s extremely high transactions speeds, ease of use with numerous coding languages, and quantum-ready security. It definitely puts NEO among the top coins to recover their prices.

Usability of the NEO blockchain

We witnessed how the NEO blockchain has gained a lot of traction, even getting to compete with some of the most used protocols such as the ERC-20 token based on Ethereum.

Developers of the company introduced the NEP-5 token, a protocol very similar to the one provided by Ethereum, but proven to be even more functional, a fact that has granted the company with a lot of usabilities.

Switcheo exchange

One of the reasons why NEO is destined to greatness has undoubtedly to do with the amazing features the company has introduced on its fully-decentralized exchange, Switcheo. As the same company establishes on the website of the exchange is the “World’s First Multi-Chain Decentralised” platform for cryptocurrencies.

It provides, live trading and withdrawals operations, and at the same time allows users to trade with meager fees and withdraw money completely free.

Important partnerships

Neo has recently developed a substantial and vital partnership with the Ontology foundation. Both organizations decided to create a task force in which the primary targets are to build up API standardizations, and a shared smart contract ecosystem.

The project was initiated with a fund consisting of 4 million CNY that both companies have collected together. In addition, members of both organizations will collaborate to deploy the project – and three individuals of the community have been already confirmed, Weng Junjie Weng, Yuan Tan, and Peter Lin.

Furthermore, NEO was recently ranked as the number 4 regarding usability and appropriateness when it comes to supporting applications of the real life; the Chinese ministry of information made the judgment.

Besides that, the company looks string as well with the NEO Name Service (NNS), an initiative created to help the industry in the elaboration of names in the blockchain.

Neo Coin Global Expansion Continues

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