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NEO is an open-source blockchain decentralised application platform. This successful cryptocurrency was founded in 2014 by Da HongFei and Erik Zhang, and is often stylised as NEO. Having been rebranded from Antshares in 2017, the NEO project has since been working on its vision of building a smart economy via blockchain technology and smart contracts, which then combines to issue and manage digitised assets.

When NEO emerged, 100 million tokens were created, 50 million of which were sold to early investors in the platform. Today, 15 million NEO tokens are unlocked on an annual basis, and these are then used by the development team in order to fund the long-term goals of the project.

NEO is currently ranked 19th among cryptocurrencies in terms of market capitalisation.

Where to Buy NEO?

NEO has become one of the more recognisable cryptocurrencies, with a distinct ethos and project. It has, therefore, become widely acknowledged in the cryptocurrency community, and this means that the token is also widely available.

Most people that purchase NEO do so via cryptocurrency brokerages and NEO exchanges, and this is a pretty straightforward process. However, choosing the most reputable broker is definitely advisable, as customer service, safety, and security are always important in cryptocurrency investments.

A Brief History on the Price of NEO

In order to rise to the top 20 cryptocurrencies in the world, NEO has experienced an interesting price discovery history, with its value fluctuating over the years.

Key News for NEO

There is no doubt that the most important news related to NEO has been the coronavirus pandemic which has profoundly impacted the entire financial system. The extensive lockdown measures that have been taken by the vast majority of countries have inevitably had an almost unprecedented impact on the global financial structure, and this will continue to define economics and finance for the foreseeable future.

In this climate, most assets, investments, and markets have struggled. It is therefore interesting to note that cryptocurrencies have largely been beneficiaries of the current environment, with many altcoins having increased in value, as investors seek alternative locations for their money.

And the Chinese blockchain giant NEO is no exception to this rule, with the token having more than doubled in value during the coronavirus pandemic. With the Covid-19 situation set to continue for some time to come, it seems that the road ahead might be bullish for NEO.

Elsewhere, the founders and development team of NEO have been seeking collaboration and partnership during recent months, and have penned a deal with the Korean-based project FLETA on the launch of a clinical trial data registry platform. This will be based on the specific blockchain technology pioneered by NEO.

NEO is thus moving into the medical field, assisting with the maintenance of clinical trial data registry in Korea. Many medical experts will be involved in this undertaking, and it gives some indication that blockchain technology can offer functionality outside of the digital currency sphere within which it has been most readily associated thus far.

While it is valuable that the development team of NEO have been actively seeking partnerships, it should nonetheless be stated that the overarching coronavirus pandemic will remain the most impactful factor on NEO for the foreseeable future.

NEO Timeline

  • February 2014NEO was founded by Da HongFei and Erik Zhang. At this time, the project is referred to as Antshares.

  • March 2015  NEO is open-sourced on GitHub for the first time.

  • September 2015  The white paper was released into the public domain.

  • June 2017Antshares is rebranded as NEO, and its smart economy vision is announced. NEO price  $1.24

  • January 15th 2018NEO reaches what remains its peak trading price, briefly touching the $200 barrier. NEO price: $187.40

  • March 2018NEO's parent company Onchain distributed 1 Ontology token for every 5 NEO held in a user's wallet. These tokens will be used to vote on system upgrades, identity verification mechanisms, and other governance issues on the NEO platform. NEO price: $129.05

  • June 2018Da Hongfei announced the adoption of a new organizational structure. The NEO Council was to be reorganized into the NEO Foundation, co-chaired by Hongfei and Erik Zhang, and two operational units funded by the NEO Foundation: NEO Global Development (NGD) and NEO Global Capital (NGC). NEO price: $55.45

  • June 3rd, 2020The value of NEO more than doubled during Covid-19 crisis. NEO price: $12.37

Compare NEO With Fiat Currencies, Commodities and Cryptos

Although NEO is primarily designed as a digital payment system, its rapid increase in value has led to it being viewed as a valid investment mechanism as well. This means that investors often consider NEO, and indeed other cryptocurrencies, as an alternative to traditional investments in commodities and fiat currencies.

It is therefore valuable to compare NEO to some of these assets, as well as other relevant cryptocurrencies. So in this section, we will examine this token, and compare its recent progress to some relevant investment assets.

Compare NEO With the US Dollar

While currencies have definitely struggled during the coronavirus pandemic, the US dollar has remained relatively stable. The advantage that the dollar gleans from being the world's reserve currency should never be underestimated, and its performance has consequently been fairly reliable.

Nonetheless, considering that NEO has more than doubled in value over the last few months, it would be fair to say that it has outperformed the dollar as an investment mechanism. Whether this will continue going forward remains to be seen, but the market conditions do seem bullish for cryptocurrencies in the longer term.

Compare NEO With Gold

Perhaps the most obvious parallel to be drawn with NEO is with gold, which is also viewed as a safe-haven asset in times of crisis. The precious yellow metal has thus been relied on by many investors during the coronavirus pandemic, and this has almost inevitably resulted in a 20% inflation in the value of gold.

This is a more than respectable performance considering the existing economic climate, but it doesn't match up to the performance of NEO in recent months. With NEO more than doubling in price, NEO investors can be more than satisfied with its performance, and it has definitely outperformed the safe-haven asset of gold.

Compare NEO With Crude Oil

Crude oil has experienced one of the most tumultuous years in its history, following a political wrangle involving the two prolific oil-producing countries, Russia and Saudi Arabia. The disagreement between these two nations resulted in a plummeting of the oil price, with the ridiculous scenario at one stage of a barrel of oil being valued at $-40!

Needless to say, this scenario couldn't continue indefinitely, but the price of oil has still taken a kicking recently. Indeed, the paths of oil and NEO have taken completely contrasting directions in recent months, as one has increased exponentially, and the other has decreased by the same magnitude. The oil market will surely recover eventually, but with traffic, and thus oil demand, expected to be greatly reduced during the coronavirus pandemic, there is little light on the horizon currently.

Compare NEO With Bitcoin

Bitcoin is the world's leading cryptocurrency and is the obvious token of comparison for most cryptos. It is encouraging for NEO that it has matched Bitcoin over the last few months, with both more or less doubling in value. If anything, NEO has increased by a slightly higher percentage, which must be considered encouraging for the cryptocurrency going forward.

NEO Future Price Predictions

As cryptocurrencies such as NEO gain an increasingly public profile, it is inevitable that there is also increased speculation regarding their future. NEO has definitely been a part of this process, with investors having pushed large amounts of their own currency into the altcoin, which means that it is interesting to assess its future performance.

NEO Price Predictions for 2020

There are absolutely no prizes for guessing the most compelling issue that has affected the price of NEO recently. The pandemic has been a cloud looming profoundly over the entire global financial system in 2020, and cryptocurrencies have definitely been affected by this prevailing climate.

However, while many assets and investments have fared poorly in what has unquestionably been a challenging environment, many investors have piled into the cryptos with their money. This has meant that NEO has experienced something of a bull run during 2020, doubling in value, and attracting some positive sentiment.

It is certainly likely that the coronavirus will continue to dominate the investment environment for the remainder of 2020, and this could be bullish for NEO. Other technical issues cannot be neglected entirely, and NEO's founders will definitely have to address these in the years to come. But Covid-19 will definitely have a profound influence over price discovery for the remainder of 2020.

NEO Price Predictions for 2021 

While the impact of the coronavirus pandemic will lessen during 2021, it would be naive to believe that it will have disappeared completely. Covid-19 will still be around, while the economic impact of the lockdown will still be felt profoundly. In this climate, we can expect NEO to exhibit similar behaviour to the first coronavirus lockdown, which must be positive for the token.

However, other factors will begin to have a bigger impact on the future direction of NEO during 2021. Above all else, the focus of NEO on regulatory compliance may begin to pay off during this calendar year, with its founders and development team having maintained a clear distinction from other blockchain platforms with its regulatory-compliant nature.

Beyond 2021 for NEO

Covid-19 will probably remain an issue beyond 2021 for NEO, with no guarantee that the virus will have been eradicated completely, and the ongoing recession caused by the pandemic lockdown probably still having some economic impact. 

But other factors will also have primarily come to the fore by this time, and NEO must address these if it is to achieve his potential. The technical robustness of NEO and its centralised approach are promising, but some market observers and crypto enthusiasts have been critical of the Chinese approach to this cryptocurrency.

Aside from this, NEO will also be impacted by the market-leading Bitcoin, and the market demand for the top cryptocurrency going forward. NEO will also need to state a strong use case that distinguishes it from the array of competing cryptos, while the controversial internal governance of NEO must be resolved in a way that is convincing to the market.

NEO has unquestionably benefited from the increasingly strong regulatory environment of cryptocurrencies, as it has taken steps to cooperate and collaborate with regulators. However, its development team needs to answer some of the questions and criticisms that have been levelled at the project, particularly as the coronavirus pandemic ceases to be such an issue of central importance.

NEO Price Conclusion

In conclusion, the long-term price discovery of NEO has great potential, particularly considering some of the connections that the development team of the cryptocurrency have already forged. But the reputation of the token is in doubt, and the future direction of NEO will be extremely important if this cryptocurrency project is to achieve long-lasting success.

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Frequently Asked Questions

  1. The blockchain is absolutely critical to the entire concept of cryptocurrency, as it represents a public ledger of all transactions associated with a particular token. It would be impossible for cryptocurrencies to deliver an efficient, stable, and transparent system without the blockchain. Aside from transactions, the blockchain also maintains a public record of every single key associated with every single transaction.

  2. As NEO can be used in exchange for goods and services, the most obvious answer to this question is simply an affirmative one. NEO is an active digital payment system, with its founders and development team having made explicit statements regarding the creation of a digital economy in the future. Of all crypto coins, NEO is one of the most committed to digital payment and digital money.

  3. There is no onus on anyone to invest in NEO and other cryptocurrencies. But this can certainly be advantageous. For example, NEO is faster and cheaper than many other forms of digital payment. NEO is also a valuable investment asset, which has appreciated massively since it was first released. NEO also enables transactions to be completed with those not served by the traditional banking system; often described as unbanked people.  So there are numerous reasons that one may choose to use NEO, and motivations will vary depending on personal circumstances.

  4. Smart contracts to play a major role in the NEO blockchain, and they effectively combine a legal contract with code in order to execute specific terms of an agreement between two parties. Effectively, smart contracts are used in the transfer process of funds, or indeed any other form of information, via a blockchain. Creating smart contracts does require some complex technical knowledge, but executing them is relatively straightforward.

  5. Mining is simply the process of creating blocks on the NEO blockchain, or for that matter any crypto blockchain. This is typically achieved by powerful computers, which solve algorithmic equations in order to create the tokens associated with the cryptocurrency. The reasoning that mining is used as terminology is to create an analogy with existing commodities such as gold; no physical mining is required in the case of cryptocurrencies! ASIC minings rigs have often been assembled in order to complete this mining process, as they provide the necessary computational power required to solve the cryptographic puzzles involved in the mining process.

  6. It should be noted that NEO is not the most anonymous of cryptocurrencies. In fact, the development team for NEO has gone out of its way to follow as many business and economic regulations as possible, which is arguably one of the strengths of the project going forward. But it’s certainly not possible to acquire Neo and remain completely anonymous to the authorities.

  7. There is currently no minimum amount required to send funds on the NEO blockchain.

  8. There are currently approximately 70 million NEO tokens circulating worldwide, of the 100 million tokens in total that will ultimately be created, or that remains the maximum possible.

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