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Author: Chris Morris Updated: July 28, 2022

Neo is a decentralised blockchain project, which has been open-source since its inception in 2014. Originally named Antshares, the platform was rebranded to Neo in 2017, and has kept this name ever since. 

In recent years, Neo has focused on realising a smart economy by utilising its proprietary blockchain technology and smart contracts. The NEO network is completely decentralised, with 100 million tokens having been created in the so-called Genesis Block that initialised the system.

The base asset of the Neo blockchain is the non-divisible NEO token that generates GAS tokens, which can then be used to pay for the transaction fees.

Neo has become a popular cryptocurrency platform during its lifetime, and is prominently used by investors. So, in this article, we will assess the future direction of NEO's price, as well as many related investment issues.

A Brief History on the Price of NEO

Cryptocurrencies have become a fixture in the mainstream investing environment, but the history of the medium is both eventful and colourful. Even in recent months, altcoins have experienced some volatility, so it's certainly interesting to look at the behaviour of NEO over recent years, and examine the factors that influence its price range.

Key News for NEO

As Neo continues its development as a platform, the announcement of the launch of the N3 version of Neo in August 2021 is huge news for the cryptocurrency. This third update of the existing platform was first announced in July 2018, but due to an array of technical and logistical issues was delayed. 

The development team for NEO built this new version of the platform with the goal of becoming the most developer-friendly blockchain. If this is achieved, it will obviously be hugely important for NEO going forward, and could have a massively positive impact on its price tag.

This latest Neo version is hugely ambitious, with new features including native decentralised storage and oracles. A revised governance system, an all-new structure and an enhanced economic model are also part of this new build. Developers and management teams for other cryptocurrencies will no doubt be watching this development closely.

There have also been some rumours that Neo could benefit from certain cryptocurrencies being outlawed in China, but this remains very much a rumour, and certainly not something that has been confirmed by the authorities. The Chinese government continues to monitor the direction of cryptos, but it has yet to become hostile to the concept, and even if this were to happen it remains to be seen what impact this would have on the overall market.

NEO Timeline

  • 2014: Antshares is founded by Da Hongfei and Erik Zhang. (NEO price: n/a)

  • 2015: Antshares appears on GitHub for the first time, and its first white paper is released into the public domain. (NEO price: n/a)

  • August to September 2016: Antshares’ ICO raises 6119 BTC. 100 million tokens are minted as part of this process. (NEO price: $0.20)

  • June 2017: Antshares rebrands to NEO, with the name purportedly acknowledging that cryptocurrency is seen as the future of finance. (NEO price: $6.90)

  • December 2017: NEO enters the top 20 cryptocurrencies with a $5 billion market cap by the end of the year. (NEO closes 2017 at $80.81)

  • January 2018: Neo reaches its all-time high price, as cryptocurrencies generally enter a bull market. (NEO price: $198.38)

  • March 2018: Onchain, the parent company of NEO, airdrops one Ontology token for every five NEO that are held in NEO into every compatible wallet. These will be used going forward to vote on governance issues on the NEO platform. (NEO price: $128.64)

  • May 2021: NEO revisits highs not seen since early 2018 as the NEO3 update is expected in the foreseeable future. (NEO price: $122.45)

Compare NEO with Fiat Currencies, Commodities and Crypto

Cryptocurrencies have experienced a rollercoaster ride in recent years, and the development of Neo has certainly been rapid. This means that it's valuable to compare the token with some of the other investment options on the market. In this section, we will compare NEO with the US dollar, Gold and the market-leading cryptocurrency Bitcoin.

Compare NEO with Gold

NEO can be readily compared with Gold, as both are seen as being assets that are stores of value. However, NEO has a much lower unit price than Gold, meaning that it has an accessible entry point. Gold may not appeal to such a wide variety of financial backgrounds as NEO. 

NEO has also outperformed Gold during the COVID-19 pandemic, increasing in value to a greater extent. While Gold has experienced some increase in value, it is nowhere near the escalation in price of many crypto tokens, including NEO. 

Compare NEO with the US dollar

The US dollar is generally considered to be the most credible currency in the world, but its value has merely stabilised in recent years. The dollar even declined against the pound in the last couple of years, whereas NEO has massively increased in value during a bull market for crypto tokens. Certainly, those investing in NEO rather than the dollar will have made more money over the last couple of years.

Compare NEO with Bitcoin

NEO is one of the top 40 tokens by market capitalisation, but is still worth considerably less than 1% of Bitcoin’s market cap. The price per token of NEO is also a mere fraction of Bitcoin, with the market-leading cryptocurrency currently being valued at $38,000 per unit — about 850 times that of NEO.

However, NEO has grown in value in a similar fashion to Bitcoin, which tends to drive the cryptocurrency market. Both coins have escalated in price during 2020 and 2021, while also experiencing some periods of correction. It is certainly interesting to assess the two tokens next to one another, as they have fundamentally different approaches to the innovation of cryptocurrency. 

It is this division between Proof of Stake and Proof of Work that will continue to define the cryptocurrency space in years to come.

NEO Future Price Predictions

The first thing to note with NEO is that the cryptocurrency market itself is rather uncertain. Price movement can be quite volatile, and coins have certainly increased and decreased significantly in value over the last few years. This makes prediction difficult, and all future activity with NEO should be seen in this context.

Nonetheless, crypto tokens have generally entered a bull market since the COVID-19 pandemic began. There have been lots of ups and downs, with corrections in the prices of tokens, but many altcoins have made net gains during 2020 and 2021.

This doesn't mean that we’re in a permanent bull market, but it does seem to be a positive sign for NEO going forward.

NEO Price in 2021

As mentioned previously, the new protocol for NEO will be extremely important for its immediate price action. If N3 is a success, we may see NEO increase in value rapidly. It is also important to put this update in context. The Ethereum network is facing critical capacity challenges, and this means that alternatives such as NEO could potentially benefit from its logistical difficulties.

However, there are undoubtedly uncertainties relating to this project, as the release date was repeatedly pushed back. It has also been suggested that legislation in China could impact the viability of NEO, and this would be vital for the future of the token, considering that China has a population in excess of 1 billion people, and thus, is a critically important market. 

Aside from this, the impact of the ongoing economic climate will have an effect on the price of NEO as the world continues to recover from the COVID-19 pandemic. While this climate has generally been bullish for cryptocurrencies, the road ahead is uncertain. The price is likely to hover around $50 according to one analyst.

NEO Price Predictions for 2022

It is generally believed that NEO will continue to stabilise and become one of the favourite cryptocurrencies during 2022. The market for cryptocurrencies is expected to continue to increase in the years to come, and this should be positive for coins such as NEO, which are already established as viable trading mechanisms. With NEO firmly established as one of the top 50 cryptocurrencies on the planet, its place in the elite of altcoins is pretty certain.

As the overall economic climate continues to evolve, the price of NEO in the crypto market is certainly an intriguing prospect. While there has been something of an economic recovery in recent months, the viability of this in the longer term remains uncertain. This sort of economic uncertainty is generally considered bullish for cryptocurrencies, so this could be positive for NEO, but it is really dependent on how the market continues to develop and mature in the years to come.

One major issue for NEO will be its stability to compete with Ethereum and other similar projects, as they attempt to provide a viable alternative to the expensive and energy-sapping Bitcoin. It is likely that one token in particular will emerge as the top platform for Proof of Stake, and if NEO can achieve this then its future is extremely bright indeed. One analyst projects a price of $71 for 2022.

Beyond 2022 for NEO

Long-term predictions in any market are difficult, but this particularly applies to cryptocurrencies, which have been pretty volatile throughout their history. Cryptocurrencies could through several bull and bear markets between now and the end of 2025, and the trend could be upward for the investment category rather than downward, mainly due to the increasing flow of institutional money into cryptocurrencies.

There have been many long-term buy signals for cryptos in recent months, with technical analysis suggesting that a new bull market is about to materialise. However, the impact on the sector in the longer term is difficult to predict, as multiple factors could continue to influence the market.

One issue that could impact on the price will be the regulatory environment associated with the industry, particularly as it continues to develop and mature. It's important to note that cryptocurrencies haven’t been around for very long, and thus they are continuing to evolve. Nonetheless, with the market almost universally expected to expand, they should be bullish for tokens generally, even though there are some technical issues that will particularly impact on the viability of NEO.One analyst’s prediction for the future is a price of $185 in five years’ time.

NEO Price Conclusion

In conclusion, NEO has massively increased in value during its existence, making many investors a huge amount of money. However, the project has also stabilised in recent years, while the recent use cases and ambitious third iteration of the project indicate that the developers are serious about improving Neo. This could be a massively positive benefit to the value of the token, although the future of crypto tokens in general remains unpredictable.

Nonetheless, the outlook for NEO does seem to be bright. This third version of the platform is generally considered to be a bullish factor, and if Neo can take up some of the slack created by Ethereum’s difficulties, then it can really begin to become a major token.

However, there will certainly be challenges for Neo as well, not least the fact that it has several obvious competitors for the Proof of Stake market. While institutional investor money is expected to flow into cryptocurrencies in the years to come, not all coins will necessarily benefit from this process, and it is always the prominence and viability of a particular coin that will be decisive.

NEO is well-placed to attract some of this institutional money, but first, it needs to demonstrate that its third iteration is indeed as revolutionary as its developers suggest. If this can be achieved, the sky's the limit for NEO.

Frequently Asked Questions

  1. While NEO was clearly inspired by the market-leading Bitcoin, it intends to improve on this project in several different ways. Its Proof of Stake protocol, which involves blocks being validated by the voting of nodes, is considered a major innovation, not least as it is considerably less expensive than the Proof of Work approach associated with Bitcoin.
  2. NEO works by grouping transactions together into blocks of data, before linking these blocks cryptographically. Smart contracts can then be executed on the blockchain, while the whole ledger of transactions is distributed across a decentralised network of stakeholder nodes. NEO is stored at addresses which are cryptographically sequenced and accessed via a private key. This helps to keep the system and tokens secure.
  3. Ultimately, NEO is a currency, which can be used for buying, selling and making donations. The particular advantage of NEO is that it is a decentralised system that cannot be controlled by any authority.
  4. The developers of NEO would argue that it has more value than traditional fiat currencies due to its range of use cases. NEO can be transferred within a matter of minutes to any location in the world, while it is also anonymous, decentralised and irreversible. It is thus impossible to devalue or confiscate the token, and therefore it is argued that the token satisfies all of the requirements of money.
  5. The initial Genesis Event associated with NEO created 100 million tokens, and this is all that will ever exist. Tokens are being steadily released into circulation, and there will be no further increase of supply, ensuring that NEO is a scarce currency.
  6. NEO transactions involve the transfer of value from one person's address to another. The system keeps track of accounts and balances directly, while transactions are created by users on their customer client software, before being broadcast out to all of the other nodes on the system. At this point, the transaction becomes part of the Neo blockchain, which is effectively a record of all transactions.
  7. The blockchain is a public record of all transactions by all addresses, but each one of these transactions appears as a number, and thus doesn't reveal anything about the identity of the users. There is no way to trace a NEO address to the person using it, and no personal details are requested by the developers.
  8. NEO is not a token that can be mined. The computational process of adding new blocks to the blockchain does not apply to NEO, due to its Proof of Stake system. All 100 million NEO tokens are already in existence, and no more will ever be created.
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