As the crypto market faced an unexpected and drastic downfall last night, NEO and Cardano coins were no exception to it. Albeit the slide, NEO managed to race past Cardano leaving it behind in the 7th position. NEO is currently priced at $100 while Cardano [ADA] stays at $0.247 as seen at press time.
A Twitter user says:
“#cardano $ADA is an example of a coin where there was a large increase in volume on #binance (1000+ BTC overnight), yet price did not change.”
NEO is based on the Bitcoin peer-to-peer cryptocurrency technology which aims to provide a unique and instant payment system across the globe. NEO is an altcoin patterned on Bitcoin with few distinctive features making it more accessible and convenient to miners and traders.
Since it is a decentralized coin, no central authority can control this currency. NEC is a cumulative effort of everybody willing to take part in its network.
Binance, Bitfinex, and Upbit are the top exchanges out of many to trade this coin which is worth $6.5 billion of market capitalization.
The NEO smart contract, one of the most important features of NEO, is one of the core characteristics of blockchain technology. NEO uses the lightweight NeoVM, a Virtual Machine which is an emulation of a computer system, which in this case, is ‘NEO computer’. This provides an environment for contract executions to take place fastly. It also takes up a very small amount of resources. This is why it is most sought after for short procedures.
Jim Paul, a speculator commented on a blog:
“ONT was supposed to be the company equivalent of NEO.. So there’s that. We all bet on linux but the big money is still in MS and Apple.”
Cherry, a trader of cryptocoins stated:
“FML – I’am not able to trade atm (wan’t to unload) – but who knows, maybe in seven hours the price will be even higher again.”
Monana, another trader also commented:
“Price is a lot higher than I expected. I think I’ll wait this one out. I have a deja vu of someone saying that, lol. The opposite happened and FOMO set in on the peak.”
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