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Celer Network, NEO announce partnership to improve latter’s scalability and dApp usability

Celer Network, a layer-2 scaling platform for building blockchain applications, has announced a partnership with NEO to expand the latter’s scalability and the usability of dApps on the blockchain.

NEO had been looking for a suitable layer-2 scaling solution in order to improve its dApp ecosystem when it came across the Celer Network. As per the announcement, the initial smart contract support is scheduled to be completed by Q4 of 2019.

The integration will occur in two phases. In phase one, NEO’s engineering team will start writing Celer’s generalised state channel smart contract in C# so that it can run on the NEO smart contract VM. The code provided by both teams will then merge into Celer’s Channel smart contract repository by late-2019. The next phase will involve connecting Celer’s layer-2 components to the state channel smart contracts on NEO.

Celer, which uses its native CELR tokens to transfer value across the network, claims to be fifteen times faster than Bitcoin’s layer-2 Lightning Network. Previously in March, Celer managed to sell over $4 million in CELR tokens on Binance’s token launch platform, Binance Launchpad.

With this partnership, Celer hopes to bring various dApps in the NEO ecosystem to run on the Celer Network by early 2020 – including distributed exchanges, payment channels and games.

The NEO blockchain has a large user base and community around the globe, with a deeply rooted and long history in China.

Source:ambcrypto

Neo

Future Forecast For NEO Price |2020 | 2025 | 2030

In this post, we will present our own and market’s opinion on NEO future while discussing NEO price forecast for 2020 and beyond.

Since this year is almost up, NEO price prediction 2020 is way more interesting, so we made sure to include that section as well, just make sure to scroll all the way to the end.

Now, let’s get to it.

Before we delve deep into the NEO price prediction and answer questions if NEO is a good investment or not, why will NEO succeed or fail or while will NEO price rise or drop, let’s quickly do a brief on NEO and its to date history.

Content

NEO Intro

NEO is a next generation of blockchain, a smart economy platform that has had a monumental rise to fame and most know NEO for its explosive growth. You have probably heard a shabby phrase describing NEO as the “Chinese Ethereum”, pointing out similarities between the two platforms, mostly their ability to create, run and store smart contract code and decentralized apps or dApps..

NEO is a blockchain platform and cryptocurrency, which is designed to digitize assets using smart contracts, aiming to bring blockchain to the masses. NEO essentially plans to recreate real world economy into a digital, smart economy where all assets are now digital assets you can easily move, transfer, split into tiny pieces etc.

It supports common programming languages like Javascript and C++, with improvements to its technology, making it less vulnerable to hackers than Ethereum. The NEO’s goal is to become No. 1 blockchain project by 2020. Apart from the NEO cryptocurrency, NEO has one more crypto-token called GAS that is used to pay for transactions on the blockchain.
Just like how Ether is used on the Ethereum network, GAS is used on the NEO network.
By holding the NEO coin in your wallet, you earn GAS which can be used to make transactions on NEO’s blockchain.

Some of the key features of NEO are:

  • Unlike most other cryptocurrencies, the NEO coin cannot be divided. So, you cannot make a transfer like 0.5 NEO or 0.11 NEO. NEO can be considered similar to the stocks of any company, which cannot be divided.
  • it is allegedly in good graces of Chinese governments although there was never official support nor denouncement of NEO by the Chinese authorities.
  • While Ethereum allows the programmers to code only in one language — Solidity, Neo allows developers to code smart contracts using C++, C#, Go, Java, and other common programming languages.

NEO is currently hovering around the spot 20 in the cryptocurrency market, ranks are tracked and measured by respective market cap of the coins. Price of NEO has suffered huge losses in 2018 and 2019, just like the whole market itself, although NEO recorded a nice surge in November, upon the news that Chinese government plans to support and invest in blockchain technology in the future.

Our NEO Price Prediction for 2020

NEO, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, NEO can hope for one as well. Since that is very unlikely, don’t expect much to change for NEO price-wise in this year. So 2020 will be a year of boring sideways action with minor bitcoin ignited jumps and slumps.


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NEO-BTC price correlation

Correlation is measured on a scale from -1 to 1. Values above 0 shows the degree to which altcoin is moving in the same direction as BTC prices (either up or down in tandem), and values below 0 shows the degree to which altcoin moves in the opposite direction of BTC prices (so when BTC goes down, altcoin goes up, or vice versa). Values around 0 shows that when BTC price moves, altcoins stays steady, or alternatively that when altcoin moves up or down that the BTC price is staying steady.

NEO has had a correlation coefficient of 0.90+ for the most of its market life, as shown on the image below – source.

neo-btc correlation

Overall, the price change of any altcoin token is explained by the dynamics of the bitcoin-influenced market. However, there are also fundamental reasons for the individual token rise and fall in price, which can be pinned down to a big tech upgrade or more often, big partnership.

The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market. 

Vitalik Buterin, co-founder of Ethereum said:

“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”

Neo Coin (NEO) Future Outlook

However, not all projects have the same chance of failing (risk), nor do they have the same potential upside (reward).

As a result of ICO teams’ incompetence and lack of integrity, fueled by basic human instinct that is greed and crypto investors’ naivety, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will NEO be among those 5%?

That is one of the tougher predictions to make as there is a lot to like and dislike about NEO. If we were forced to make a call, we would say yes, NEO is one of the rare projects with a healthy future prospect.

There are two major points that will affect NEO destiny and we will cover them in detail in the following sections of this NEO price prediction guide. Fans of “chinese Ethereum”, get ready, we are about to answer the burning questions.

Why will NEO fail?

Potential vector attacks on NEO existence are worth considering. Here are some of them.

First, regulatory actions. In terms of risks NEO’s biggest dangers certainly comes from the Chinese authorities attitude to cryptocurrency and the success or failure of ICOs on her network. If the Chinese government declares a total crackdown on cryptocurrency then NEO may well be forced to move to friendlier environments and the price may suffer. Any failure of NEO backed ICOs could also reflect badly on the blockchain and could potential raise questions about NEO’s long term viability.

Second, the transfer from centralized to decentralized network. NEO has marked this year as the date for making this big leap, from being a centrally controlled network to an actual permissionless, censorship resistant blockchain. If this move pans out well and the network actually satisfies the basic conditions of decentralization – NEO will get a big legitimacy boost for their future.

For now, we can state the obvious: NEO is still a centralized blockchain with couple of bigger incidents from the past under its belt (the network was offline on two occasions, there were some apparent coding mistakes revealed as well).

Why will NEO succeed?

Reasons for why will NEO go up and rise in price are also worth mentioning.

It is led by a relatively reputable City of Zion and NEO Foundation and personas that paint a professional picture in public. There are regular events, hackathons, communication with holders is good, community management is also good, dapps ecosystem is growing with couple of them already building up a solid name for themselves (Travala, Switcheo etc).


All of this indicates that NEO has a solid team behind the project that has a really steep mountain in front of itself that needs to be conquered. Holding NEO in 2020 and beyond is a high risk but even higher reward situation. So, if your investing profile mixes well with this type of asset, NEO and your portfolio would fit like a hand and glove.

Will NEO reach $100 or $1000 or at least its previous all time high?

Every option is a possibility but with different probability of happening. Should bitcoin enter a bull run similar to the one from 2017, NEO can surely climb up to its previous all time high, easily surpassing the $100 mark. Reaching $1000 is a much tougher mountain to surmount and is a far-fetched possibility.

Is NEO dead?

No, judging by the team activity on social media, github, their own website. Their communities on Reddit and Telegram are also active, although much lower engagement levels are noticeable when compared to 2017. Coin is also still listed on all major exchanges which indicates that NEO is far from a dead project.


All of this summed up means one thing: NEO might live through couple of orchestrated and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.

Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect NEO will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.

Market prediction for Neo – NEO Price 2020

With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.

Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the NEO price, which will give us another point of view to consider:

 Crypto-related resourcesNEO price prediction
#1Being CryptoIncrease to:
$200 by the end of 2020;
$450 in five years
#2SmartereumIncrease to $1275 in five years
#3Long ForecastIncrease to $21 by the end of 2020
#4Crypto GroundIncrease to $195.352 in five years
#5Coin FanIncrease up to
$783 by the end of 2020

CryptoGround

Cryptoground.com is cryptocurrecy prediction algorithm that is moderately to overly bullish on most of coins, similarly on NEO token as well. They forecast NEO to climb up to $12 per token by EOY, which means a small increase in comparison to the current price.

Wallet Investor

Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies and traditionally has a skeptical outlook for most coins, but not for NEO. According to them, NEO is expected to rise by more than 4x – from the current $9.37 to $56.27 by the end of the year.

Trading Beasts

Trading beasts is on a diametrically opposite side of Walletinvestor and sees a much more bullish future for Neo token. Their algo forecasts that NEO can ascend to around $25 within a year which means it will essentially grow 2.5x in value in the next year.

Digitalcoinprice

Another crypto prediction algorithm that is most conservative in its approach of the 4 we enumerated here – DCP usually predicts price to hover around the same level as the current state, forecasting a twofold increase or reduction for certain coins. NEO is on the bullish side of their algo that sees it reaching $16,50 per coin by December 2020.

Neo Coin Future: 2023, 2025, 2030

NEO Price Prediction 2023

NEO has been one of the most hyped crypto projects that was a true media darling even during the peak of 2017 crypto frenzy that spawned thousands of new coins. However, despite the big hype built behind it, there is a shroud of doubt around the token’s viability and general competence of NEO team to pull off the laid out plan. Long-term NEO seems to be a risky investment and price in 2023 might float around the same level as now – $9.37.

NEO Price Prediction 2025

If NEO survives to see 2025, the token would surely be at 10-100x of the current value which means it would be at $90 – $900 per token.

NEO Price Prediction 2030

Again, should NEO survive to see 2030, the token would surely be at 100x+ of the current value which means it would be at $900+ per token.

Realistic NEO Price Prediction

Predicting prices of novel, highly volatile and risky asset classes is a thankless task – best answer is no one knows. Educated guess is that realistic NEO price for the foreseeable future is somewhere between its current price and its all time high of $160.

Conclusion

We don’t yet know which crypocurrencies will make it out of the crypto winter we’re wandering in right now. There are plenty of coins that stand a good chance of weathering the crypto storm and perhaps becoming more relevant as the market contracts and devours some of the weaker projects. However, there are even more of those projects who are already dead but no one noticed yet.

But, looking at things from this point in time and place, it’s reasonable to say that Neo had its five minutes of glory that was based on nothing but hype. It is now time for NEO to step up and actually deliver something valuable and palpable to justify the past and possible future hypes.

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NEO Price Analysis: NEO/USD bullish following Binance Futures support

  • NEO’s bullish momentum stalls around $15 as sideways trading kicks off.
  • NEO/USDT perpetual contract trading starts on Binance Futures.

NEO is in the green on Monday during the European trading session. The bullish momentum is taking action after a couple of days of the bulls enduring battering from the bears. The losses on Sunday and Monday tested the support at $13.00. However, an ascending trendline support came in handy and put a stop to the bearish pressure.

Advancement towards $20 appears to be losing momentum at $15. Besides, the $16 level is an immediate seller congestion zone that must come down for gains towards $20 to materialize.

The bulls remain relatively in charge at the time of writing. The RSI at 64, although in levels lower than those seen last week, shows that the bulls have the power to hold above the first support at $14.00. Besides, the bulls’ position and influence are reflected in the gap between the 50 SMA and the 200 SMA. Therefore, the price will remain in the hands of the bulls but further movement north will require a significant boost.

Binance Futures launches NEO perpetual contract

Binance Futures, the platform that offers future contracts trading for various cryptoassets has added support for NEE perpetual contract (NEO/USDT). Trading of the contract started on Monday and gives an opportunity for traders to access up to 50x leverage.

NEO/USD daily chart

  • NEO’s bullish momentum stalls around $15 as sideways trading kicks off.
  • NEO/USDT perpetual contract trading starts on Binance Futures.

NEO is in the green on Monday during the European trading session. The bullish momentum is taking action after a couple of days of the bulls enduring battering from the bears. The losses on Sunday and Monday tested the support at $13.00. However, an ascending trendline support came in handy and put a stop to the bearish pressure.

Advancement towards $20 appears to be losing momentum at $15. Besides, the $16 level is an immediate seller congestion zone that must come down for gains towards $20 to materialize.

The bulls remain relatively in charge at the time of writing. The RSI at 64, although in levels lower than those seen last week, shows that the bulls have the power to hold above the first support at $14.00. Besides, the bulls’ position and influence are reflected in the gap between the 50 SMA and the 200 SMA. Therefore, the price will remain in the hands of the bulls but further movement north will require a significant boost.

Binance Futures launches NEO perpetual contract

Binance Futures, the platform that offers future contracts trading for various cryptoassets has added support for NEE perpetual contract (NEO/USDT). Trading of the contract started on Monday and gives an opportunity for traders to access up to 50x leverage.

NEO/USD daily chart

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NEO Price Analysis: NEO/USD regains ground above $14.00 as Binance launches NEO/USDT futures

  • NEO/USDT will become available on Binance Futures with x50 leverage.
  • NEO/USD stays range-bound as recovery is capped by SMA200 1-hour.

NEO/USD topped at $16.72 on February 14 and hit the recent low of $13.41 on Sunday amid global sell-off on the cryptocurrency market. At the time of writing, NEO/USD is changing hands at $14.16, down over 8% on a day-to-day basis. NEO now takes the 18th place in the global cryptocurrency market rating with the current market value of $1 billion and an average daily trading volume of $1.15 billion, which is mostly in line with the recent figures.

NEO goes live on Binance Futures

According to the recent announcement made by Binance, perpetual futures contracts on NEO/USD goes live today, at 08:00 AM (UTC).

#Binance Futures Will Launch @NEO_Blockchain $NEO/USDT Perpetual Contract With Up to 50x Leverage

Binance has been adding new coins to its marginal trading platform since the beginning of the year. While this is typically good news for as asset, the market showed little reaction to the announcement due to global bearish sentiments.

NEO/USD: Technical picture implies range-bound trading

From the intraday point of view, BTC/USD created a double bottom at $13.70 and managed to recover above $14.00. The next resistance is created by SMA200 1-hour at $14.50. Once it is out of the way, the upside is likely to gain traction with the next focus on $15.00. This barrier is reinforced by SMA50 on 1-hour and 4-hour charts and the upper line of 1-hour Bollinger Band. It is closely followed by the next resistance at $15.30 (SMA100 1-hour and the middle line of 4-hour Bollinger Band).

On the downside, a sustainable move below $13.70, the double bottom spotted on 1-hour chart, NEO/USD may extend the decline towards $13.40 (SMA100 4-hour) and psychological $13.00. If this support is broken, the sell-off may continue towards $12.50 (SMA200 4-hour).

The RSI on intraday charts stays flat in a neutral position, which means that the coin may stay range-bound in the nearest sessions.

NEO/USD 1-hour chart

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