A predominantly red picture is being painted again today during the Asian trading session. Only one altcoin in the market cap top ten is in the green and it is joined by only two others in the top 25. We know things move fast in crypto land and the morning’s leader of the moment is NEO.
According to Coinmarketcap NEO is up 5.4% over the past 24 hours. It has shown a slow but steady increase over the past day while most of its siblings have lost ground. Zooming out to the weekly chart we can see that NEO has made strong gains of over 40% on the week. Starting out this time last week trading at $113 it has climbed to an impressive weekly high of $170 before falling back a little to $166 where it currently trades.
One thing to note is that while a lot of other altcoins, and especially Bitcoin, have had major losses NEO is still near to its all-time high of $190 just after New Year. NEO has often been referred to as the Chinese Ethereum, it is an open network for smart economy. It is continually growing in adoption for new dApps and ICO projects as developers turn to alternatives to Ethereum.
NEO is a low supply coin with 100 million total and 65 million circulating. South Korean trade is currently driving momentum with the Upbit exchange taking the lion’s share at just under 40%. Binance is the second most popular exchange for NEO with just under 20% of the total.
More info on Neo can be found here: https://neo.org/
FOMO Moments is a new section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.