A lot of things are happening in the blockchain world. New marketplaces on NFT, N3 launch and the integration of NEO with a Chinese blockchain service network are introducing a lot of investor facilities.
Many layer-1 blockchain protocols are being introduced by new entrants to offer an expanded services array to investors. These are expected to tackle issues like lowering transaction costs and speed up processing time. Old projects are using historic data to work on new avenues so that they can secure a part of the market and ensure survival.
NEO is one such company and this particular project is trying to stage a 2022 revival. This, as governments around the world are coming to terms with the fact that blockchain and cryptocurrencies are here to stay. Governments and central banks are looking at the capabilities and benefits offered by crypto and blockchain and how they can be integrated with enterprises, public or private.
Data gleaned by TradingView and other analysis companies note that NEO prices have gone up by 60% to touch $25.68 on February 11th. NEO prices were at their lowest of $16.10 on January 24th. NEO’s prices are expected to keep rising as the project’s trading volume spiked to touch 292% today, February 17th.
There are four specific reasons for this increase in demand for NEO services – NEO blockchain adoption by the China’s BSN (Blockchain-based Service Network) and the launch of many NFTs. The other two reasons are a full rollout of NEO’s N3 and several DeFi projects on the network. Another recent and significant development is the inclusion of the Jiuquan Chain, one of China’s most important mainnet chains. All of these developments are good news and already changing the cryptoverse.