NEO is the first Chinese cryptocurrency to gain global acceptance, and as a result, has generated huge amounts of interest – both in terms of investment and media coverage.
NEO was founded as AntShares by Da Hongfei and Erik Zhan in China in 2014 and was rebranded as NEO in June 2017. It is a blockchain-based platform that supports its own cryptocurrency and enables the development of digital assets and smart contracts. In that respect, it resembles the Ethereum blockchain.
NEO aims to automate the management of digital assets through the use of smart contracts, with the eventual aim of building a distributed network-based smart economy system.
NEO theoretically describes its Smart Economy System as:
Digital Assets + Digital Identity + Smart Contract = Smart Economy
One of the unique selling points of the Neo blockchain concerns its continuous development, which helps ensure that it is futureproofed and able to cope with sudden increases in demand. The project has developed Neo 3.0 enhancing network security and allowing a greater number of transactions per second to be processed.
The network has two native tokens: NEO and GAS. While NEO serves as an investment token and allows people to participate in votes concerning improvements to the blockchain, GAS is used to pay fees for the transactions that are being completed on the network.
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We decided to predict NEO coin due to its greater trading volume and liquidity.
Greater trading volume equates to more trading activity (selling and buying) and is, therefore, a liquid market and they influence the price of NEO. Liquidity refers to how easily an asset can be bought or sold at a stable price on a given market. The quicker you can sell off an asset as close to your asking price as possible, the more liquid an exchange is considered to be.
Liquidity is effectively a measurement of the ability to buy or sell a particular asset at its current fair market value. For example, if you have some NEO and want to trade it for USDT, there needs to be enough demand on the other side of the order for you to be able to make the sale at the current exchange rate.
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