NEO Rallies While Other Cryptocurrencies Fall Over the Weekend [Video]

Kiana Danial, CFP Invest Diva

Today we’re looking at NEO, the only cryptocurrency in top 10 market cap that rallied this weekend. NEO/USD reached all-time high level of $160 while its other major counterparts that it's trailing behind in terms of ranking, such as Bitcoin, Ethereum, Ripple, Cardano, Stellar, and Bitcoin Cash were caught in a bearish sentiment. NEO was created by Chinese developers and is a spinoff of Ethereum, with proprietary technology. It is a next-generation smart economy platform. NEO is often called the Ethereum of China. While both NEO and Ethereum have generalized blockchains that provide a toolbox for would-be developers, their objectives are different.Ethereum’s goal is to create a “more globally accessible, more free, and more trustworthy Internet:” Something like an internet 3.0. NEO is a blockchain project “that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network.” Another difference between Ethereum and NEO is in their transaction speed. In which NEO can process transactions far more quickly than Ethereum. NEO has surpassed $10 billion in market value, ranking 9th globally despite being from a country that has banned cryptocurrencies. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.

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Author

Kiana Danial, CFP

Invest Diva

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert.

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