NEO Now 16th in Market Cap With Another 7% Price Rise, DevCon in February

Siamak Masnavi

The price of the NEO token, which is the base asset of the NEO blockchain (also known as "Chinese Ethereum"), has gone up another 7% to $9.71 in the past 24-hour period, powering NEO past both NEM (XEM) and Ethereum Classic (ETH) in the market cap table, thereby making it the 16th most valuable cryptocurrency. 

In fact, what is even more impressive is that, according to CryptoCompare, as can be seen in the chart below, the NEO price has gone up around 53% in the last 30 days, from $6.34 (10 December 2018, 09:00 UTC) to $9.71 (9 January 2019, 09:00 UTC), making it one of the best performing cryptocurrencies over this period:

NEO - 30 Days - 9 Jan 2019.png

One possible reason for NEO's strong price action over the past few weeks is the excitement in the NEO community over the upcoming annual developer conference, "NEO DevCon 2019", which is being held February 16–17 in Seattle, United States. At this conference, NEO's founders are expected to share "new roadmap and platform innovations, and showcase how the global NEO blockchain community is bringing the Smart Economy vision to life."

Another partial explanation might be that on Monday (January 7th), NEO's official Twitter account announced that according to "the latest yearly ranking released by China’s Center for Information and Industry Development (CCID), which is under the country’s Ministry of Industry and Information Technology," NEO was listed as a Top 10 Public Blockchain:

 Yet another reason might be the tweets sent out on January 3rd by Erik Zhang, founder and core developer of NEO, about the planned upgrade to NEO's consensus algorithm "Delegated Byzantine Fault Tolerance" (dBFT):

As for what else NEO HODLers can look forward to in 2019, here is a nice list presented by user "Edgegasm" in the thread "Next milestone?" in the "/r/NEO" subreddit:

"Based on current discussions/developments/announcements, we should expect to see the following in 2019 at minimum:

  • Decentralization of remaining consensus nodes that are currently operated by NEO (at least 4 of the 5, they should probably keep one)
  • Node stability improvements (will improve TPS)
  • Node recovery system (let a node rejoin consensus automatically in the event of a disconnect)
  • Third consensus phase (commit phase, to prevent 'sporks')
  • Light wallet voting implementations (likely in Neon first)
  • NeoFS candidate beta (NEO SPCC's DDSP).

Other possibilities for this year (speculation):

  • Network analytics
  • Additional nodes added in batches of 3 (taking us to 10, 13 etc)
  • Other performance improvements (for scalability)
  • Block explorer improvements (neo-scan)
  • NeoID and NeoX details (maybe not ready for release, but it's not beyond reason either)"

Featured Image Courtesy of NEO Team

Justin Sun Congratulates CZ on Binance Coin (BNB) Price Setting a New All-Time High

On Saturday (April 20), Justin Sun, the Founder and CEO of TRON Foundation congratulated Changpeng Zhao (aka "CZ"), the CEO of Binance, and the rest of the Binance team on the Binance Coin (BNB) price breaking its previous all-time high (ATH), which had been set in January 2018.

This was the tweet Justin sent out at 08:54 UTC on April 20:

CZ replied with this tweet:

According to CryptoCompare, at 07:05 (UTC), the BNB price reached the new ATH of $25.42, as can be seen in the 24-hour price chart shown below:

BNB - 24 Hour CC Chart - 20 Apr 2019.png

As CryptoGlobe reported on April 18, there have been quite a few catalysts behind the impressive rise in the price of BNB over the past three months, a few of which are listed below:

  • High successful initial exchange offerings since January 28 (BitTorrent, Fetch.AI, Celer Network) via Binance Launchpad.
  • Ever-expanding list of use cases for Binance Coin.
  • Regular quarterly BNB token burns (the 7th one was reported by Binance on April 16).
  • Successful mainnet launch of Binance Chain (on April 18), with the swap from ERC20 BNB tokens (on Ethereum) to BEP2 BNB tokens (on Binance Chain) expected to begin on April 23 at 00:00 (UTC).

With regard to future BNB price catalysts, since Binance seems to be betting its future on Binance Chain, the main ones are probably:

  • a successful token swap process (i.e. from ERC20 BNB to BEP2 BNB);
  • existing projects, such as decentralized social media platform Mithril, announcing their migration to Binance Chain; and
  • new projects deciding to adopt Binance Chain.

Finally, if you are a BNB token holder and you are worried about how to prepare for the mainnet token swap, the best advice comes from Binance:

 

Featured Image Courtesy of Binance