Crypto developers constantly create enhanced ecosystems capable of bridging gaps and offering broader functionalities on the blockchain. One of such networks is NEO, a popular blockchain hub for decentralized applications.
The NEO blockchain emerged after Ethereum to simplify the development of decentralized applications. Since emerging in 2014, NEO has gone through rebranding, upgrades, price growths, and value fluctuations.
But how is NEO performing in value and price movements in recent times? Have regulations, market movements, and negative trends affected NEO prices? What will be the possible price of NEO in the years to come?
Find detailed answers to these questions and more on NEO price prediction guide below. You will also discover long-term forecasts from 2022 to 2030.
What Is NEO (NEO)?
NEO is a China-backed blockchain that facilitates the development of decentralized applications. The network emerged in 2014, a year after the launch of Ethereum. NEO mimicked most of the features of the Ethereum network in terms of housing other cryptocurrencies and enabling smart contracts to facilitate transactions. That's why NEO is called the "Chinese Ethereum."
A unique feature of the NEO blockchain is the usage of two cryptocurrencies, GAS and NEO tokens. The NEO tokens are utilized for making decisions, staking, holding, spending, or sending to other wallets.
On the other hand, GAS tokens are used for transactions and to pay for block rewards from staking. To earn GAS tokens, you can stake your NEO tokens. Notably, when the NEO price and GAS price increase, you'll make gains from both depending on your stake capital.
Unfortunately, users cannot mine NEO tokens, as all were distributed during the Initial Coin Offering. You can only engage in a liquid stake to earn GAS tokens.
A brief history of NEO blockchain and crypto
NEO was first launched as Antshares in 2014. In 2015 the network became an open-source blockchain on GitHub, and later that year, the developers released the whitepaper. The founders of NEO blockchain and NEO Foundation are Erik Zhang and Da Hongfei.
In 2017, the network was rebranded to NEO, with a more expansive goal of issuing and managing digitalized assets. It was positioned to support the development of decentralized applications. NEO utilizes blockchain technology and the mechanisms of smart contracts to facilitate its goals.
NEO was the first blockchain in China, and the government embraced it. Notably, in 2018, Onchain, the parent company behind NEO, distributed Ontology token (ONT) to the network token holders. Each 5 NEO token in a user's wallet earned him 1 ONT, a governance token to be used for many decisions on the network.
What protocol does NEO use?
NEO on-chain operation uses the proof-of-stake dBFT (decentralized Byzantine fault tolerant) consensus mechanism to validate transactions. The consensus is derived from the approved nodes on the network that can support 10,000 TPS.
NEO holders are responsible for choosing the consensus nodes, and each one must maintain a specific threshold of NEO tokens and meet set performance requirements. Also, the nodes are trusted to act in the network's best interests.
dBFT consensus mechanism supports a large volume of transactions, and the resources requirements are lower than that of Bitcoin and Ethereum. NEO was the first crypto network to utilize dBFT
What makes NEO different from other cryptocurrencies
NEO has distinct characteristics that differentiate it from others. Some of these differences include;
- Two native tokens
NEO is the only network that operates with two native tokens, GAS and NEO. While the former is the token used in paying for transaction fees, the latter is used for holding, sending, staking, and participating in decision-making.
NEO is regulated, and that's why the network survived the Chinese government's clamp down on crypto operators. It is a centralized system stemming from using the Onchain technology with a controlled structure.
- Development fund
NEO supports other emerging projects with a high potential for success. The fund EcoBoost was launched in 2019, and it provides full life-circle support for newer projects by offering promotions, grants, and technical support.
- Coding smart contracts
NEO supports the easy development of decentralized finance applications. It simplifies the process by providing access to a virtual machine that makes smart contract programming easy. It allows smart contracts in Python, C#, Java, and many coding languages.
NEO blockchain at a glance
Critical Factors Influencing NEO Price Prediction
Regarding NEO price prediction, several factors are responsible for its fluctuations in growth and downtrends. Check them below:
The demand for a cryptocurrency influences its growth trend and price prediction. But the May 2022 crypto winter has discouraged many investors from infusing funds into the crypto market. The bearish trend caused by the interest rate hike led to many sell-offs and massive losses. Even though the market started recovering some months later, many of the cryptocurrencies still see a drop in value.
NEO is one of the cryptocurrencies that recorded massive drops in value and demand. Its trading volume went down to $45,152,982 on August 13, showing a 19.94% fall in 24 hours. This is the effect of the crypto winter caused by inflation, the Federal Reserve rate hike, and the crash of Terra LUNA.
But the demand for NEO might also increase. By supporting diverse blockchain solution use cases, and maintaining its dBFT consensus mechanism, the need for NEO and GAS tokens will keep rising. With higher demand, the value of the crypto might increase as many people will see the need to hold it. On this premise, experts make optimistic NEO price predictions in the next ten years as bullish.
NEO has a supply cap of 100,000,000 tokens, and the circulating supply stands at 70,538,831.00 NEO. Its operations make it impossible to mine new tokens, given that all available coins were distributed during the initial coin offering (ICO).
This means that the demand for NEO tokens might get to a point where it surpasses its supply by a very wide margin, leading to a price increase. This is why NEO price predictions by experts suggest that crypto is a good long-term investment option.
The macro-environment affects NEO price prediction as its effects can be felt in demand for crypto. Issues such as crypto regulations, global market sentiment, platform failure, and overall negative sentiments following cryptocurrencies can lead to price drops. For instance, The crypto market crashed following the announcement by the Feds to hike interest rates.
But then, analysts are optimistic that a change in market sentiment plus a drop in inflation will lead to a recovery in the cryptocurrency market.
NEO emerged a year after Ethereum with a unique quest to create a smart economy for the future. The network was referred to as the Chinese Ethereum, but it seemingly didn't surpass its predecessor. It now faces competitors such as Ethereum, Solana, and Cardano ADA.
Unfortunately, NEO has a lot of pitfalls, such as zero support from microtransactions and low TPS at 1000TPS. Also, developers face many costs in deploying smart contracts on the NEO blockchain.
The green light, however, is that migration from NEO Legacy to NEO N3 increased its TPS to 5000 and lowered gas fees by 100X. But even at that, NEO still lags behind Ethereum with its plans to migrate to the proof-of-stake consensus mechanism in September 2022.
NEO Price Performance In The Past, Detailed Movements
NEO has witnessed price uptrend and downtrends since its ICO in 2016. During the initial coin offering, the price of 1 NEO was $0.02, lasting from August 8 to September 9, 2016, raising nearly $5 million.
Also, in 2016, Onchain, the parent company behind NEO, partnered with Microsoft in what was called a "Technology Strategic Partnership." The agreement led to collaborations on multiple crypto projects.
NEO started its journey on crypto exchanges in 2017 following the rebranding from Antshares. It also recorded US-based support in the form of its listing on Bittrex. In 2018, NEO partnered with VALD, a digital ID platform, leading to a price growth above $100.
From then onwards, NEO has recorded major and minor price trends. NEO price on CoinMarketCap from October 9, 2016, showed the coin selling at $0.391. On October 21, NEO recorded an all-time low of $0.07229, and by January 15, 2018, NEO's price hit an all-time high of $196.85.
Some of the factors that pushed NEO price prediction include:
In 2020, NEO's price stood below $10 when the year began. By March 13, the price of the crypto dropped to $4 on Bittrex. By September 18, 2020, NEO bounced back to $25.90, but it dropped to $14 as the year closed.
The notable cause of the downtrends in 2020 was the coronavirus pandemic that shook the foundations of the world. As BTC fluctuates, so do other cryptos.
Partnerships & upgrades
Another notable event that spiked NEO price prediction was the partnership with BSN (Blockchain-based Services Network). News of the event catalyzed a bullish price trend for NEO.
In 2021, NEO also recorded some price volatility. NEO's price at the beginning of the year was $14.25. But in April, Bitcoin rose massively, leading to a price uptrend for NEO. Also, in 2021, the developers released the Go Node for NEO N3.
The People’s Bank of China declared crypto as "Investment tools," causing a NEO price increase from April 19 to May 7. The bullish trend saw the NEO price at $140.77 before it fell on July 20, 2021, to $25.03. The crash was partly due to Bitcoin's price downtrend in mid-May 2021.
By September 2021, another NEO price prediction for an upward trend occurred. The crypto price crossed the $60 price mark. Unfortunately, a correction began leading to a long-term downtrend until March 7, 2022, when the price fell to $20.
Overall crypto market crash
NEO price managed to stay between $20 and $24 until April 27, 2022, when the price fell below $20 to $18.55. During the crypto winter in May 2022, NEO prices continued to fall as other cryptos in the market. It first dipped below $10 on May 19 but rose above it again until June when it fell below the marl.
Thankfully, as the crypto market began a gradual upward trend, NEO price crossed the $10 mark once again. Even though it is still far from expert prediction, many upcoming events can still make NEO price prediction for 2022 come true.
The period of 2022 has been all of a struggle to remain afloat for the price of NEO as the crypto winter has brought more of a downtrend for this crypto asset as the price saw a downtrend movement of more than -85% as the price struggled to hold above $5. With the market looking promising for the upcoming months, we could see the price bouncing off the region of $6 to a high of $8-$10.
How Is NEO Crypto Doing Now? Is NEO Coin Bullish Or Bearish?
NEO price, currently, on August 15, stands at $12.09, showing a price increase of 0.033%. From the above chart, it’s clear that the crypto saw a price movement towards the greens at midday on August 13, when it peaked at $12.20. But the same day, the NEO token closed at $11.97. As of press time, it has gained 0.30%, pushing the price above $11 to $12.08.
Since May, the overall crypto market has been bearish, and the effect was seen on all the cryptocurrencies in the market. However, NEO price could become bullish once the crypto market recovers.
Also, when the NEO-powered Jiuquan Chain is included in the Chinese mainnet, the positive NEO price prediction might take off. This mainnet is expected to open access for Chinese citizens to invest in NFT markets compliant with Chinese regulations and operating on the BSN Open Permissioned Blockchain.
Notably, as the network migrates fully from N2 to NEO N3, there is a possibility of reaching the positive crypto prediction. Many NFTs and DeFi protocols are set to launch on the latest version of NEO network. According to expert technical analysis, all these developments might push the crypto price up.
Long-Term NEO Price Prediction For 2023
Experts believe that after the crypto winter, the market will successively rebound. Moreover, by 2023, NEO developers must have completed moves to N3, thereby housing many DeFi and NFT projects. But will this milestone boost NEO price? Check NEO price prediction for 2023.
Month by month Neo price prediction for 2023.
Long-Term NEO Price Prediction For 2023 - 2030
Many experts believe that in five years and more, the crypto markets will see a complete rebound from the recent crypto winter. Also, as crypto use cases increase, the need and value for digital assets will more likely skyrocket following regulations. Will these upcoming expectations affect the Chinese Ethereum or not? Let’s check the long-term NEO price prediction from 2023 to 2030 below.
Long-Term NEO Price Prediction By Experts
It helps to get as many opinions as possible about NEO from crypto experts to guide your decisions. But don’t forget these analysts are humans and are not infallible. So it’s good you decide after researching new insight in the market.
Price prediction by Long Forecast
Long Forecast predicts a bearish trend for NEO price in 2022. The agency forecasts that the crypto will move downwards in price and will hit $8.46 by December 2022.
Price prediction by Coin Price Forecast
According to Coin Price Forecast, NEO price will hit $37.45 by the end of 2022. In the first half of 2023, the analysts foresee the crypto price dropping to $36.28 and also losing $5.25 in the second half. At the end of 2023, Coin Price Forecast expects the NEO price to be $31.03.
Price prediction by ICOcreed
ICOcreed predicts that the minimum NEO price in 2025 might stand at $74.93. The analysts also reiterate that this value might increase to see the price hit a maximum of $90.60. But the average price will eventually stand at $77.09 all through 2025.
Price prediction by WalletInvestor
WalletInvestor foresees a long-term increase for NEO. The analyst opines that the NEO price will hit $99.404 in 2027. On that note, they advise investors to make crypto a 5-year investment option with the expectation of +307.48 in revenue.
Price Prediction By Margex Technical Analyst
The Margex margin trading platform and its professional technical analysts have all the tools to perform detailed technical analyses on crypto prices, including NEO. Analysts have used the same tools to forecast NEO price movement for the upcoming months.
But remember that these price predictions can change given the market sentiment and other factors. Also, don't see these predictions as investment advice—instead, research NEO prices based on history, events, and developments to come to your conclusions.
NEO started its price correction in September 2021 after hitting the $60 mark. The price of the crypto began a downward trend until it hit the lowest level below $10 on May 19. But as the market gradually recovers from the crypto winter, NEO price has seen a little push to $12, although it is struggling to remain steady.
But given that the network operates with the Byzantine fault tolerance algorithm, it's likely to record an increase in demand, increasing the crypto to $15. The algorithm reduces the risks of hacks and improves transaction speed and scalability.
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NEO has some similarities to Ethereum, and sometimes it gets confusing differentiating the Find the answers for the questions related to NEO price prediction below.
What will be NEO price prediction in 5 years?
Analysts believe that NEO price will hit $45 by the end of 2026. NEO and many other cryptocurrencies will record price growth, since the market is expected to recover from the crypto winter effect. Also, there are expectations of more adoption stemming from possible crypto regulations.
Is NEO a good investment?
NEO can be a decent long-term investment, given that upcoming events and development could push its value up. Being a hub for DeFi and NFTs, NEO price could increase after a full migration to the N3, a more scalable, fast, and secure version of NEO.
What price can NEO reach?
NEO price could reach $23 by the end of 2023 and hit above $300 by the end of 2030. Crypto analysts expect the crypto to record price improvements as more decentralized finance developers utilize its ecosystem. Also, many NFTs many likely be hosted on NEO, and this preference will skyrocket the demand for crypto.
What will NEO be worth in 2030?
According to expert predictions, NEO might be worth more than $300 by the end of 2030. But these predictions can be affected by market forces and other macros, thereby changing the expectations.
What is happening with NEO?
NEO is currently facing a bearish trend due to the effect of the crypto market crash. Its price on August 14 stands at $11.87 after losing 1.58% gains from the previous day’s value. The price has been hovering between $10 and $12 since July 28, when it hit the $10 mark after weeks of trading below $10.
Which cryptocurrency will rise in 2025?
The crypto market is characterized by unpredictable price fluctuations. So, it’s never possible to predict price movement with surety. But based on previous historical datum, some cryptos likely to rise in 2025 include Bitcoin, Ethereum, Chainlink, Cosmos, Binance coin, etc.
Is NEO better than Ethereum?
NEO has always been better than Ethereum in terms of transaction speed. While Ethereum boasts of 15 transactions per second, NEO could handle 10,000 transactions. But Ethereum migration to a proof-of-stake mechanism will increase its speed above NEO.