Neo has broken through the storm and remained steady going up in price for the past month. Last week saw a major sell-off with the spread of fake news in South Korea of a ban on cryptocurrency trading.
Additionally, the Chinese government has announced plans to come down on mining operations under a number of aspects, including electric usage and land tax reforms. South Korea and China have completely banned ICOs, and Japan is considering following this path. Several number of high-profile ICO scams have hit investor confidence and dented credibility in the cryptocurrency market.
So what are the possible factors for NEO’s break-through in this market-wide correction? More and more ICOs are looking to launch on NEO rather than Ethereum, the reason for this is it’s faster and no transaction fee. NEO’s GAS tokens will be used by ICOs to drive their smart contracts. The Holders of NEO earn dividends from the use of GAS tokens.
Additionally, programmers looking to code smart contracts on ETH need to learn that platform’s proprietary programming language Solidity. NEO, however, is written in Java and C#, making it more accessible to dev’s wanting to join the community to support its development.
A dev conference has been planned for the end of this January in San Francisco where the community plans to come together according to their website.
“With multiple sessions and workshops NEO DevCon is bringing the NEO community together for a 2-day conference full of innovative ideas and projects, featuring many top speakers from the Blockchain space.”
Long-term investors in the crypto market are no strangers to this market volatility and a lot consider it part of the growing pains of an emerging market. Although, this current run sees no signals of reducing.
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