Aphelion, the decentralized Exchange that offered to pair trades with NEO blockchain has announced its disappointment. This project is forced to freeze the development right away. CEO Ian Holtz stated the same reasoning lack of funds and low exchange volume. Will the freezing the development affect the market of NEO? Are we going to see less of the supplies in the network?
How is the NEO market performing after such a dip?
Let’s understand the same with the NEO price analysis:
Neo Price Statistics on 5th June 2019:
The value of NEO coin is trading at $11.73 at 9:11 UTC on 5th Jun. The Return on Investment on NEO is calculated at 6322% for the traders. The market ranking of the coin is positioned at number 18. The circulating supply of the NEO coin is 70,538,831 NEO against 100,000000 total supply of NEO.
The market cap value of NEO is USD 822,181,194. The 24-hour volume is USD 609,050,889.
Neo Coin Comparison:
However, it is not always deemed to happen that long term investments will fetch great returns. But the short term seeding can bring some results. Comparing the data from the past five days, the highest was realized on 1st June, which values at $14.27 and the lowest on 4th Jun at $11.01 respectively. The market has dropped to 17.94% from the highest and increased to 6.36 % from the lowest respectively.
Such a statistical analysis is surely gaining the attraction of the traders expecting to witness profits from short term holding. And this time might not be bad enough to buy some new NEO coins.
NEO Price Prediction and Conclusion:
To state the rumors, NEO coin might not be able to reach out $50. However, reaching to $20 might be realized by the end of the year. However, it is highly advised to play under the resistance & support field only. After a certain dip, the market is gradually moving towards the upward zone. Let’s hope that it brings some better fruits in the portfolio as well.