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NEO is both a smart contract platform and a cryptocurrency designed to build a scalable network of decentralized applications. It was originally developed in China under the name Antshares back in February of 2014. Last summer, they officially rebranded as NEO.
Due to its use of smart contracts, NEO is frequently compared to Ethereum. In fact, because of the similarities and geographic location of its development team – the popular altcoin is often referred to as “Chinese Ethereum” or the “Ethereum of the East.”
However, there are some notable differences between NEO and Ethereum. For example, Ethereum uses a single coding language (Solidity), while NEO allows coders to use a variety of different languages. Moreover, the “Chinese Ethereum” can also process roughly 1,000 transactions per second – significantly more than Ethereum –which can handle around 15.
At press time, NEO is currently the 9th most valuable cryptocurrency by market cap, with a single coin going for around $49 (USD).
While it is already one of the most successful Asian cryptocurrency projects to date, some experts, such as one’s listed below, believe NEO’s value will increase exponentially in the months ahead. Below are three NEO price predictions for 2018 and the years ahead.
Note: This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.
Thomas Lee is is a Wall Street strategist and the Head of Research at Fundstrat Global Advisors. He was one of the first mainstream strategists to cover bitcoin and follows the world of cryptocurrency closely.
“There’s just a lot more potential, right? […] In some ways, if we look at NEO and its development, it looks a lot like Ethereum did at the start of 2017. So there’s a lot of potential for NEO, the NEOs, and even EOSs, to do quite well.
I actually think the easiest use case for cryptocurrencies actually is store of value today, which is bitcoin, but I think that financial corridors are obviously very obvious use case, and I think that’s what these tokens are addressing.”
The Fundstrat advisor has also gone on record, stating that he believes NEO will hit $225 (per coin) by the end of 2018.
The author known simply as The Oracle is a blogger and analyst for the website Life After Blockchain. In an article published back in mid-February, he (or she) offered an extremely optimistic forecast for NEO in 2018.
According to the blogger –NEO’s coding language versatility, speedy transaction time, and its founder’s connections to companies like Microsoft China are significant competitive advantages for the popular altcoin.
In his or her own words,
“My personal target is a $2 trillion market cap for all cryptocurrencies. If we hit that number, we’d be at just 10% of the $20 trillion U.S. GDP. Under that scenario (assuming current coin ratios stay the same), the price of NEO (NEO) would be around $530.48. If we hit 50% of the U.S. GDP, we’d be at $2,680.32 per NEO. At 101% of U.S. GDP, we’d be looking at a future NEO price of $5,360.64.”
If The Oracle does indeed live up to his or her pen name, there will certainly be a lot of happy NEO investors out there.
Dennis Nath is a digital marketer and blogger for the site CryptoUpdates.net. In an article published last December, he provided his NEO price predictions for the next 3 years.
Like our previous forecaster, The Oracle, Nath likes the fact that NEO supports common programming languages and its partnership with some of China’s top tech companies.
However, the digital marketer goes a step further by predicting that it’s “highly possible” NEO will be listed on Coinbase – one of the world’s most popular crypto exchanges. Being offered on Coinbase would allow more casual investors to get in on the action and would likely increase NEO’s value significantly. He also suggests that the altcoin developers may ally with an Asian government – an event that would certainly help push the price point forward.
Nath believes that more dApps (decentralized apps) and ICO’s looking to enter the NEO blockchain – combined with the introduction of NEO-based exchanges like NEX – could lead to the cryptocurrency reaching as high $250 per coin in 2018.
He goes on to claim that,
“Continuing on the uptrend and with further updates and new launches, NEO should reach about $450-700 by 2019.”
Lastly, Nath offers his final forecast,
“NEO can easily touch the $900 or more by 2020. If it can officially get the Chinese government on board on the whole blockchain bandwagon and capture most of the Asian market, well, sky’s the limit.”
To learn more about NEO, head over to our resource page for more background, resources, and info! To read up more on cryptocurrency or blockchain, check out our WTF is Crypto Guide and our What is Blockchain Guide.
For more awesome articles by Jacques Martin, check ’em out here! For other price prediction articles we’ve published, check out our ones for Ether, Bitcoin, Ripple, Dash, NEM, Cardano, Monero, Bitcoin Cash, and Litecoin!