NEO could turn out to be the best crypto asset for 2020 as it was initially ranked as 19th on the crypto asset leader board, earning the name as the Chinese version of Ethereum. Although it got down by 96 percent from its all-time high of $200, the token is still preferred among the traders so let’s see more in the NEO news below.
Once the Chinese President Xi Jinping called on embracing blockchain technology, the crypto markets pumped. All of the Chinese altcoins were seriously boosted and NEO, in particular, broke out of its 4-month long bearish sentiment and surged from $7 to $12. The altcoin got another boost two weeks after when the trading interest was renewed. Since then, the altcoin experienced a declining interest and has dropped to its May lows. Despite the gloomy market, NEO could turn out to be a top-performing crypto asset in the following year.
Before analyzing the future roadmap by NEO, it is important to remember that the project is working on something really seminal. About a month ago, Ledger collaborated with the Chinese blockchain platform and confirmed the plans for developing the next generation on the internet. The CEO for Global Development of NEO Da Hongfei announced the same and the initiative is expected to be supported by the Ethereum and IOTA Foundations.
The first stage of the collaborative development will be rolled out in 2020 according to the recent blog post by NEO, where we can also read about the further development process of Oracle’s implementation and functionality. The team listed other priorities as well such as the further development of the Oracle consensus mechanism, working on portability of the RPC modules, completing the design details of NEO3 GUI, testing the ecosystem wallets and continuing the discussion and design of the NEO3 governance model.
The trader and analyst Alessio Rastani outlined that NEO could be the crypto asset in 2020 that can be seen as a winning investment and according to his recollection, the Chinese community quite likes NEO as a cryptocurrency. If bitcoin turns bullish and starts a rally in 2020, NEO is one of the assets that will buck the bearish trend and skyrocket as well.
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