The project is showing strength despite a sharp decline in recent weeks. The price has rebounded rapidly on a series of positive news.
Neo introduced a temporary price reduction. Even with side-market cryptocurrencies moving with very small gains, Neo added nearly 25% to their value in one point. Currently, Neo is more than 20% of Monday's levels, trading at $ 25.86. Neo is still half way off below its peak, but positive developments are coming quickly to the project.
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For Neo, this is the first more significant climb trend in the past month. September was characterized by a series of news about regulatory restrictions, leading to a decline in markets in all areas. With the upcoming closure of China's new cash investments, the price of NEO remains uncertain. Neo has yet to recover more losses since the peak of almost $ 50 in August and early September.
The recent rise in prices is due to a statement from its founder Da Hongvi. Da admitted future cooperation with the Chinese government on Blochen projects are not of matter:
I do not expect the government to call me in the short term and say, 'Let's use Neo as the technology infrastructure of Blockchin in China. "But in the medium term, why not?" Da said in an interview with a Dutch financial newspaper, "I think that's possible."
But Neo may get a boost in a few days, when trading begins on the Korean coinNets exchange.
Additional support for Neo comes from the Morpheus Portfolio team, which plans to launch the Alpha code for Neo in October. NEO has been a hit in China and is winning back investors after the markets are regaining confidence. But there is growing interest from Western investors, who want to see the NEO exchange in the Poloniex. But so far, there are only rumors about the potential list.
source is
https://cryptovest.com/news/neo-proves-its-strength-price-up-25-good-news-pile-up/