Often referred to as the “Chinese Ethereum”, NEO has become one of the most talked about success stories of the crypto world. As 2019 draws to a close, NEO’s price has soared. Trading at around $7 just one month ago, its price at the time of writing has been hovering around $12.
So is it the right time to invest in NEO? What do Neo coin news and Neo price predictions have to say in the face of the 2020 NEO 3.0 release and renewed focus on Chinese cryptocurrencies?
NEO cryptocurrency news
Recently, NEO news has flooded the front pages of the major cryptocurrency resources. The news about NEO’s price burst amid critical blockchain-related political announcements from China.
In his speech last month, Chinese president Xi Jinping declared blockchain technology “an important breakthrough”. The Chinese leader promised that China would not stand on the sidelines but would instead accelerate the adoption of blockchain.
The endorsement was so significant that it led NEO’s price to surge by 100 per cent in the last few weeks.
Clearly traders are tending towards an optimistic view on NEO price forecasts, with the Asian cryptocurrency considered likely to be one of the major winners in China’s new blockchain push.
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Some crypto enthusiasts believe that NEO blockchain could even be used to host China’s long-awaited Digital Currency Electronic Payment (DCEP). If this does happen, it would be the most significant example of blockchain adoption so far.
NEO 3.0 and major partnerships
Beyond these major political events, a release of an updated NEO 3.0 version is expected in 2020. This could further boost NEO’s popularity as a development platform and allow other digital currencies to circulate on its technology.
NEO has also recently entered into several important partnerships. The company closed a deal with ZelCore wallet in order to enhance its mass adoption in the global economy. NEO and Ontology are also collaborating on an…