NEO (NEO)- the Chinese Ethereum or the real Ethereum (ETH)?
Jan 30, 2018 Posted / 7089 Views
Lately, NEO (NEO) is being called the Ethereum of China, which could only be a good thing for a currency as the country embraces 1.4 Billion population, which accounts for 35% of the world's total population. And, not only this, about 33% of the people in this population are between the ages of 15 and 35. This means that NEO has a very large audience base in comparison to any other cryptocurrency with a possible market share of 462 million young Chinese. Interestingly, all the NEO coins have been mined standing at 100 million with 65 million in circulation.
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There are more things to consider over here, the currency could not be limited to China alone as there is the possibility of widespread adoption especially in other Asian nations such as South Korea and Japan. There is greater possibility that this digital currency will have a much better valuation in coming times.
Ethereum was introduced in the cryptocurrency circuit in August 2015 and till now have witnessed 44,240% valuation growth. The growth had been both- steady and unreal for the currency, which is considered having upper hand over Bitcoin. It has enjoyed a much faithful fan base and support in comparison to other cryptocurrencies. However, one can only imagine possibilities with NEO which was introduced in September 2016 and according to price valuation by Coinmarketcap have gained some 88,570% at the current value of $160.74 in a period of 17 months.
The growth is really unreal and roughly twice that of Ethereum in much less duration (one year short). And, if the currency grows by this size only, NEO would find itself close to $90,000 in 2019 with a market cap of $5.85 Trillion.
Well, we all know that the idea is absurd and no digital asset can find such steady valuation for continuous 2 years, however, the tide can run in favour anytime in the cryptocurrency market. If you will go by the expert predictions, they say that NEO (NEO) will reach $600 by the end of 2018 despite market corrections.
Ethereum gained in the initial phase and rallied passed the crucial $1k mark, which is kind of a benchmark for cryptocurrencies as we saw Bitcoin experience the same last year. It started its journey in a pretty similar manner as Ethereum. On the other hand, NEO (NEO) has witnessed the same expanding growth since Christmas.
Both Ethereum and NEO have had steady time despite several dips, on the other hand, Bitcoin has witnessed a mistreatment with severe drops since its 2017 rally. On Christmas, NEO was at $56 and is now at $160.74. A gain of 187% while Ethereum has only gained 64% in the same duration.
However, Ethereum has much bigger support, price and market capitalization in comparison to Ethereum which is why it may possess an advantage. Nonetheless, with lesser coins in circulation, NEO has the capability of growing to heights only known by Bitcoin last year by following the laws of supply and demand. Ether has 97 Million coins in circulation. Neo has 65 Million.
We can say that soon you may find NEO knocking on the door of Ethereum (ETH) and we will soon witness stiff fights within top 3 cryptocurrencies with a quite plausible scenario saying that Bitcoin may fall from the top slot and either NEO or Ethereum gaining its spot. We can only wait and find out.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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