If you’ve been following Ethereum at all this year, you’ll know its price has gone bonkers.
A rough estimate puts gains around the 3,275% mark since the start of the year. Not a bad return…
Clearly, Ethereum is big. So big that many people think it could outstrip Bitcoin one day.
But have you heard about the newest arrival on the scene?
NEO (Antshares) could be the new Ethereum
NEO is China’s answer to Ethereum. It functions similarly, but has slight differences. However, what’s important is that it’s been gaining a strong following lately.
And while the spotlight is still firmly on bitcoin, with it soaring to new record highs over the past few days, NEO and a handful of other ‘altcoins’ made massive gains on the side.
In fact, NEO outstripped both bitcoin and Ethereum in gains in the last week.
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Bitcoin Price is up 18.5% in the past week. Ethereum did a little better; it climbed 30.7% higher over the past week.
NEO? Well, it rocketed about 143.8% higher in just seven days! That’s the kind of gains we like to see from cryptos.
Those gains occurred because NEO launches their SmartContract platform today — dubbed NEO 2.0. However, unlike Ethereum, which uses its own programming language, Solidity, NEO will support traditional programming languages. This means that NEO is far more open to developers, as they won’t need to learn a new coding language. Something NEO hopes will give it a competitive advantage.
Soon, China could see a flood of initial coin offerings on NEO’s platform. Which has been one of the biggest draws for Ethereum this year.
One token, Agrello, has already nominated NEO for its listing platform. And if market sentiment is anything to go by, we will no doubt be seeing a lot more in the near future.
We will definitely be keeping an eye on NEO as it continues to develop.
For more on all things crypto, be sure to follow developments from our two crypto experts, Sam Volkering and Ryan Dinse. And if you want to get the best crypto insights in Australia, make sure to check out Sam Volkering’s Secret Crypto Network.
Junior Analyst, Money Morning
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