The cryptocurrency market might have been in turmoil for the better part of 2018 after going to astonishing highs back in 2017, but cryptocurrencies have enjoyed an excellent year so far and much of the gains have been driven by Bitcoin.
One cryptocurrency that has been under the radar a bit is NEO and its recent rally in the month of May saw it go up a place in the list of digital assets among the highest market capitalization. The crypto market enjoyed a stunning rally in the first half of May and like many other cryptocurrencies, the price of NEO escalated significantly as well.
NEO might not be as well known as some of the other cryptocurrencies, but it was still within the top 20 digital assets and after its price surged by as much as 26% since the beginning of May, NEO moved to 19th position.
At the time of writing, NEO is trading at $12.20, represents a rise of 3% against the USD for the day. NEO has a market capitalization of $792.21 million. Over the past 24-hour, the crypto-coin has generated a total volume of $441.95 million. Nevertheless, NEO is trading about 90% lower from its all-time high of about $150.
$100M In Funding To Build Ecosystem
However, there is better news for those who have invested in NEO or are looking to invest in it. It has also emerged that NEO Blockchain has now attracted a stunning $100 million investment and after that news went public, the price of the cryptocurrency soared by as much as 17.6% in one week.
Needless to say, it is a highly positive development for the crypto in question and has resulted in a general optimism surrounding it over the past week or so. The investment will be used to further expand Dapp development that is highly useful for the NEO Blockchain and part of the money will also go towards community development.
It is worthwhile to note that NEO has been making deals assiduously over the course of the past few months and recently announced that it had completed a deal with Zeux, a Fintech company based in London. Users of Zeux will be able to make payments through Apple Pay and Samsung Pay by way of NEO and that is an important step for the cryptocurrency, as it aims for mass adoption. Sign Up Below to Follow NEO and Other Breaking Cryptos.