If you have been watching the markets over the past few days then you may have noticed that NEO seems to be relishing in a very good performance at the moment. Both the price and market capitalisation of NEO has improved significantly over the past few days, pushing NEO up into the top ten cryptocurrencies according to Coinmarketcap.com, pushing Tether out for the first time in a number of days.
At the time of writing, NEO is valued at $42.36, up 8.08%. In just under a week, NEO has risen from a price of $28.05 up to the peak that we are seeing presently. This is an increase of just over 50%, suggesting that this good form from NEO really is set to continue. Recently, NEO has also sat outside of the top ten cryptocurrencies for some time now, mostly due to a market cap spike by TRON, followed by a similar spike from Tether. As a result of this, NEO has spent an extended period of time outside of this zone. Now though, NEO has very much reclaimed its place back.
NEO entered the era of decentralization!https://t.co/JOA7UibNnU
— NEO Smart Economy (@NEO_Blockchain) July 4, 2018
Yesterday, NEO posted an announcement regarding the next move in the NEO story, the total decentralisation of the project. According to a blog post by NEO:
“On July 4, 2018 at 21:00 (GMT+8), NEO Foundation initiated the election of new consensus nodes, starting the era of decentralization of NEO. The candidate node run by City of Zion, after running smoothly on TestNet for over six months, got elected as the new consensus node. City of Zion (CoZ) is an independent, international group of open source developers working on NEO blockchain. A web page has been set up on NEO official website for monitoring NEO blockchain status as well as information of consensus node candidates and their votes.”
See more from the official blog post, here- https://neo.org/blog/details/4089
This new era for NEO is clearly having a great impact on the value of NEO as a currency. Of course, this is a great turn for the NEO project too. We can’t expect this NEO climb to continue forever, the current bear market will regain a grip on the value of NEO, for now however, things are looking very good for this currency and thus, investors may be quite pleased with themselves.