NEO cryptocurrency has seen a 15% price increase in the past week, making it one of the top-performing assets in the market. NEO positions itself as an open-source platform with the goal of being the foundation for the future Internet, offering digital payments, identities, and assets. At the time of writing, NEO’s price is at $10.72 with a trading volume of $109 million, signifying a surge of 6.89% in the last day.
Based on technical charts, NEO’s price movement is on a bullish streak. NEO’s current price trades above its 50-day simple moving average (SMA) value of $10.44 for the short term. However, the asset falls way below its long-term 200-day SMA value of $12.79. NEO’s price movement has just broken through the resistance at the 38.2% Fibonacci retracement level of $10.70. A continuation of bullish sentiment will see the asset race towards the 50% Fibonacci retracement level of $11.82.
Neo’s Blockchain Platform
Neo is a blockchain platform that is open-source and driven by a community of developers. It provides a way for developers to convert assets into digital form and automate their management through smart contracts. Furthermore, Neo offers a robust infrastructure for the next generation of the internet, which includes decentralized storage, oracles, and domain name services.
The protocol was initially introduced in February 2014, but the release of Neo N3 in 2021 represents a significant milestone in Neo’s journey toward decentralization. With N3, owners of NEO have the ability to select council members and consensus nodes, which are responsible for controlling important blockchain parameters and maintaining the Neo network’s operation. The network utilizes two native tokens, namely NEO and GAS. NEO is primarily used for network governance, while GAS is employed for transaction fees, deploying smart contracts, and making purchases within decentralized applications (dApps).
Alchemy Pay’s Partnership with Neo
In a recent development, the Neo blockchain platform has partnered with Alchemy Pay to simplify entry and exit from the Neo ecosystem. Alchemy Pay’s payment gateway enables payments through popular methods like Visa and Mastercard in 173 countries, including domestic transfers and mobile wallets in emerging markets. Users worldwide can now buy cryptocurrencies using their local fiat currencies.
Additionally, developers building on Neo can use Alchemy Pay’s direct-to-customer plugin, which can be easily integrated into decentralized applications (dApps) and platforms with minimal expenses and challenges.
Ecoterra Emerges as a Potential 20x Value Investment
Although NEO long-term holders may find the partnership with Alchemy Pay to be positive news, it appears that other utility-focused assets currently dominate the crypto market. Ecoterra, an eco-friendly project, incorporates unique concepts and has a smaller market capitalization, making it a potentially lucrative investment with long-term viability.
Ecoterra provides an incentive initiative called the ‘Recycle-to-Earn (R2E)’ project, which enables individuals and organizations to earn incentives by recycling plastic and glass materials. The primary goal of this project is to promote recycling and encourage individuals and businesses to reduce their carbon footprint.
The eco-friendly project leverages the power of the Ethereum blockchain to ensure a secure and transparent R2E mechanism. Moreover, the ecoterra ecosystem encompasses various components, such as a carbon offset trade, a marketplace for recycled materials, and a trackable impact profile. This comprehensive environment fosters collaboration and offers an all-in-one solution.
To encourage recycling, ecoterra employs the use of reverse vending machines (RVMs) in stores, which rewards users with $ECOTERRA tokens for each recycled item. These tokens lie at the project’s core, serving various purposes, including reward distribution and staking.
Ecoterra combines advanced technology, innovative design, and a deep commitment to ecological preservation in its mission to address urgent environmental challenges. This project has already raised over $4.3 million through its presale and received an award for its contribution to a sustainable ecosystem at the Istanbul Blockchain Summit.
Investors who purchase the $ECOTERRA token at the current price of $0.0085 can expect a potential gain of approximately 30% when it becomes available for trading on CEX and DEX platforms later this year at $0.01.