NEO Surges 30% to Top 10 Spot

NEO Surges 30% to Top 10 Spot


09/27/2017


NNEO beat the crypto markets with a 30% surge in value on speculative news about a future collaboration between NEO and the Chinese government. China recently shutdown cryptocurrency exchanges in the country, but NEO founder Da Hongfei was quoted in an interview with the Dutch financial outlet Het Financieele Dagblad as saying, "I do not expect the government to call me in the short term to say: Let’s use NEO as the blockchain technology infrastructure in China. But in the medium-to long-term? Why not? I think it’s possible." If China were to partner with a single cryptocurrency in the future, the financial ramifications would be enormous.

NEO’s surge began in June and can be attributed to its recent addition to the Bitcoin exchange Bitfinex. NEO can now be swapped for USD, BTC and ETH, providing liquidity and exposure to a major USD market. NEO is still down from its $48.01 high on Aug. 14, but it surpassed Ethereum Classic for the 10th spot on the market cap ratings.

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