What to Expect From NEO Price Forecast for 2022-2025?
During the 2017-2018 crypto market cycle, NEO, also dubbed the “Chinese Ethereum,” was one of the leading cryptocurrencies in the market. It provided developers with a platform for deploying decentralized apps that were easy to code and deploy.
However, with the increased competition from high-performance blockchains like Solana, BSC, and Avalanche, NEO has slowly taken a step back in the current crypto landscape. In this article, we take a look at the first successful Chinese blockchain and whether it has a future in the middle and long term.
NEO Insights
NEO was released way back in 2014 under the name Antshares. Compared to the current top 20 by market cap, we can say that NEO is an old-timer in the crypto markets. It was one of the first smart contract-capable open blockchains in the ecosystem, together with Ethereum.
However, while Ethereum enjoyed instant popularity, many thought that NEO had multiple advantages over it. First of all, NEO supports multiple coding languages, in contrast to Ethereum which requires Solidity. As such, it is a much more democratic platform to develop on and deploy decentralized applications.
An interesting characteristic of the NEO blockchain is that it relies on two different cryptocurrencies — NEO and GAS. The former is used as an investment vehicle on the network, while the latter is used to pay for the transaction fees on the blockchain. More importantly, owning NEO automatically generates GAS. As such, investing in NEO allows developers to continuously generate enough GAS for further development on the platform.
The team behind NEO continuously provides updates and upgrades to the blockchain. The latest update named N3 was launched in August 2021. It provided higher transaction throughput for the network, added native oracles, and a revamped governance system.
NEO Coin Performance
Over the years, NEO has seen its fair share of ups and downs in the markets. NEO tokens started fairly modestly with a price of around $0.39 in 2016. However, during the 2017-2018 bull run, the token experienced an incredible increase in value. As one of the few smart contract platforms available at the time, NEO reached an eye-watering price of $190 per token in January 2018.
However, this incredible price increase was met by a stark decline during the bearish market in 2019. The price trended between $10 and $15 during the better part of 2019. It reached a low of $5.5 per token during the COVID19 market crash in March 2020. That said, it also started to recover its value after reaching this new two-year low.
In May 2021, NEO’s was once again valued at triple-figures, as the tokens reached $120. But once again, the price started retracing following the general bearish trend of the market. Today (February 2022) NEO is barely trading for $25 a token. Fortunately, you can buy NEO instantly on Godex at this low price and profit from the probable trend reversal that might happen in the near future.
How Can NEO Price Change in the Future?
So what can we expect from NEO in the next few years? To provide you with a plausible NEO price prediction for 2022-2025, we explored some opinions from various experts on the internet.
Price Prediction for 2023
For 2023, Walletinvestor is quite bullish. The price prediction website expects NEO to reach a high price of $44.1 per token, which would equate to nearly double its current price.
Priceprediction.net provides a similar forecast, with a minimum price of $46 per NEO token and a maximum price of $54.
Price Prediction for 2024
For 2024, Priceprediction.net remains bullish on NEO. It believes that its fundamental value should allow it to reach a maximum price of $81 per token.
Walletinvestor, on the other hand, is a bit more conservative. They believe NEO will gain 125%, which puts the token at around $56.
Price Prediction for 2025
Experts are incredibly bullish for NEO in 2025. Walletinvestor provides a price of $90 per token. Pricepediction.net, on the other hand, expects to reach a max price of $115.
Should I Buy NEO Today?
NEO is a fundamentally sound cryptocurrency that can compete head-to-head with the strongest blockchain projects at the moment. Its latest N3 update provides some incredible advancements within its network.
From a price standpoint, NEO seems very undervalued. Experts agree that its price should steadily increase in the following years, making it a great opportunity for investors. Keep in mind that cryptos like NEO remain incredibly assets and you should never invest more than you can afford to lose.
