Altcoin

NEO Sees Strong Recovery, Prepares for Month Packed with Events

The NEO digital asset was the strongest gainer in the most recent market recovery. NEO added more than 18%, becoming the strongest-growing top 10 coin in the past 24 hours. The price reached $55.38, as NEO moved away from the recent bottom at around $45.

One of the reasons behind the rise is the monthly distribution of GAS on Binance. The GAS asset also gained around 14% to its price, reaching $16.82, but quite far from peaks above $65.

But what can continue to boost the price of NEO in the coming day is the busy calendar of events. The upcoming meetup in Amsterdam is considered one of the important events for NEO outreach, as the city hosts a rather lively crypto community.

The event is a part of the NEO European tour, which highlights some of the cities where interest in blockchain technologies is the highest. The NEO presenters will visit also LIsbon, Madrid, Paris, Vienna, and Zurich.

Additionally, the Neon wallet has seen an improved performance with its latest update.

But some believe the recent move of NEO is just traders moving in, as the asset may have been oversold in the latest price drop. NEO is one of the most liquid assets on the Asian markets, but the current recovery happens on relatively slim volumes. Rumors of a listing on Bithumb may add to the hype, as NEO trading has now concentrated on Binance and Upbit.

In the past weeks, the Ontology (ONT) project overshadowed NEO, but now the ONT price slides back, down around 5% in the past day to $3.34.

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