NEO proponents argue that it brought something unique to the market by simplifying the complex world of cryptography dominated by Bitcoin and Ethereum. Now that volatility is more or less the norm for cryptocurrency prices, it is the capabilities of the network that really determine its value.
And most recently, the NEO network introduced a new coding system that greatly simplified the work of developers.
Is NEO Ethereum winning?
In my own way.
Since the launch of altcoin in 2014, NEO has grown steadily. During the May rally, the cryptocurrency rose 483% to a record high of $ 123. After that, NEO is in a consistent development stage and the blockchain launched the N3 mainnet in August.
The N3 mainnet worked as expected and allowed the network to process 10,000 transactions per second. However, it brought the greatest development to the developers.
The N3 release allowed developers to create smart contracts on the web in any programming language of their choice. This could only be achieved through vigorous development activities, which is clearly visible through the data on the web. Since N3 supports most of the world’s most popular programming languages, developers don’t need to learn any new languages.
Compare that for a second with Ethereum and Cardano. It can be argued that Solidity and Plutus limit this freedom of choice to some extent. Serving developers, NEO is now gaining much-needed attention.
What does it look like for investors?
Well, altcoin has gained 154% since the launch of the N3 mainnet. In addition, despite the fact that the market fell 27.8% on September 7, on-chain data remains optimistic.
Consider, for example, altcoin’s ROI – almost the same, if not higher, than Bitcoin and Ethereum.
The market value to realized price ratio of NEO is also stable, exceeding 1.5. Online participation also rose after a serious drop in May. This rise in active addresses is a consequence of the launch of N3.
There may be many investors jumping into the market for altcoin as it has very low volatility. However, it should be borne in mind that it has an equally low Sharpe ratio.
Thus, looking at the optimistic sentiment of investors, it would be prudent to enter the NEO market with caution.