NEO price jumps up

The price of cryptocurrency NEO increased by 50% within past 7 days which might be linked to the recent announcement of NEO council
19 November 2017   2114

After remaining stable for quite a long time at the point of about $29, the price of cryptocurrency NEO unexpectedly started to rise up on November 17 reaching its peak of $48 on November 18 with the market cap of $3,1 billion. What is the reason for such a sudden price jump?

NEO price charts november 2017NEO Charts

It seems like NEO is trying to attract the attention of the world's community and to make publicity by making mysterious announcements. On November 17, Malcolm Lerider, NEO council and senior R & D Manager, made an announcement which did not contain any exact information but stated that something big is yet to come in 3 days.

NEO to Finance Switcheo Development Team

Investments were provided as part of the NEO EcoBoost ecosystem development program, which is $100M in whole
15 January 2020   144

NEO blockchain project invested in non-custodian exchange Switcheo. This was reported by Switcheo developers on their blog.

Investments were provided as part of the NEO EcoBoost ecosystem development program. The amount of investments by companies was not disclosed. It is known that $ 100 million was allocated for the EcoBoost program.

Switcheo CEO Ivan Pun believes that new financing will help his company implement several planned projects, including launching products from the decentralized finance (DeFi) field. NEO founder Da Hongfei said the two projects will continue to “work in tandem” to develop the NEO ecosystem.

Switcheo launched in 2018 and is the most popular decentralized exchange for working with NEO and tokens based on its blockchain. In addition, the exchange allows swaps with assets of the Ethereum and EOS blockchains.

Since February, Switcheo users will be able to pay fees for trading on the platform with NEO GAS tokens. The SWTH token will no longer be used for this. NEO, for its part, will finance the exchange of SWTH for GAS at a set minimum price - it will be determined later. At the same time, a multi-level program will be launched, thanks to which SWTH holders will be able to receive discounts on commissions when trading on the exchange.