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?
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.
A challenge to the community. pic.twitter.com/v86oVF1lJv
— Malcolm Lerider (@MalcolmLerider) 17 ноября 2017 г.
The announcement faced a rich response from the community members and the users started to actively discuss its translation, meaning and make suggestions of what it all was about.
Reddit.com users comments towards NEO announcement
A huge amount of users suggested that the announcement might be connected with the rumors of the release of new plan of regulating cryptocurrency in China. They believed that NEO might have received the support of chinese government.
On top of this, we will present something new tomorrow. We do not want to hype, but we also want the community to be aware of the progress NEO and our ecosystem is making. It’s a balance, and it’s up to the community to judge.
Nevertheless , on November 19, Malcolm Lerider published a message in his blog on Medium, where he stated that there will be no news about regulations and that NEON Exchange whitepaper will be released on November 20. Moreover, the same day will be marked by the release of something very new. It is only left to wait and guess what NEO company is preparing for the community and how it will influence the price of the currency.
At the time of press, NEO is being traded at the price of $40,13 with market capitalisation of $2,6 billion.