CV Market Watch™: NEO Stands Out as Recovery Leader

Several assets showed their recent low prices were unwarranted, as Lisk and Monero also showed strength.

NEO has had a track record in the past weeks of bucking the markets trend, and showing strength where other assets have wiped out more of their value.

But NEO has proven its price settles well at above $100, keeping the gains since the days the asset traded around $35. Now, the biggest force behind the rise of NEO is the establishment of the asset as an in-demand ecosystem, with more ICOs and additional technologies coming on board.

In the second day of recovery for the crypto markets after a sharp slide that saw Bitcoin below $6,000 briefly, NEO is among the strongest assets with double-digit daily gains, while for other coins the recovery has been less dramatic.

Bitcoin Returns Above $8,000; Other Cryptos Show Recovery As Well

Projects Showing Strength

Lisk (LSK) was yet another coin that could not sink to a lower range without buyers bidding it up again. The Lisk ecosystem is yet another promising platform for future developments. LSK traded above $21, after a gain of more than 25% in the past 24 hours.

The other notable mention in the recovery phase is Monero (XMR), a coin that charts its own path and often rises against Bitcoin with significant strength. XMR is one of the coins that has not made claims of being "the new Bitcoin", and yet it has displaced the leading digital asset for some form of anonymous peer-to-peer payments.

The XMR market price rose above $500 at one point, but has slid dramatically, and is now halfway to the peak position.

So far, the public image of Monero has not suffered, and the coin continues to feature prominently on exchanges and payment processing services. We may even say that Monero benefits from the news of hidden mining. In addition, Monero has established itself as the leading CryptoNote coin that is mined with the CoinHive script through websites.

Some sites are also monetizing their content by offering users to voluntarily mine in their browser window.

However, malicious botnets are also abducting devices, burdening them with the rather hefty computations for the CryptoNote hashing algorithm.