CV Market Watch™: NEO Wiped Out January Gains, Expects Boost from ICOs

NEO's market price sank below $100, with almost no growth in the past month.

NEO was one of the more stable gainers in January, at some points moving counter to the red trend of the markets. However, the market price has returned to the levels from a month ago, not being able to settle to positions near $200.

Unfortunately, the NEO Devcon week did not manage to stem the slide in prices as pressures from the market made NEO sink, instead of climb. The news of the conference were quickly discounted, and NEO sank from the most recent peak around $160.

Still, the NEO platform enters the phase of ICOs, coming with a potential boost of price, popularity - but also problems.

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NEO Troubles with ICOs

In recent news, the NEO platform was beset by an ICO scam for the Bridge Protocol project.

One of the mistakes of the scammers was to ask for Ethereum, while the Bridge Protocol ICO only collects NEO coins, and will exist on that ecosystem.

The Bridge Protocol ICO has been attack via Telegram channels, but there are also cloned sites offering a token sale wallet.

The NEO project itself has been beset by fake Twitter giveaways, as well as phishing sites and duplicate social media accounts.

Elastos Partnership

In a recent interview with the CEO of NEO, Da Hongfei, it became clear that Elastos (ELA) has been taken up in a form of partnership.

The recently created Elastos project for now has not seen significant price growth on the NEO news, but the next days may see ELA appreciate more.

Elastos has just started trading on Huobi, against ETH and BTC. The next few days will show if the price for this brand-new project keeps up.

Binance Distributes GAS

The hot new exchange, Binance, has announced the montly distribution of the GAS asset to all NEO holders. GAS may be received by staking NEO in an official wallet, but more exchanges are coming on board with distributing the staking asset.

At this point, the GAS digital asset is still far from its peak price around $60.