This Chinese Regulated Blockchain Network is Pumping the Hardest

    • The seventeenth-largest cryptocurrency records a more than 50% jump
    • Other China-based crypto assets enjoying a good hike too
    • The market is enjoying a bull rally that has the world’s leading cryptocurrencies surging 42%, the third-largest increase in BTC price ever.

    Altcoins also saw a huge uptick in their price that added more than $55 billion to total market capitalization. However, the spike in altcoins hasn’t been as much as the flagship cryptocurrency because we saw BTC dominance yet again sailing pass 70%.

    Having said that, there have been a few cryptos that registers a much higher percentage of gain than that of Bitcoin.

    Recording a 50% Jump

    The one cryptocurrency that pumped the hardest during this green market has been NEO.

    The seventeenth-largest cryptocurrency by market cap of $738 million recorded an increase of more than 51%.

    The day before the pump, NEO was trading at $6.80 that jumped above $7 on Oct. 25, the day BTC went from $7,300 to $8,650. The real sparks flew on Oct. 26 when the price came close to touching $9.

    While after surging to $10,600 level on Oct. 26, Bitcoin took a dive and has been since trading around $9,200, NEO is still on the up and up.

    Today, NEO recorded another spike and jumped to $10.70, a level that was last seen in mid-August. At the time of writing, NEO has been trading at $10.50 with 24 hours gains of more than 24%, as per Coincodex.

    However, the digital asset is still down 35.8% in the past year and down 94% from its all-time high of $198.

    China-based Crypto Assets Enjoying a Good Hike

    This spike has been driven by Chinese President Xi Jinping talking about becoming a leader in blockchain technology and passing a crypto law that will go into effect on January 2020.

    So, it makes sense that NEO, a crypto asset founded by Da Hongfei and Erik Zhan in China is leading the gains.

    NEO was designed to be a regulator-friendly digital asset by having every individual, business or entity operating in the NEO platform a unique digital identity that can be verified.

    As such, it has also been among the top 10 cryptos in China’s CCID Global Public Blockchain Technology Assessment Index.

    Ontology (up over 38%), Qtum (over 30%), and VeChain (24%) are other China-based crypto assets that are registering huge gains.

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    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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