Here’s Why NEO is Still Going Strong in the Second Half of 2020

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For many people, NEO has always been the cryptocurrency worth keeping an eye on. It is certainly an active ecosystem that has significant potential, although it has hit some bumps in the road as well. 

Development is Surging

Whereas most cryptocurrency and blockchain projects tend to note a slowdown in overall growth after a few years, NEO appears to be a completely different track. In the past six months, the project has noted strong development activity. Most people would assume that something major is in development behind the scenes. What that major development may be, remains to be determined at this stage.

With 128 commits in the past six months, things are certainly heading in the right direction. A lot of activity was noted since mid-march of 2020. This may be a sign of a new chapter being written in NEO’s history book. It is also interesting how the second-highest peak in developer activity was recorded not that long ago. 

Healthy dApp Ecosystem

Roughly a dozen blockchains are competing for traction in the world of dApps. NEO is one of the ecosystems supporting these decentralized applications. Its ecosystem has seen healthy growth in September of 2019, but the overall influx of new projects has tapered off significantly ever since. Not entirely surprising,  especially if one values quality over quantity in this space. 

As things stand – according to State of the dApps – NEO has 22 different dApps. That may not seem like much, but there has been at least one new offering being brought to market every month. Not much is known about the number of daily active users, or transactions, but that isn’t necessarily a hindrance either. 

What’s Happening on Social Media?

The overall trend for NEO on social media platforms might not necessarily be what most people expect. Over the past six months, the social sentiment, volume, news volume, and social dominance have all decreased significantly. Particularly the social dominance went from 0.4% down to 0.1%. This further indicates that NEO isn’t an actively discussed project these days, but that situation can always change again in the future.

On the other hand, the social engagement has picked up quite a bit. Following a healthy 18% gain in the first half of 2020, the engagement is on its way to hit the 100 million threshold. As the number of social contributors continues to climb, other statistics will follow. 

Liquid Marketcap Above $1 Billion

It is always interesting to see the liquid marketcap of currencies that are not Bitcoin. Most altcoins often struggle to reach a liquid market cap of $500 million,  NEO is an exception in this regard, as it ranks much higher compared to some other top altcoins. With a liquid marketcap of $1.099 billion, this project is checking the right boxes. 

To put this into perspective, it puts NEO ahead of Cosmos, IOTA, Ethereum Classic, Dash, and ZCash, to name a few projects. Remarkable as several of these coins have a higher “reported trading volume” than NEO’s. Those figures only tell part of the story, as determining the real liquidity is what really matters for crypto assets.

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