NEO price breaks out, posting 25 week high to $10.70 NEO price breaks out, posting 25 week high to $10.70
NEO outperforms Bitcoin off the back of news the project is moving into Web3 gaming in a big way.
2 min read
Updated: Feb. 9, 2023 at 5:34 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
A strong performance sees NEO touch $10.73 for the first time since August 2022.
The chart below shows since the start of the new year, NEO’s price performance has largely matched that of the market leader, Bitcoin.
However, a noticeable difference lies in NEO’s continuation of form. From Feb. 02, BTC topped out at $24,296 to record YTD gains of 46% at that point. Yet NEO has continued to run as Bitcoin, and the broader market has lost momentum.
A 23% upside swing on Feb. 9 saw the token break $9.18 resistance, established in early November 2022, just before the FTX collapse.
YTD gains at the top of the current daily wick come in at 75%. However, a spill in the early hours (GMT) has recorded a long bottom wick. Combined with a firm rejection at $10.73, a “Darth Maul” candle, aka high wave spinning top, has been printed.
This suggests that the prior uptrend has hit a point of indecision.
NEO Global Development Program
On Feb. 7, NEO announced partnering with “FindTruman,” a Web3 game that brings “a first-person immersion style” story format.
The accompanying FTG token enables governance rights and staking rewards, and plans are in place to integrate AR/VR technology.
FindTruman’s creators want game creators and players to get a fairer share of the gaming ecosystem they contribute to and develop. They see Web3 and blockchain as a path to fulfilling that ambition.
“FindTruman, a crowd-sourced, whodunit-style game, drew notice in Neo’s 2022 Polaris Launchpad Hackathon, earning an Excellence Award in the competition.”
The game was incubated through NEO’s EcoBoost Program, which provides $200 million of funding for small and medium-sized projects to develop and build on the NEO N3 blockchain.
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Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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