The Neo (NEO) token has experienced a 2.3% slip in its price despite a market rebound, with it currently trading just above $16. NEO is a smart contract blockchain that was launched in 2014 and rebranded as Neo in 2017, with a market cap of over $1.1 billion. However, it has struggled to gain adoption compared to other smart contract blockchains like Ethereum. The current lack of adoption is evident in the low trade value locked (TVL) in its smart contracts, which sits at only $63 million, ranking 62nd in crypto. Despite its current market cap, there are concerns that Neo may be on the verge of a bearish technical breakout that could see it lose 40% of its value, dropping back to $10.
The broader cryptocurrency market conditions may remain bearish following Bitcoin’s recent drop below $60,000, with spot Bitcoin ETF demand experiencing outflows and markets pricing out near-term rate cuts from the Fed. The Fed has emphasized that it is too early to be cutting rates due to recent upside surprises in inflation data and ongoing strong growth, with rate cuts not expected until late Q3/Q4 of the year. Until then, cryptocurrencies like NEO are likely to perform poorly unless sentiment improves. However, if NEO can recover to $20 and beyond, its market cap would only be $1.4 billion, given the current token supply of 70.5 million.
For investors who have a high-risk tolerance and are considering risky investments like NEO, an alternative strategy may be to consider presale investing in upstart crypto projects. WienerAI (WAI) is a meme coin with AI capabilities that has caught the attention of analysts and investors. The project has already raised over $800,000 and offers investors the opportunity to buy in during its presale phase. Investors need to act quickly, as the price of WAI will increase when the presale reaches $1.1 million. Currently priced at $0.000703, investors are buying WAI at a market cap of around $45 million. With the potential for significant gains if WAI becomes a market leader, investors could see returns of 10x or more. Additionally, WAI offers passive income through staking rewards, with presale investors currently earning a massive 1091% APY.
Overall, the Neo token is facing challenges in gaining adoption and maintaining its value, with concerns about a potential bearish breakout. In contrast, projects like WienerAI offer investors the opportunity to engage in presale investing and potentially realize significant gains if the project is successful. Investors should be aware of the high-risk nature of cryptocurrency investments and conduct thorough research before making any investment decisions.
