NEO unlocks 120,000 tokens to further build its ecosystem; NEO gains 6%

13 Jun, 2019
by Will Heasman
Price Action
NEO unlocks 120,000 tokens to further build its ecosystem; NEO gains 6%

NEO is amongst today's biggest gainers adding a modest 6% to its token price, but what's behind the rise?

Currently, NEO is citing a price of $13.38:

NEO/USD Chart provided by Tradingview

Why is NEO rising?

As always, this boost of market confidence in NEO appears to be emanating from the project’s continued growth. Of late NEO’s socials have depicted several bullish developments to the ecosystem, including a recent update the blockchain consensus mechanism delegated Byzantine Fault Tolerance 2.0 (dBFT):

Alongside this, NEO recently partnered with Liquefy to create a NEO based security token ecosystem, allowing the issuance of security tokens based on the NEO blockchain.

Further evidence of the momentum to build the ecosystem was offered by the ever vigilant WhaleAlter to notified followers earlier today that a transfer of 120,000 NEO (worth a current USD equivalent of $1.6 million) took place from a developer wallet to an unknown wallet.

Despite a few cries of “pump” and “dump,” a previous tweet from the NEO team allayed fears that this freshly unlocked capital was, in fact, going towards the furthering of the NEO blockchain.


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