NEO Boom or Bust? New Announcements and FUD

Blockchain company NEO has had a spectacular weekend, by any accounting. The company made a number of important announcements, resulting in a significant price jump, with more announcements to come.

The first announcement that sent the coin price hurtling up more than 15% was the use of NEO on the Ontology platform, a new distributed trust network by Onchain. NEO offers programming flexibility and asset based functionality with are essential components for the new system.

FUD or true?

In spite of the announcement and the subsequent price bump, NEO has faced some relatively harsh criticism, particularly regarding its centralized nodes. One article appeared on GitHub, offering at least six reasons why NEO is not a particularly good investment before the weekend, only to be responded to via Medium by NEO insider, Malcolm Lerider.

The accusations include a number of ‘warning signals’ which appear to be responded to in a careful way by Lerider, who refers to the entire earlier post of ‘Investor Warning’ as non-factual fear, uncertainty and doubt, or FUD. Regardless of online debates, as they say, the proof is in the pudding - if the warnings about NEO are true, it will come to light soon. However, if the platform is really as robust as it seems, the price may be a very low buy in point for future gains.  

Included in the post by Lerider, however, is a statement that NEO will make another announcement after the weekend, which may or may not already be priced into the market. At press time, NEO was trading at $41.37.