Altcoins

NEO Launch Report: Bitfinex $NEO Down -0.81%

Brief:

NEO is down -2.08% in twenty-four hours, down -0.81% since launch on Bitfinex. NEO launched on September 07, 2017 with an opening price of $22.30 NEO/USD. The Bitfinex NEO all time high is $39.80 with an all time low of $21.50. Today’s Bitfinex NEO/USD volume is $3,016,580 (CoinMarketCap.com) and the last price is $22.12. In light volume trading the short term trend is down.

Digital asset: NEO

Trading Symbol: $NEO

Launch Date

NEO/USD was launched on Bitfinex on September 07, 2017.

Market Capitalization

Price USD: $22.12
Circulating supply: 50,000,000
Market cap: $1106 M
(circulating supply data courtesy CoinMarketCap.com)

Price History

CoinMarketCap YTD

24 Hour Market Share

Remarks
Bitfinex has done well in the last three days by garnering eight percent (8%) market share of $NEO in just the $USD pair alone. Bitfinex also offers BTC and ETH. The USD pair has the largest volume of the three.

Bittrex which has been trading $NEO/USD since August 03 2017 is the market share leader. Their $NEO BTC currency pair retained 52.51% of total NEO market share in a twenty-four hour period. The Bitfinex market share of $NEO BTC for the same period is just 2.31%. Since trading has just begun on Bitfinex it might be reasonably expected to see them improve on the market share as trading continues because of the weight of their existing customer base.

On the other hand, traders indulging in $NEO didn’t find the market so lucrative, as the T&C20 Alt Index has been on a downtrend and the NEO price along with it:

T&C Alt Index One Month Chart

Chart courtesy AltIndex.io

The index started its recent decline on September 02 2017 concurrent with bitcoin reaching $5,000. Days later the Chinese government “paused” ICO’s pending introduction of regulatory controls. Market confusion – and disinformation – over official Chinese policy and the state of actual enforcement on Chinese based cryptocurrency exchanges has continued to suppress the price of bitcoin and all crypto in general.

The language barrier and communication difficulties between English and Chinese has had a pronounced effect on crypto prices in many instances over the years. Typically the price effect is negative when there is confusion over reporting facts.

Nonetheless exchanges create wealth on trading fees regardless of the direction of the market:

1 Day Candles – Bitfinex

1 Hour Candles – Bitfinex

XBTLivePrice

Pair: NEO/USD

High: $39.80
Low: $21.50
Opening price: $22.30
Last price USD: $22.12
All time change from the opening price: -0.81%

Volume

$3,016,580

The trading volume for this digital asset is light compared to Bittrex trading in $NEO/BTC.

Exchanges Listed On

Bittrex, Jubi, YuanBao, Binance, Bitfinex, YoBTC, Cryptopia and more.

Data source

Bitfinex is the data source for this report – except as noted.

Asset Description

“September 07, 2017
NEO (NEO) exchange trading has now begun on Bitfinex, and is available against the pairs USD, BTC & ETH. Margin trading for these pairs will be enabled gradually, at a later point in time, once the order book develops sufficient liquidity. Bitfinex is excited to support the NEO ecosystem and the team behind the token, and to experience first hand the growth and development of the project.

NEO is China’s first ever open source blockchain. Founded in 2014, NEO’s mission has been to reinvent the way commerce is done. We believe technology drives progress and together we can create the future. Motivated by this, NEO has been created to shift our traditional economy into the new era of the Smart Economy.”

Learn more about NEO here: neo.org
Follow their announcements here: neo.org/blog

Asset Website

https://neo.org/ [opens in new tab]

Printed

This report was printed on Monday September 11 2017 12:24 hours UTC. Contact KittyBitcoin to request custom reports. Share your thoughts with @KittyBitcoin on Twitter.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

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Tags

NEO, NEO/USD, Bitfinex, digital, asset, launch, report, tags

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@KittyBitcoin supplies mobile friendly blockchain intelligence on http://kittybitcoin.com. Their favorite color is pink and the bigger the wool ball the better.
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