The cryptocurrency NEO, formerly Antshares, has successfully entered the top 10 list of the major digital currencies as of early August 2017, thanks to a sharp increase in its share price.
The cryptocurrency NEO, formerly Antshares, has now entered the top 10 list of digital currencies by market cap. The virtual currency registered a 25.84 percent increase in its price over the weekend.
Meanwhile, the leading cryptocurrency Bitcoin was able to remain on top of the list as it was able to hold its price around the $3,175 mark while several other currencies faltered.
Performance of other virtual currencies
NEO’s price increases come as Bitcoin Cash experiences a slow drop in its price. However, Bitcoin Cash remains the fourth-biggest virtual currency in terms of market capitalization.
Meanwhile, Ethereum has posted a slight increase in its price after experiencing some setbacks in the past few weeks. The currency’s price has increased by 7.25 percent in the past 24 hours. In the past, Ethereum experienced such issues as initial coin offering (ICO) hacks and network problems that resulted in the decline of its price.
Several currencies were able to maintain their prices during the weekend. Among them are Ethereum Classic, Dash, NEM and Litecoin.
NEO’s bid to become the Ethereum of China?
NEO’s surge bodes well for its ambition to become the Ethereum of China. NEO has recently gained some notoriety due to its collaboration with Chinese certificate authorities to map real-world assets using its smart contract technology. NEO has also signed partnership agreements with several startup companies.
It remains to be seen if NEO can maintain its position in the top 10 due to these and possibly other developments, or if it will slide back off the list as many have done before it.