Despite a broader market rebound, the Neo (NEO) price has been slipping and testing a key medium-term uptrend. Neo, a smart contract blockchain launched in 2014 and rebranded as Neo in 2017, has a market cap of over $1.1 billion but has not achieved the same level of adoption as other smart contract blockchains like Ethereum. The current price of Neo is close to $16, down significantly from its record high of near $200 in 2018. Despite its age, Neo has failed to attract investors to its smart contracts, as indicated by its low trade value locked (TVL). This lack of adoption in the face of a $1 billion market cap demonstrates the irrationality of crypto markets.
The Neo price appears to be on the verge of a bearish technical breakout that could result in a 40% drop in value. Broader crypto market conditions could remain bearish following Bitcoin’s drop under $60,000, with Bitcoin ETF demand experiencing outflows and uncertainties around rate cuts from the Fed. Despite these challenges, Neo could potentially recover to $20 as sentiment improves, and its market cap would only be $1.4 billion at that price. However, traders should be cautious as Neo remains a risky bet with uncertain adoption prospects even after being in existence for 10 years.
Investors with a high-risk tolerance considering investments in risky coins like Neo may want to explore other high-risk, high-reward strategies such as presale investing in upstart crypto projects. Presale investing involves buying tokens of projects before they gain traction, presenting the opportunity for significant gains if the project succeeds. Wiener AI (WAI), a new AI meme coin, has attracted attention for its potential as a market leader in the space. With over $800,000 raised in presale, the WAI price is currently around $0.000703 with a market cap of $45 million. Investors could potentially see gains of 10x or more if WAI becomes successful as a passive income gem.
Investors interested in Wiener AI and presale investing need to move quickly, as the price of WAI will rise when the presale reaches $1.1 million. With 20% of the supply allocated to staking rewards, presale investors are currently earning a massive 1091% APY, allowing them to double their initial investment in under one month. While presale investing carries risks, identifying high-potential projects like Wiener AI could lead to substantial returns. However, it is important to exercise caution and conduct thorough research before venturing into high-risk investments such as cryptocurrency. This content is provided for informational purposes and does not constitute investment advice, and investors should be aware of the potential to lose all their capital in high-risk asset classes like crypto.
