NEO Price Prediction and Analysis: Green despite red market, will found vulnerability affect NEO price? Monday, May 21
Bitcoin's influence on the market
Bitcoin's price has been raising for last couple of days and even though it seems like it found a resistant at $8500, which broke the run temporarily, it will most likely try to attack $9000 again in next days, affecting the rest of the market in a positive way. It currently dropped to $8400 and most of the cryptocurrencies noted some small losses in values at around -2%. However, it's worth noting that NEO hasn't been affected that heavily and manages to stay green with +1.30% 24 hours price change.
Important NEO News
NEO Ecosystem vulnerability
On Friday May 18th, NEO released a statement informing that a vulnerability had been discovered in a number of NEP-5 smart contracts. However, many projects built upon NEO have already confirmed that there was no risk involved. For example, Blockchain Store has reported that: 'The tech team have already tested the deployed BCS smart contract on testnet. They found that BCS does not have any of the security problems mentioned above.' The same goes for Ontology, Narrative, Qlink: 'QLC holders and their accounts are safe and sound.' and many others.
NewEconoLabs Partners with Fenbushi Capital and NGC
NewEconoLabs announced a partnership with Fenbushi Capital and NEO Global Capital, which will support the launch of an open source domain name. It will be based on NEO (.neo) and allow users to create and use these domains instead of public keys as a receiving address for transactions.
NEO Price Movement Analysis
NEO price has been rather stable in past days at the $59 mark, fluctuating very peacefully with only few cents of price changes. As Bitcoin went higher and brought the rest of the market on the trip, NEO has above $60 mark and fluctuated at around $63. It is currently trading at $62.20.
NEO Price Chart (NEO/USD), Monday May 21:
There are many projects built upon NEO and their success will affect NEO itself. The news about vulnerability and potential security issues may temporarily affect the price in a negative way, however it shouldn't cause any bigger problems. NEO managed to get themselves a good and stable place in China decentralized economy and is currently heading to establish the project in South America. Without any hurdles, the price should slowly but steadily raise in next weeks.
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