Neo N3 MainNet goes live: should you invest in NEO in Q3 2021?

Neo NEO/USD is the native cryptocurrency token that powers the Neo blockchain and can be used for sending, spending, staking, and holding.

The N3 MainNet launch as a catalyst for growth

On August 2, Neo launched the Neo N3 MainNet which marked a huge milestone for Neo as well as the blockchain sector.

With this launch, Neo will move to bridge together the on and off-chain worlds by providing an innovative feature set that will map the off-chain assets into the blockchain.

However, we might see increased activity in the Neo blockchain, and an increase in the circulating supply and trading volume of the Neo token, as token holds begin migrating GAS and NEO tokens from Neo Legacy to Neo N3.

Should you invest in Neo (NEO)?

On August 3, the price of Neo (NEO) was $42.

NEO achieved its all-time high value of $198 on January 15, 2018. This means that its value on August 3 is 371% lower. To put things into perspective about its recent growth, we will be looking at July. On July 31, NEO saw its highest value point of the month at $47. Its lowest point was on July 20 at $25. In other words, at one point it was 12% higher, and at another, it was 40% lower, but this is the margin difference we can expect.

On September 1, after the completion of the N3 MainNet setup, we can expect a mass migration of Neo and GAS tokens, where Neo incentivizes the migration through rewards.

These rewards include a 1% bonus per 100 migrated NEO, 0.75% bonus per 134 migrated NEO, and 0.5% bonus per 200 migrated neo.

In other words, a lot of users will start migrating and start earning rewards on the NEO tokens they already have, which makes this an excellent opportunity.

The more NEO tokens you migrate, the more rewards you’ll get, as the NEO tokens will literally bring more bonuses.

The post Neo N3 MainNet goes live: should you invest in NEO in Q3 2021? appeared first on Invezz.

Publication date: 
08/03/2021 - 18:36

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.