Despite proactive negative trends that brought the market to crypto winter, the top currencies are still managing to score positive returns on weekly basis, while NEO is in addition to weekly gains of 8% also scoring daily return of 3% in the last 24 hours.
Although cryptocurrency market had cost many investors’ their life savings dropping by -90% in less than a year, crypto-based startups and companies are still finding ways to survive thanks to the fact that many investors believe in the foundational technology that blockchain represents.
That is how NEO Global Development team announced that they will be opening a regional office in Seattle, Washington, that way expanding their offices to the US market as NEO is experiencing upward trends in the market.
NEO (NEO) Up by Over 8% in the Last Week’s Run
NEO is spiking despite the cryptocurrency winter that managed to drop the overall value of the crypto market by -90% in the course of a single year, pulling NEO down against the fiat by -93% on YTD.
However, it appears that the top trading cryptocurrencies are acquiring upward trends in the last couple of weeks in oppose to the previous dip that started out back in mid-November, which is how we can see NEO progressing as well.
Followed by the expansion of NEO foundation to their upcoming office in Seattle, Washington, NEO is also progressing in the market, recording around 8.5% of gains in the last seven days.
Additionally, NEO is going up in the last 24 hours on February 17th, trading 3.3% up against the fiat, also recording nearly 16% in the course of the last two weeks and 8.2% in the last 30 days.
When compared to its top trading peers, it seems that the majority of top trading coins on the list of top 20 are showcasing signs of recovery in the last two months, which is how NEO is showing 23.4% of gains in the last 60 days as well.
What might help NEO achieve an even more benevolent rate of growth in the following period is the fact that the new regional office will be led by Microsoft’s former executive, John deVadoss who will take over the role of the director.
NEO Targeting Developers in Seattle due to “Huge Developer Resources”
The main feature that NEO has to offer to investors is the ability to use smart contracts in order to create different types of decentralized applications, which is at the same time where the value of NEO as a project is focused.
NEO is competing with Dapp giants such as Ethereum (ETH), EOS (EOS) and the emerging TRON (TRX) reporting to have more developers joining the network, which is how the expansion to Seattle might be a good call for the market price as well.
In accordance with NEO foundation, Seattle has “huge developer resources and a strong atmosphere of innovation”, which is why NEO had placed their office in Seattle, focused on technological development of the project.
The project representatives claim that the expansion will help the team enhance the experience of NEO’s developers, with the ultimate goal of making NEO the friendliest blockchain platform for developers across the globe.
Image Credit: CryptoMarket