While Bitcoin (BTC) is gaining on the value for the last seven days, the market has entered a period that looks like a rebound as well.
In the meanwhile, NEO (NEO) is ranked as the 20th top cryptocurrency on the list of all digital assets, rising by over 7% in a single-day trade as recorded on May 14th, taking the 19th spot on the list only a day before.
The rest of the crypto market also appears to be going through a period of bouncing back up against the fiat, with Bitcoin almost touching the price of 8,000$ with the weekly increase by 34%.
At the same time, NEO went up by 17.6% in a single week, recording an important milestone by having NEO blockchain receiving 100 million dollars in funding.
Can NEO (NEO) Take the Rebound to the Next Level? NEO UP by Nearly 18% in a Week
NEO is following the latest positive trend in the crypto market, which seems to be led by Bitcoin as BTC was the first crypto in the market to show serious signs of rebounding.
NEO is not an isolated case within this trend, or even one of the top gainers, however, the crypto is showing a stable pace of growth with nearly 8% of increase in the value in the course of 24 hours.
Thanks to the latest rebound that apparently arrived as a true refreshment in the market of cryptocurrencies, NEO is also showing positive returns bi-weekly as well, with over 14% of increases.
Additionally, losses were cut to -2.9% accounting for a 30-day period,
Still, NEO lost over -80% of its value in the period of between May 2018 and May 2019, while the most of the value was cut back in November 2018 during major price cuts.
NEO Receives 100 Million Dollars in Funding for Dapp Development and Growth
One of the key values of NEO currency and NEO blockchain lies in the ecosystem of decentralized applications, also making the core of NEO infrastructure.
NEO places a great value in Dapp development, which is why 100 million dollars in funding is more than just good news for NEO.
Moreover, a part of the funds will also be used for support, projects and community ventures, while projects built on NEO should be supported by the multi-million funding.
NEO Making Steps Towards Mass Adoption Ahead of Its Rebound in May
Back in April, NEO announced that a fintech company based in London, named Zeux, made an important deal with NEO blockchain.
The deal allows Zeux users to use NEO units as a currency in order to pay for services and products on Samsung Pay and Apple, which is a significant step towards the general plan for mass adoption of cryptocurrency and digital assets.
Combined with the recent funding for NEO blockchain development and bullish behavior in the market, NEO currency may be looking at a prolonged rebound.
The latest closing price, concluded with May 14th was set at nearly 10.5$ according to CoinMarketCap.