NEO recorded the biggest gains in the crypto market over the past 7 days.
The price of Neo (NEO) has appreciated by almost 21% in the last week. The main reason behind this increase seems to be the partnership that the cryptocurrency developers established with the payment gateway Alchemy Pay.
Last week, developers at Neo Global Development announced their partnership with Alchemy Pay, in a move that allows holders and users of the cryptocurrency the possibility of using NEO to pay for different services, such as those on the Shopify and Arcadier platforms, through Alchemy Pay's merchant networks, thus increasing the utility of this digital asset.
John Wang, Neo’s Director of Green Growth, also highlighted that the partnership between Neo and Alchemy Pay will facilitate access to cryptocurrency for people around the world, helping to boost its usage and adoption.
On the other hand, app developers building on the Neo blockchain can also benefit from the partnership with Alchemy Pay, as they can easily implement the global payment gateway into their DApps and blockchain solutions.
NEO price up 21% in a week
The NEO price on the market reacted positively to the partnership between Neo and Alchemy Pay. Since last week, when the news broke, the price of NEO has maintained an almost constant upward trend, rising by 21% on average.
Data from CoinMarketCap shows that the price of NEO rose from $9,27 on Monday to $11,18 today.
Source: CoinMarketCap
In the past week, Neo’s market cap has gained over $130 million, currently ranking it as the 59th largest cryptocurrency in the market. Also, trading volume on NEO has seen a significant increase, surpassing $109 million in trading volume per day.
What is Neo (NEO)?
Neo is a cryptocurrency and blockchain ecosystem focused on scalability and data storage for the next generation of the internet. This cryptocurrency uses the dBFT consensus protocol, which allows it to offer a high level of performance, speed and low cost when processing transactions on the network.
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