The NEO price history has fluctuated significantly since its mainnet launch and initial coin offering (ICO) in 2016.
The price of NEO, a cryptocurrency focused on smart contract technology and aiming to create a decentralised ecosystem, has fluctuated significantly since its mainnet launch and initial coin offering (ICO) in 2016.
Following its rebranding from 'AntShares' to NEO in June 2017, the cryptocurrency experienced a substantial surge in value, rolling with the wave of the broader cryptocurrency bull market. The rebrand, along with the launch of NEO 2.0, which brought smart contract functionality amid growing market interest in smart contract platforms, contributed to a remarkable increase in the coin’s valuation.
From an ICO price of $0.032, NEO reached its all-time high of $196 by January 2018. However, the cryptocurrency market downturn - often referred to as 'Crypto Winter' - had a striking impact on the coin, which dropped to below $8 by December 2018. This period was characterised by increased regulatory scrutiny, particularly in China, which affected NEO due to its strong ties to the Chinese market.
NEO saw a resurgence in 2020 and 2021, driven by growing interest in decentralised finance (DeFi) and smart contract platforms. The announcement of Neo3 (N3), promising enhanced security features, optimised transaction speeds, and improved tooling for developers, further boosted market optimism. The price fluctuated between approximately $9 and $25 in 2020, reflecting the volatile nature of the crypto market
The years 2022 and 2023 saw NEO's price movements influenced by a combination of technological advancements and broader market trends. The continued expansion of the Neo ecosystem, including the growth of NeoFS (decentralised storage) and NeoID (decentralised identity), maintained interest in the cryptocurrency.
However, macroeconomic factors and regulatory uncertainties in various jurisdictions continued to impact price volatility, with NEO closing below $14 by the end of 2023.
The year 2024 started with NEO trading at around $10.35, followed by a substantial rally in February following the announcement of the NEO EcoBoost 2.0 program, which allocated $200 million to support ecosystem growth. By March, the price had climbed higher, but in May, a broader cryptocurrency market correction, triggered by regulatory concerns in the US, caused NEO to drop again.
The successful launch of Neo X, an Ethereum Virtual Machine (EVM)-compatible sidechain, in July 2024 reignited interest in the project, pushing the price back up by August 2024. The final quarter of 2024 saw NEO's price stabilise around $12.50, as the market digested the impact of these developments and awaited further progress on Neo's roadmap, particularly the anticipated improvements to NeoFS and NeoID systems.
