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Since their lows in mid-December the cryptocurrencies have recovered somewhat and are making slow but solid progress in the new year. Some behave better than others, Tron is one and Neo is the other because it rises over 20% this week.
Last month it was reported that Russia had requested a formal partnership with the developers of the Neo platform through a document from the Russian Association of Cryptocurrency and Blockchain. Newnewstoday.com has collected the article stating that the NEO Center of Competence in St. Petersburg said it had received a letter requesting the collaboration "in accordance with the request of the President of the Russian Federation, Vladimir Putin" .
Related articles are emerging today about the Russian government's plans to invest huge sums of money in Bitcoin and cryptocurrencies in anticipation of new US sanctions that require diversification. According to Vladislav Ginko, lecturer at the Russian Presidential Academy of Moscow for the national economy and public administration;
"Because of US sanctions, the Russian elite is forced to unload US assets and US dollars and invest heavily in Bitcoin, the Russian central bank occupies 466 billion dollars in reserves and must diversify if there are any limited opportunities to do so (in the future) … I think Russia (Government) will begin to diversify its reserves with Bitcoin in February this year, when the United States Congress will introduce new sanctions against Russia ".
Today the flow of NEO reddit is full of rumors and speculations about this collaboration and injection of Russian cryptocurrency, while the NEO increases in price. At the time of writing NEO did 15% in the day and was the best performing cryptocurrency in the first forty. This allowed him to overturn both Ethereum Classic and NEM to win the sixteenth place by market capitalization, which currently stands at $ 617 million. During the week the NEO gained 22% from $ 7.77 to $ 9.50 where it is currently on the market. Daily trading volume has doubled in the last 24 hours from $ 100 to $ 200 million.
In addition to the Russian connection, the NEO has also been listed among the top ten global public blockchains by the Chinese Center for the Development of Information and Industry (CCID);
In the last annual ranking released by the Chinese Center for the Development of Information and Industry (CCID), which is under the Ministry of Industry and Information Technology of the country,#NEO is listed as Top 10 Global Public Blockchains in Basic-Tech. #blockchain #crypto pic.twitter.com/my6mBMFUcZ
– NEO Smart Economy (@NEO_Blockchain) January 7, 2019
However, it is no wonder that China constantly classifies projects at home compared to others, so statistics, along with the monthly charts of the Chinese charts, can be taken with a pinch of salt.
NEO has a forthcoming Devcon 2019 and NEX event and with consensus algorithm improvements leading up to NEO 3.0, so this year will be very bullish for the & # 39; Chinese Ethereum & # 39; as is often dubbed.
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