{"id":86309,"date":"2023-10-27T18:19:27","date_gmt":"2023-10-27T15:19:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86309"},"modified":"2025-09-13T04:44:26","modified_gmt":"2025-09-13T01:44:26","slug":"neo-price-climbs-17-after-ethereum-compatibility-announcement","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/neo-price-climbs-17-after-ethereum-compatibility-announcement\/","title":{"rendered":"Neo price climbs 17% after Ethereum compatibility announcement"},"content":{"rendered":"<p>The Neo blockchain platform is developing a sidechain to support decentralized Ethereum applications and ensure compatibility with its own mainnet, N3.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Neo?src=hash&#038;ref_src=twsrc%5Etfw\">#Neo<\/a> Founder <a href=\"https:\/\/twitter.com\/dahongfei?ref_src=twsrc%5Etfw\">@dahongfei<\/a>, announcing <a href=\"https:\/\/twitter.com\/hashtag\/Neo?src=hash&#038;ref_src=twsrc%5Etfw\">#Neo<\/a>\u2019s New Chapter: an <a href=\"https:\/\/twitter.com\/hashtag\/MEVFree?src=hash&#038;ref_src=twsrc%5Etfw\">#MEVFree<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/EVM?src=hash&#038;ref_src=twsrc%5Etfw\">#EVM<\/a> compatible sidechain, to ensure security, privacy, and a smooth experience in the increasingly complex <a href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&#038;ref_src=twsrc%5Etfw\">#DeFi<\/a> landscape. <\/p>\n<p>The sidechain is under development. The testnet is planned to be launched at the end\u2026 <a href=\"https:\/\/t.co\/EO9Ck52qGt\">pic.twitter.com\/EO9Ck52qGt<\/a><\/p>\n<p>\u2014 Neo Smart Economy (@Neo_Blockchain) <a href=\"https:\/\/twitter.com\/Neo_Blockchain\/status\/1717751860021637235?ref_src=twsrc%5Etfw\">October 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to project founder Da Hongfei, the testnet will be launched by the end of 2023.<\/p>\n<p>The solution will integrate MEV-attack protections and the Ethereum Virtual Machine (<a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-ethereum-virtual-machine-evm\">EVM<\/a>).<\/p>\n<p>The sidechain is designed to deliver security, privacy, and an advanced interaction experience in an increasingly complex DeFi environment.<\/p>\n<p>Against the backdrop of Da Hongfei&#8217;s description of it as the &#8216;new chapter&#8217; for the project, the NEO token rose 17.2% in 24 hours. The asset trades around $9. This is about 95% below its all-time high of $198.4 set in January 2018.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"151\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-1-1024x151.jpg\" alt=\"Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-1\" class=\"wp-image-218926\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-1-1024x151.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-1-300x44.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-1-768x113.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-1.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Neo&#8217;s market capitalization is around $637.5 million. The token ranks 68th in the cryptocurrency rankings.<\/p>\n<p>In October 2020, the launch on the Neo blockchain of the Flamingo Finance protocol gave Da Hongfei <a href=\"https:\/\/forklog.com\/en\/news\/opinion-neo-poised-to-challenge-ethereum-in-the-defi-sector\">claim possible competition<\/a> for the project with Ethereum in DeFi.<\/p>\n<p>As of writing, the value of assets locked in the network totals $31.8 million (Neo overall\u2014$32.4 million). The ecosystem&#8217;s total TVL of the second-largest cryptocurrency exceeds $22.2 billion (<a href=\"https:\/\/defillama.com\/\">DeFi Llama<\/a>).<\/p>\n<p>In the Bitcoin community, there are also <a href=\"https:\/\/forklog.com\/en\/news\/expert-explains-the-need-to-integrate-bitcoin-with-the-evm\">proposals<\/a> to integrate the blockchain of digital gold with the EVM. Such solutions <a href=\"https:\/\/forklog.com\/en\/news\/expert-weighs-in-on-ethereum-compatible-bitcoin-network-concept\">have backing<\/a> among experts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Neo blockchain platform is developing a sidechain to support decentralized Ethereum applications and ensure compatibility with its own mainnet, N3.<\/p>\n","protected":false},"author":1,"featured_media":86310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1970,488,596],"class_list":["post-86309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-neo-blockchain","tag-sidechains","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=86309"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86309\/revisions"}],"predecessor-version":[{"id":86311,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86309\/revisions\/86311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/86310"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=86309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=86309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=86309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}