Why is Neo (NEO) going up? (May 24, 2023)

Neo provides decentralized, secure, and transparent transactions thanks to Blockchain Technology. In addition to trading, users can also circulate different assets. All assets stored on Neo are legally protected. Neo describes itself as a rapidly growing and evolving ecosystem with the goal of becoming the foundation of the next-gen internet, a new economy where digital payments, IDs, and assets come together. The team behind Neo is running the EcoBoost initiative designed to build a worldwide community of developers who build new infrastructure for the network and reduce barriers to entry, as well as encourage people to create DApps and smart contracts on the blockchain.

Unlike many other blockchains, this network has two native tokens, NEO and GAS. NEO serves as an investment token and allows users to vote for possible improvements to the blockchain.

NEO is up 4.03% in the last 24 hours. The Securities and Futures Commission of Hong Kong (SFC) has announced that from June 1, 2023, individual investors will be able to trade cryptocurrencies. NEO is also known as the Ethereum of China. The fact that crypto trading will begin soon in Hong Kong, an autonomous administrative division of China, may have been instrumental in the rise of NEO.