The cryptic Tweet that was posted recently by the NEO Smart Economy’s official Twitter account in Mandarin alluded that we would be witnessing something new in July. In the meantime, the entire community has been asked to stay tuned. The translation of the poster reveals that in July we will be seeing ‘one session’ and ‘three things. Should we anticipate a major event in July? This is something that we will just have to wait and see.
Current state of affairs
It is worth mentioning that that this isn’t the first time that the NEO team is taking to posting a message of this nature. It was in the previous year in November that Malcolm Lerider who happens to be a council member for NEO posted ‘a challenge to the community.’
The tweet is receiving a wide range of interpretations as we progress. It is resulting in a lot of hype and that serves as the perfect explanation as to why the price of NEO shot up by a significant margin causing great frenzy. Later on it was discovered that it had everything to do with its development competition.
The new tweet is starting top spark about a lot of emotion with the community trying to create link between the two tweets. The parallel being drawn at the moment is, “Let’s just hope you learned from the last time.”That was in close reference to the hype that ensued the last time which according to sources was managed quite poorly.
Drawing the parallel
It is rather incidental that at the time of the previous tweet NEO had been trading at about $28 and it was able to go over $40.Today’s trading shows NEO trading at about $29 but whether this tweet will result in an almost similar effect on the price is something that no one can speak about conclusively.
It is indeed true that such a Tweet is a good one when it comes to playing a promotional role. However, these Tweets from NEO and other projects have faced great criticism with critics saying they have a habit of ‘creating announcements out of announcements, “a scenario that would most probably result in short-lived price increases to later be followed by dumps.
The role of NEO
NEO happens to be one of the top coins that run on the Ethereum blockchain. A person well conversant with the matter has disclosed that it targets resolving most of the things that are wrong with Bitcoin. It was way back in 2013 that Buterin unveiled Ethereum’s whitepaper and in 2015 the crowdsale was launched. It ended up raising almost $18 million USD.
A short while after a Chinese version of Ethereum called Antshares was unveiled by a non-profit Blockchain project in Shanghai known as OnChain. It was in the previous year that we were presented with the name NEO which was a rebranding.
The NEO platform is a supporter of smart-contracts and a large number of people usually refer to it as the “Chinese Ethereum.” That is because of the fact that the two platforms usually perform functions that are pretty similar in nature.