Resurgence of Once-Dormant Cryptos: NEO and Others Make Impressive Gains
The Return of NEO: A Striking 33.5% Surge
The asset colloquially termed as the “Chinese Ethereum,” NEO, has seen a remarkable resurgence. The digital currency soared 33.5% in the past 24 hours, making an upward leap from $15.30 to $20.40. This ascent marks NEO’s highest valuation since April of the prior year, succeeding a precipitous descent from its peak of $120 in May 2021 to an approximate low of $13.
This impressive stride constitutes NEO’s finest day since the 40.7% spike observed on January 20, 2023, suggesting a shift away from previously bearish trends. NEO’s breakthrough past the EMA10 resistance level and the weakening of the ADX indicator into a zone of uncertainty further corroborate this emergent bullish sentiment.
VeChain’s Consistent Momentum: An 8% Uptick
EOS Out of Hibernation: Gains by 7%
EOS has emerged from its cocoon today with a notable 7% gain, soaring from $1.00 to $1.10. Established by an Ethereum co-founder and boasting the largest ICO in the history of crypto, collecting a staggering $4.2 billion back in 2017, EOS’s recovery is a point of interest, especially as it moves past the resistance of a bearish triangle which has been forming since March 2024.
Currently, with a total market cap of $1.2 billion, EOS could very well be on the threshold of a bullish breakthrough given its ADX sits at a low 16 points, indicating feeble bearish strength.
IOTA Climbing Steadily: A Modest 4.72% Increase
In the web3 recruiter’s purview, IOTA too deserves a mention. Concentrated on the Internet of Things (IoT), IOTA once garnered substantial interest due to major brand partnerships and governmental collaborations. Despite faltering post-2018, IOTA has today reported a 4.72% rise, from $0.30 to $0.32. However, amidst this uptick, IOTA’s indicators appear less bullish, with a shrinking EMA10 and EMA55 gap and an RSI at 50, denoting a balanced tug-of-war between buyers and sellers.
It is notable that while the market behaviours of these cryptocurrencies spark intrigue, not all exhibit unequivocal bullish signals, underscoring the necessity for prudent analysis in the volatile digital asset environment.
For professionals within the blockchain and cryptocurrency sectors, these market movements could signal new opportunities on both the technological and financial fronts. As such, keeping abreast of these shifts is critical for attracting top talent and securing advantageous positions within this ever-evolving industry.
Spectrum Search remains at the forefront, aligning with the latest trends in the cryptocurrency market, recognising their impact on the recruitment process and the broader implications for the web3 space. Our commitment to providing insightful resources is reflected in our comprehensive reports, which are designed to empower our community with the knowledge to make informed decisions and harness the potential offered by these emerging technologies.
Discover more about the market trends, crypto recruitment strategies, and the ever-growing web3 developments at Spectrum Search, where we piece together the future of web3 talent acquisition.
