In this issue of HODL THAT! we are going to take a look at NEO. After being hit hard by the recent dump fest, it has hit our buy zone, currently ranging from support levels. The community is split about NEO: many think it is Asian Ethereum, while some think it is an overhyped blockchain, based on garbage code. There are always many rumors around NEO – again and again. The bottom line of those is most often, that NEO is the Chinese governments favorite domestic crypto project and it is regularly in the talk if it could be the default – or even only allowed – platform to carry out ICOs in China. But we put the bla bla aside and focus on what we have for real.
Besides all those unconfirmed rumors, there is a strong fundamental around the coin founded by Da Hongfei. NEO will issue an airdrop for ONT tokens – and the great thing is, that this news is officially confirmed.
About the free ONT tokens:
Ontology is a next-generation multi-chained public chain infrastructure platform initiated by Onchain, a leading blockchain technology company in China. It is also a common platform that supports a decentralized trust ecosystem.
Ontology has provided 20 millions of its token to the NEO Council – and those pay it forward to the NEO holding community. Here are the facts for the airdrop:
- For each NEO you hold, you will get 0.2 ONT, while you will receive firstly only 0.1 ONT.
- 50% of the airdrop will be received and tradable right away (0.1 ONT per NEO), the other half will be locked until the Ontology MainNet has been released in Q2 – you can then claim this 50 % (again 0.1 ONT per NEO at time of the snapshot) there.
- The snapshot for the airdrop will be taken at block height 1974823, which will be probably on March 1st, 2018, around 5:00 am PST. Check the NEO Tracker to find out at which block we are right now.
The news seems to be not yet priced in with $NEO against USDT, and it is still near enough to the support zone to be a good profitable trade. In a nutshell, we have the verified news, which is likely to impact the price positively and an undervalued price of the coin – this is the magic mix we need for a HODL THAT! If you are happy to get some ONT you can keep your NEOs until the airdrop, if you are a day trader looking to increase your equity you should make use of the old rule “Buy the rumor, sell the news” and sell your NEOs before the airdrop.
Please note this setup is only valid against USDT or USD, not against BTC
Our Entry: We look for an entry >100 USDT
Exchange: Binance (pays $GAS for holding $NEO)