Although Bitcoin’s sharp rises still do not bring the desired movements in most of the altcoins, it seems that some tokens are separated from the market from time to time. NEO, known as “China’s Ethereum” and whose rise in the 2017 bull season is still remembered, also showed a similar rise yesterday.
NEO, which increased by nearly 50 percent, exceeded $ 22. This level was last seen in April 2022. So, about 2 years later, NEO said “I’m here” again. NEO, which reached $200 in 2017, rose to $120 in 2021, but fell to $10 during the subsequent bear season.
Vechain also got active
Vechain, one of the coins that increased sharply in the 2021 bull season, also increased following the China news. However, this increase was much more limited compared to NEO. VET, which was traded at $ 0.040, rose above 0.047. However, as Bitcoin fell below 71 thousand dollars again, VET also went down. Vechain was founded in 2015 by Sunny Lu, the manager of the China subsidiary of the world-famous luxury brand Louis Vuitton.
As you may remember, yesterday the Chinese media stated that the country’s major fund companies had applied for a Bitcoin spot ETF in Hong Kong. After the news spread, Bitcoin rose from 69 thousand dollars to over 72 thousand dollars in a short time.
China completely banned all activities related to cryptocurrencies in 2021, but it is also known that the country wants to somehow remain connected to the crypto world through Hong Kong.
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Source: https://uzmancoin.com/bitcoin-neo-kripto-cin-token/
