As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I can’t help but feel a sense of intrigue when witnessing the meteoric rise of Neiro on ETH (NEIRO). Having closely followed the crypto market’s ups and downs since its inception, I’ve seen my fair share of tokens that have soared to unprecedented heights only to crash just as swiftly.
TL;DR
- Neiro on ETH (NEIRO) surged by 250% in the past week, supported by major exchanges like Binance and Crypto.com.
Analysts are optimistic about its future, predicting further gains and comparing its potential to previous explosive growth in other meme coins.
The Top Performer
Recently, the market for meme coins seems to have slowed down significantly, as many tokens have struggled to perform well over the past week. Interestingly, one coin that has stood out and recorded notable growth during this period is Neiro on Ethereum (NEIRO).
The meme-based cryptocurrency, that made its debut this summer, has experienced a dramatic surge in value over the past week, with its price increasing approximately 250%. As of now, it’s trading at around $0.15 according to CoinGecko’s data, and its market capitalization exceeds $150 million.
NEIRO’s comeback might be due to the backing they received from major cryptocurrency trading platforms. For instance, Binance introduced a USDT-margined NEIRO/ETH perpetual contract with up to 75 times leverage as one of their offerings.
For this product, the highest interest rate you can earn or pay is between +2% and -2%. On the other hand, its funding fee gets settled every four hours. Notably, the Multi-Assets Mode is activated for this trading pair, allowing users to utilize multiple cryptocurrencies as collateral when making trades.
In essence, perpetual contracts offer a means for investors to venture into the price fluctuations of digital assets without actually possessing them. These contracts come with substantial leverage, lack an expiration date, and necessitate maintaining a specific collateral amount to maintain active positions.
Additionally, Crypto.com, another well-known platform, has adopted the NEIRO token. This means users can deposit or withdraw NEIRO/ETH through the ERC-20 protocol.
Deposits and withdrawals of $NEIROETH via ERC-20 have just been enabled on the App.
Launch the App @NeiroOnEthereum
— Crypto.com (@cryptocom) September 9, 2024
Further Rally on the Horizon?
Recently, many analysts have praised NEIRO‘s advancements, predicting further growth in the coming time. User Eric Cryptoman on platform X believes that the asset is on the verge of an exponential increase.
Anticipating further uncertainty around Bubble Maps could trigger a significant drop. Continue to sell, as the most robust rallies are fueled by persistent uncertainty.
MoneyLord also expressed optimism, suggesting that NEIRO could replicate WIF’s achievements from March this year. In a remarkably short period of just about 30 days, the meme coin associated with Solana experienced a significant price surge from around $1.50 to nearly $5. This rapid increase in value was accompanied by a substantial rise in its market capitalization, surpassing $4.5 billion.
The analyst proposed that NEIRO will operate continuously once started, similar to DOGE. Initially, it could generate between 2 and 7 billion, while in the long term, its potential value could range from 10 to 30 billion.
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2024-09-09 16:17