{"id":519272,"date":"2023-02-10T13:50:11","date_gmt":"2023-02-10T13:50:11","guid":{"rendered":"https:\/\/wncen.com\/?p=519272"},"modified":"2023-02-10T12:58:12","modified_gmt":"2023-02-10T12:58:12","slug":"altcoin-surprises-investors","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/altcoin-surprises-investors\/","title":{"rendered":"This Altcoin Surprises Investors With 76% Gains In The Last 24 Hours – Find Out Here"},"content":{"rendered":"

Last month saw many surprises which took the cryptocurrency industry by storm. This “love month”, an altcoin is surprising investors with a sudden spurt in price. <\/span><\/p>\n

GAS, one of the native tokens of the Neo Blockchain ecosystem, has <\/span>jumped<\/span><\/a> by more than 76% in the daily time frame, at the time of writing.\u00a0<\/span><\/p>\n

According to CoinGecko, this made the token outperform the broader crypto market by 5% as major cryptocurrencies like Bitcoin and Ethereum <\/span>slump<\/span><\/a> due to their respective resistances. <\/span><\/p>\n

The recent bullish price movement of GAS can be attributed to Neo\u2019s take on Web3 development.\u00a0<\/span><\/p>\n

Neo\u2019s Two-Token System: How Does It Work?\u00a0<\/strong><\/h2>\n

According to their <\/span>website<\/span><\/a>, Neo is built with one thing in mind: to create a solid foundation for the next-generation internet. For the community-driven protocol to make this vision a reality, it devised a <\/span>two token system<\/span><\/a> for the ecosystem to thrive. NEO and GAS work together to bring a streamlined user experience on-chain.\u00a0<\/span><\/p>\n

NEO is the ecosystem\u2019s governance token, designed to be used in staking and in voting for changes to be implemented. Limited to a total supply of 100 million, this would be the backbone in which Neo\u2019s innovative blockchain would be built upon.\u00a0<\/span><\/p>\n

\n

$gas<\/a> just did 300% today :). what a green dildo!! so soooooo happy, and took profits .. 2yrs accumulating this coin (along with $neo<\/a> \/ $gas<\/a>) …. very happy for todays move! pic.twitter.com\/yDwMxyPMDX<\/a><\/p>\n

\u2014 Jose Fajardo \ud83c\uddfa\ud83c\udde6 (@josefajardo) February 9, 2023<\/a><\/p><\/blockquote>\n

Once the NEO token is staked, the user is eligible to receive GAS in return. This token is Neo\u2019s utility token, used in daily transactions on the blockchain. For every block mined on the blockchain, five GAS tokens would be minted that will be distributed to beneficiaries of the network.\u00a0<\/span><\/p>\n

GAS At $4.84 – Can The Token Hold Out?\u00a0<\/strong><\/h2>\n

At the time of writing, the token has been rejected at $8.587 which is inevitable as investors would start exhibiting profit taking attitudes in the short term. With <\/span>Twitter users<\/span><\/a> being overly bullish in the short term of the token, investor sentiment at the moment is quite euphoric.<\/span><\/p>\n

Related Reading: Luna Classic Faces Strong Resistance At This Level \u2013 Can Bulls Barrel Through?<\/a><\/div>\n

Investors and traders should then be careful of the token\u2019s short term as more eyes gather attention on GAS. This in turn would contribute to the sell pressure on the market. Once the inevitable correction phase of GAS begins, GAS bulls should be able to see support at $3.\u00a0<\/span><\/p>\n

<\/p>\n

Crypto total market cap at $968 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading: Ethereum All In Crimson As ETH Struggles To Reclaim $1,600<\/a><\/div>\n
However, this support line is weak which could make the token revert back to the $2.4 support range. Investors and traders should then be careful in investing on GAS and should familiarize themselves with Neo\u2019s tokenomics.\u00a0<\/span><\/p>\n
As more information and on-chain developments unfold for Neo, GAS and NEO might experience independent price movements. With Neo\u2019s commitment to building the next-gen internet, the long-term prospect of GAS might be bullish.\u00a0<\/span><\/p>\n
Featured image from Reuters<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Last month saw many surprises which took the cryptocurrency industry by storm. This “love month”, an altcoin is surprising investors with a sudden spurt in price. GAS, one of the native tokens of the Neo Blockchain ecosystem, has jumped by more than 76% in the daily time frame, at the time of writing.\u00a0 According to CoinGecko, this made the token outperform the broader crypto market by 5% as major cryptocurrencies like Bitcoin and Ethereum slump due to their respective resistances. The recent bullish price movement of GAS can be attributed to Neo\u2019s take on Web3 development.\u00a0 Neo\u2019s Two-Token System: How Does It Work?\u00a0 According to their website, Neo is built with one thing in mind: to create a solid foundation for the next-generation internet. For the community-driven protocol to make this vision a reality, it devised a two token system for the ecosystem to thrive. NEO and GAS work together to bring a streamlined user experience on-chain.\u00a0 NEO is the ecosystem\u2019s governance token, designed to be used in staking and in voting for changes to be implemented. Limited to a total supply of 100 million, this would be the backbone in which Neo\u2019s innovative blockchain would be built upon.\u00a0 $gas just did 300% today :). what a green dildo!! so soooooo happy, and took profits .. 2yrs accumulating this coin (along with $neo \/ $gas) …. very happy for todays move! pic.twitter.com\/yDwMxyPMDX \u2014 Jose Fajardo \ud83c\uddfa\ud83c\udde6 (@josefajardo) February 9, 2023 Once the NEO token is staked, the user is eligible to receive GAS in return. This token is Neo\u2019s utility token, used in daily transactions on the blockchain. For every block mined on the blockchain, five GAS tokens would be minted that will be distributed to beneficiaries of the network.\u00a0 GAS At $4.84 – Can The Token Hold Out?\u00a0 At the time of writing, the token has been rejected at $8.587 which is inevitable as investors would start exhibiting profit taking attitudes in the short term. With Twitter users being overly bullish in the short term of the token, investor sentiment at the moment is quite euphoric. Related Reading: Luna Classic Faces Strong Resistance At This Level \u2013 Can Bulls Barrel Through? Investors and traders should then be careful of the token\u2019s short term as more eyes gather attention on GAS. This in turn would contribute to the sell pressure on the market. Once the inevitable correction phase of GAS begins, GAS bulls should be able to see support at $3.\u00a0 Crypto total market cap at $968 billion on the daily chart | Chart: TradingView.com Related Reading: Ethereum All In Crimson As ETH Struggles To Reclaim $1,600 However, this support line is weak which could make the token revert back to the $2.4 support range. Investors and traders should then be careful in investing on GAS and should familiarize themselves with Neo\u2019s tokenomics.\u00a0 As more information and on-chain developments unfold for Neo, GAS and NEO might experience independent price movements. With Neo\u2019s commitment to building the next-gen internet, the long-term prospect of GAS might be bullish.\u00a0 Featured image from Reuters<\/p>\n","protected":false},"author":557,"featured_media":519278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,14690,9846,87814,3505],"class_list":["post-519272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-crypto-news","tag-gas","tag-neo-blockchain","tag-price-analysis"],"acf":[],"yoast_head":"\nThis Altcoin Surprises With 76% Gains In The Last 24 Hours<\/title>\n<meta name=\"description\" content=\"Last month saw many surprises which took the cryptocurrency industry by storm. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"This Altcoin Surprises Investors With 76% Gains In The Last 24 Hours – Find Out Here","url":"http:\/\/wncen.com\/news\/altcoin-surprises-investors\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/altcoin-surprises-investors\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-19.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-19.png?fit=565%2C403"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto news","gas","neo blockchain","price analysis"],"dateCreated":"2023-02-10T13:50:11Z","datePublished":"2023-02-10T13:50:11Z","dateModified":"2023-02-10T13:50:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"This Altcoin Surprises Investors With 76% Gains In The Last 24 Hours – Find Out Here\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/altcoin-surprises-investors\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/altcoin-surprises-investors\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-19.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-19.png?fit=565%2C403\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto news\",\"gas\",\"neo blockchain\",\"price analysis\"],\"dateCreated\":\"2023-02-10T13:50:11Z\",\"datePublished\":\"2023-02-10T13:50:11Z\",\"dateModified\":\"2023-02-10T13:50:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-19.png?fit=565%2C403","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519272"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=519272"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519272\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/519278"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=519272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=519272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=519272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}