Godfrey Benjamin<\/p>\n
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NEO jumps 11% to eye biggest close since early August amid EVM tease<\/p>\n<\/div>\n
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NEO is surprisingly on a rampage today, coming off as one of the best-performing altcoins on the market. At the time of writing, NEO is up 11% and its price is pegged at $8.76. This growth surge is\u00a0accompanied<\/a> by a 199% jump in trading volume, which is now pegged at $119,011,851. The NEO outlook has helped it extend its weekly gains to a high above 27%.<\/p>\n NEO is an unusual high flier, thus, this current growth trend is highly pivotal for the digital currency. Looking at the charts, NEO has not seen as much growth in a day and a week in more than eight weeks, and the current price point is the highest it has inked since early August.<\/p>\n Beyond the general resurgence in the market, birthed from the revival in the market over the past week, questions keep brewing over the possible reasons behind NEO’s bullish activation.<\/p>\n With a lot of\u00a0ongoing work<\/a> by the development team concerning the hackathon in the APAC region, expectations of a major bootstrap of decentralized applications on the blockchain protocol are high in the coming weeks.<\/p>\n As part of the aforementioned development effort, the team\u00a0revealed its plans to launch<\/a> an MEVFree Ethereum Virtual Machine (EVM) sidechain. This proposed sidechain will address fundamental issues like “security, privacy, and a smooth experience in the increasingly complex DeFi landscape.”<\/p>\n The EVM sidechain is a particularly positive milestone for NEO considering how well it will open up its ecosystem to other\u00a0EVM-compatible protocols<\/a> around. It has always been known that Ethereum maintains the biggest liquidity in the DeFi ecosystem. Plugging in through this sidechain will position it alongside Filecoin and EOS, which have also\u00a0launched<\/a> related protocols.<\/p>\n NEO said the EVM sidechain testnet is slated to go live before the end of this year.<\/p>\n<\/div>\n About the author<\/p>\nNEO teases new sidechain<\/h2>\n
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