Home Finance NEO (NEO) Has Dropped Below $100 Due To A ‘Twitterstorm’

NEO (NEO) Has Dropped Below $100 Due To A ‘Twitterstorm’


NEO (NEO) has dropped below $100 on March 8th and has remained orbiting a little above $90 level since then, due to a ‘twitterstorm’. Today, NEO (NEO) seems to be recovering.

This is how it started

The culprits for this NEO (NEO) drop of value against the USD were some events unfolded on Twitter that presented an allegedly ‘bug’ on the NEO blockchain which was close to crashing the whole network.

In the beginning, there was a twit made by Malcolm Lerider from the NEO network via which he implied that a network node has crashed and caused the crash of several other nodes.

According to Malcolm Lerider, this was “an edge case deadlock” but the issue has been solved out by simply resetting all the seven nodes and the edge case deadlock will be resolved with a patch.

The issue has created a block lag in the network.

A twitterstorm has been created and NEO (NEO) declined

Eric Wall, a columnist for Bitcoin.com’s “The Wall”, has commented on his Twitter profile on the Malcolm Lerider twit. His twit has become viral as many cryptocurrencies influencers re-twitted Eric’s comments.

As I’ve mentioned, NEO (NEO) representatives have managed to solve the issue and, honorably, Eric Wall has recently presented his apologies for considering NEO incapable of remediating such an issue.

NEO (NEO) price

At the moment of this writing, the NEO (NEO) crypto coin is trading at $91.77 enjoying a 10.22% increase in the last 24 hours.

Yesterday, NEO (NEO) closed at $92.67 and it is supposed that it will close today above this level.

The long-term predictions forecast NEO (NEO) will settle steadily above $100 by mid-2018 and will reach to about $200 by the end of 2020.

NEO (NEO) council assured the NEO community that the issue is gone

NEO council has presented a statement in which is explained how the issue has appeared and how it has been solved out.

The NEO representatives assured the community that NEO is up and running and no harm has been done by the issue.

However, the ‘twitterstorm’ has negatively impacted on the NEO (NEO) value and, as we speak, NEO (NEO) is struggling to recover above $100.