Why has GAS token been pumping harder yet the Native coin NEO isn't?

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Quote from: Bitcoin_Arena on November 12, 2023, 07:48:03 PM

Market cap when it comes to crypto doesn't mean much because of the ever-changing circulating supplies. To show that things have been very different since their last all-time highs in 2018

and that's why marketcap matters. If new tokens are released, they must find a buyer. If they cannot find it, they are dumped on the market, lowering the price. In most cases finally reaching the market cap before the issuance of new tokens. Marketcap shows how much the entire project is worth. The price of one token is only the marketcap divided by the supply.

Quote from: Bitcoin_Arena on November 12, 2023, 07:48:03 PM

NEOs Market cap was at $2Billion, Gas' marketcap was at $800M.

So in 2019 NEO was a little more than 2x bigger than GAS. Now its 7 times bigger which proves that this is not the case at all that "people trading a NEO utility token GAS decided to believe in it more than native coin NEO".
In the long term, exactly the opposite is true.

Bitcoin_Arena

copper member

Activity: 2114

Merit: 1813

฿itcoin for all, All for ฿itcoin.

Quote from: Tytanowy Janusz on November 11, 2023, 04:32:32 AM

Look at market cap not price. Gas marketcap = $130 million while NEO marketcap = $900 million so gas is cheaper than NEO just like it was before. The price thing that you noticed is because gas supply that changed over years.

Market cap when it comes to crypto doesn't mean much because of the ever-changing circulating supplies. To show that things have been very different since their last all-time highs in 2018

NEOs Market cap was at $2Billion, Gas' marketcap was at $800M.

fzkto

sr. member

Activity: 2282

Merit: 439

Cashback 15%

I also noticed that the price of gas has not increased proportionally to neo. Although it seems to me that if the token grows, the main coin should grow even more. To be honest, it was strange for me too. Maybe later it will be time for neo, although I think it is a dead project.

MAAManda

hero member

Activity: 1540

Merit: 725

Quote from: Bitcoin_Arena on November 11, 2023, 03:23:09 AM

Why is GAS pumping hard and NEO so much? Have the people trading a NEO utility token GAS decided to believe in it more than native coin NEO?

The first pump incident occurred at Upbit, which then spread to other markets such as Binance. I think this is just hype, we also need to remember that on November 13th Upbit will be home to a major conference focused on the NEO network. Maybe at the conference later, we will hear about the updates that will occur in the NEO network.

This article might answer your question: https://captainaltcoin.com/why-is-gas-price-up-here-are-reasons-behind-the-50-pump/

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Bitcoin_Arena on November 11, 2023, 03:23:09 AM

Back in the day when NEO was still a hot item and was also at one point dubbed the Ethereum killer, the Price of NEO was higher than that of its utility token NEO gas. To put this into context. On 15th January 2018, NEO recorded an all-time high of $198 while NEO GAS recorded an all-time high of $92 on the same day

NEO price was 3 times over that of NEO GAS and yet today GAS is trading at the same price with NEO and even sometimes higher than it.

Why is GAS pumping hard and NEO so much? Have the people trading a NEO utility token GAS decided to believe in it more than native coin NEO?

This site have good article related to recent price spike of Gas token https://coinpedia.org/price-analysis/here-is-why-gas-token-price-spikes-by-300-in-one-week/

Read it there for sure you can find it more interesting when you read up the article they have written. Also Its current price growth create more hype so expect that there would be more price action for that token since many of its holders are been so hype with current happening on Gas token.

This is interesting and wonder how far it will go knowing that altcoins would provably experience a bull run so maybe we can see more pumps from Gas token.

cryptoaddictchie

legendary

Activity: 2100

Merit: 1321

Fully Regulated Crypto Casino

I think there are some group of traders that selectedly pumping tokens on Binance and some traders follow the green candles. I believed its a pump and dump hame on the whales without much FA on project then whats the hot deal right? Also the marketcap of gas is sweeter if youll invest on one of them clearly we know which one has higher upside.

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Look at market cap not price. Gas marketcap = $130 million while NEO marketcap = $900 million so gas is cheaper than NEO just like it was before. The price thing that you noticed is because gas supply that changed over years.

And no one believes in gas nor neo. Both are dead for like 4 years. It's just pump and dump. Nothing more. And it's easier to manipulate smaller asset.

Bitcoin_Arena

copper member

Activity: 2114

Merit: 1813

฿itcoin for all, All for ฿itcoin.

Back in the day when NEO was still a hot item and was also at one point dubbed the Ethereum killer, the Price of NEO was higher than that of its utility token NEO gas. To put this into context. On 15th January 2018, NEO recorded an all-time high of $198 while NEO GAS recorded an all-time high of $92 on the same day

NEO price was 3 times over that of NEO GAS and yet today GAS is trading at the same price with NEO and even sometimes higher than it.

Why is GAS pumping hard and NEO so much? Have the people trading a NEO utility token GAS decided to believe in it more than native coin NEO?

Topic: Why has GAS token been pumping harder yet the Native coin NEO isn't? (Read 81 times)