Cardano vs. NEO: Market overview

Both Cardano (ADA) and NEO (NEO) had a dreadful 24h closing on 8th March. Both coins slid in price and consequently, their market caps shrank by several million dollars. Perhaps, apart from the prices and the general market dink for not only these two, but several other top coins, it is the fact that NEO is now ahead of Cardano in market capitalization.

NEO is now ranked 6th on coinmarketcap.com, with a market cap of $5.3 billion against the 7th ranked Cardano, whose market cap is now $4.9 billion (figures correct at the time of writing).

It is interesting to note that Cardano actually had its 24h trading volume increase, even though that did little to improve the market cap as its price was kept falling sharply on the hour-to-hour chart.

NEO, on the other hand, can’t seem to shake off the controversy surrounding the supposed FUD that surfaced last week Sunday. However, its drop was marginally lower than that of Cardano which dropped by -21%. NEO also had higher trading volumes at $126 million compared to ADAs $44million (all at the time of writing).

Below are the individual price charts for Cardano and NEO.

Neo price charts

NEO has had a rough 24 hours as its price continued to tank, falling below the $100 mark for the first time this week. Today NEO traded at $82.71 against the US dollar, which was a drop of 18.124% over the same period. The coin has had a 24h low of $81.11 and a 24h high of $101.54. NEO’s market cap is $5.3 billion against a daily trading volume of $126,547,331.

Below is a 7-day price chart for NEO. Notice the dip since March 3, 2018, when the consensus controversy surfaced. Although the CEO Da Hongfei came out with a statement to reassure the investors, NEO prices have tanked from a high of $150 to the current dalliance at between $81 and $101.

Cardano (ADA) price charts

At the time of writing, Cardano prices had also taken a hit as the coin dropped -21.33% to trade at $0.1901 at 11:00 GMT. NEO has so far had a 24h low of $0.1873 and a 24h high of $0.243. With its market cap at $4.9 billion, ADA dropped to 7th position as it was overtaken by NEO. The cryptocurrency has a daily trading volume of $44,783,296 against a circulating supply of 25.9 billion ADA coins.

Below is the Cardano price chart from March 3 to March 9, 2018. Notice that ADA too has had a downward trend over the 7-day period. Between 6th and 9th, ADA has dropped from a high of $0.35 to today’s low of $0.18.

Exchange metrics comparison table between Cardano (ADA) and NEO (NEO)

Metric Cardano NEO Complete metric score 71% 73% Major exchange trading activity 67% 75% Source code repository activity 87% 80% Social media and discussion board 60% 69%

Cardano vs. NEO: Which one would be a better investment?

Cardano 1-year and 5-year price prediction

Cardano is a unique cryptocurrency because it was built from scratch. The use of Haskell language and the Ouroboros protocol gives it an edge in security over NEO. The one thing that could be against Cardano (ADA) is the slow rollout of a working product. However, that seems to be out of the question now with the launch of two ICOs on its platform i.e. Traxia (TMT) and Sp8de (SPX). The only question now is whether it will go all the way. ADA is expected to grow by +2787.57% in a 5-year period. If you invest $100 now, how much will you earn by 2023? Please handle the math for me.

NEO 1-year and 5-year price prediction

NEO is a very interesting project because of its similarity to Ethereum. However, by allowing their network to utilize simple to code languages like Java, NEO places itself in prime position for wider adoption. The other thing is the impact its Chinese connection could have, especially if it gets support from the huge market. Based on forecasts, NEO will grow by +1547 by 2023. So, if you invest, expect high ROI.

Bottom line

Statistics show that NEO (NEO) has edged this one and is likely to be many people’s 2018 watch list. However, from an investors’ point of view, it seems that both coins have a great potential for huge ROI returns in the future. I believe most of us have Ethereum as one of the pillars of our portfolios. That leaves a choice between the “Ethereum of China” and the “Ethereum of Japan”. Which one would you add to your portfolio if you haven’t done so yet?