Airdropping Becomes Popular Method for Developers to Promote Cryptocurrencies

Crypto developers are increasingly using a novel method to market coins and encourage mass crypto adoption: “airdropping” cryptocurrencies into people’s wallets. Airdropping is done by developers of newly minted cryptocurrencies who decide to give these new coins — for free — to holders of an existing cryptocurrencies.

Just a few weeks ago holders of NEO were selected to receive another crypto coin called Ontology. Others, including the developers behind Everipedia and a smart-contract system called United Bitcoin, are also planning airdrops.

In order to implement an airdrop, the maker of a new coin can offer all of the holders of one cryptocurrency, like NEO, a chance to receive the up-and-coming token for free. The coin isn’t automatically distributed (usually), but users can opt in to participate in the airdrop.

“In certain ways people are getting free lottery tickets,” said Matthew Roszak, chairman of the blockchain advocacy group Chamber of Digital Commerce. “There will be a tsunami of airdrops this year,” he adds.

Given the volatility of many cryptocurrencies, and the fact that developers are, of course, out to make a profit, readers may by scratching their heads: what can airdropping actually bring to the table? To set the record straight, let’s have a look at some of the benefits airdrops can provide. 


According to Rosza, digital coin developers are using the airdrop method to promote new projects instead of “spending money on billboards and T-shirts.” The aforementioned Ontology airdrop said it would distribute 20 million coins — or about 10% of total tokens — to NEO holders (both coins are distributed by China-based OnChain). For every NEO coin, investors are set to receive 0.2 Ontology tokens.

“We’re seeing it through digital token sales and smaller start-ups that are trying to get traction right away,” said Shone Anstey, executive chairman, president and co-founder of Blockchain Intelligence Group. The overall trend of being able to get new digital coins for free through public blockchains “shows the great utility of the public networks,” Anstey added.

Mass Adoption

“I think we’ll see airdrops as an increasingly sophisticated approach to customer acquisition,” said Spencer Bogart, partner at San Francisco-based Blockchain Capital. “Slipping money into someone’s pocket is a powerful way to get their attention,” Bogart said, adding that the airdrop process could spur mass adoption of a new cryptocurrency better than an initial coin offering (ICO).

Although ICOs have been able to catapult many start-ups forward, they are not always successful: about half of the ICOs issued in 2017 have failed already.

“When you give something to someone for free they will pay a little more attention than if you ask them to sign up,” said Erik Voorhees, CEO of ShapeShift, a platform for trading digital tokens. “Imagine if Walmart could put some kind of asset into everyone’s bank account in the U.S.”


On the other hand, some analysts are skeptical that the airdrop trend helps boost adoption and public awareness. According to William Mougayar, blockchain investor and author of The Business Blockchain, airdrops are being misused and abused, to the point where they are starting to lose their intended effect:

“The more scammy and over-promoted ICOs will tend to send airdrops liberally without a proper user opt-in authorization,” Mougayar said. “Sadly, airdrops are the new spam mail or coupons junk mail. They are hit and miss on benefits.”

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FOMO Moments

The markets are looking a little healthier during this morning’s Asian trading session. Bitcoin has rallied by 6.3% back over $10k and the altcoins have been lifted with it. Most of them are in the green this morning and as usual one is doing better than the rest in the top 25. The coin of the moment is Neo.

Coinmarketcap has Neo trading at 17% higher than this time yesterday. It is a fraction over $140 from $119 this time yesterday which is quite a significant price jump. Looking at the seven day chart Neo has rebounded back to its price this time a week ago, and over a month it is up marginally but still a way to go to reach its monthly high of $168 on January 30.

Often referred to as the Chinese Ethereum, Neo is a smart economy based dApp platform. The team is very active with developer conferences and community meetups held across the world every few weeks. Compared to other altcoins, Neo has been very stable and pretty much trending upwards for the past three months. The launch of the Neon Exchange ICO next month could further boost the prices of Neo and its sibling Gas which is also up 13.4%.

Neo is being adopted on more exchanges across the world and has moved up to seventh position in the market cap charts, surpassing Cardano and Stellar which have both been on a downward slide for the past six weeks. Neo’s market cap is just over $9 billion, $441 million has been traded in the past 24 hours, mostly in Asia on Upbit and Binance.

Other altcoins showing double figure gains during the Asian trading session this morning are Qtum and Nano.

More on Neo can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals. 

FOMO Moments

The Asian holiday weekend is upon us and markets are looking good. Most digital assets are in the green and Bitcoin is holding steady at over $10k again. Altcoins are once again being pulled up by their big brother and, as expected, one is standing out from the crowd.

According to Coinmarketcap NEO is the only altcoin trading in double digit gains during this morning’s Asian session. Up to $140 from $121 this time yesterday, Neo is having a solid run and is 13% higher. All other cryptocurrencies are marginally up on yesterday’s levels. Neo has been one of the few altcoins that has shown a lot of resilience during the big dip on February 6. It dropped to a low of $67 and has since made gains of over 100% over the past ten days. Neo’s all-time high came in mid-January when it reached $195.


Often referred to as the Chinese Ethereum, Neo has made steady progress over the past three months. It does not have the wild fluctuations that other altcoins experience and is one of the more stable cryptocurrencies. Neo is a platform, similar to Ethereum, which enables developers to build decentralized applications on. It is being used for a number of ICOs and new projects in the region.

The community is very active and developer conferences are held often across the world. The launch of a new decentralized NEO and GAS powered exchange called Neon is likely to boost prices further however the project is still in pre-ICO stage. As with most cryptos, Neo is traded predominantly in South Korea which has over 30% of the global volume. Market capacity currently sits at $8.9 billion and Neo is ranked at number 7. Over $264 million has been traded in the past 24 hours.

Other altcoins enjoying solid gains during the Asian session are Monero, Litecoin, OmiseGO and Verge.

More on Neo can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals. 

FOMO Moments

A predominantly red picture is being painted again today during the Asian trading session. Only one altcoin in the market cap top ten is in the green and it is joined by only two others in the top 25. We know things move fast in crypto land and the morning’s leader of the moment is NEO.

According to Coinmarketcap NEO is up 5.4% over the past 24 hours. It has shown a slow but steady increase over the past day while most of its siblings have lost ground. Zooming out to the weekly chart we can see that NEO has made strong gains of over 40% on the week. Starting out this time last week trading at $113 it has climbed to an impressive weekly high of $170 before falling back a little to $166 where it currently trades.


One thing to note is that while a lot of other altcoins, and especially Bitcoin, have had major losses NEO is still near to its all-time high of $190 just after New Year. NEO has often been referred to as the Chinese Ethereum, it is an open network for smart economy. It is continually growing in adoption for new dApps and ICO projects as developers turn to alternatives to Ethereum.

NEO is a low supply coin with 100 million total and 65 million circulating. South Korean trade is currently driving momentum with the Upbit exchange taking the lion’s share at just under 40%. Binance is the second most popular exchange for NEO with just under 20% of the total.

More info on Neo can be found here:

Happy Trading.

FOMO Moments is a new section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals. 

Of all the cryptocurrencies, NEO remains resilient and seem to rebuff all attempts for lower lows.

We cannot say the same of NEM, IOTA or even LTC because as it is, the candlestick pattern looks like a minor bear break out and resumption of sell pressure.

On the other hand, if Lumens continue stalling below the minor resistance line then bears will continue to rule.

Let’s dissect these charts:


NEM buyers
XEMUSD 4HR Chart for January 20, 2018

Besides the influence of $1.14, NEM price action is subtly moving within a descending minor wedge with obvious resistance at the middle BB.

Now here is the thing, any bear close below $0.90 and we can as well forget about going long as sellers will be in charge as they complete the bear break out pattern right from the support line.

If not, and prices close above the upper limit of the wedge and $1.14, we load our longs. That’s my game plan for today.


Lumens sellers
XLMUSD 4HR Chart for January 20, 2018

Nothing significant has happened after what appeared to be a promising close above middle BB. In fact XLM bears are back again, retesting the 20 period MA and probably eyeing $0.43.

However, despite this slight dip, XLM price action is still confined within the two break-out candlesticks-from yesterday’s close above middle BB. Therefore, because of this, the upper and lower limits are our minor support and resistance.

Of course, considering the realignment of candlesticks, support is stronger and any bounce from that could as well lead to close above $0.56 and perhaps the minor resistance trend line.

If not, sellers are in charge and this week candlestick might confirm last week’s bear candlestick and signal strong bears.


IOTUSD 4HR Chart for January 19, 2018

It is indeed factors to deal with time and price as evident in IOTA. Look at how $3 rebuffed buy pressure? The stream of lower lows breaking below the middle BB could as well push prices towards $2 as normal bear business resume.

In my honest opinion, today may determine the short term trend especially if bears confirm this bear trend. I really think the gap between $2.4 and $1.1 is not wide.

Bear pressure could test the later before resuming trend as the 2nd phase of this bear break out take shape.


NEO buyers
NEOUSD 4HR Chart for January 20, 2018

From my own deduction, I really think NEO has some steel in it. Like most alt coins, it took a beating on Monday but the recovery has been stellar and here is the thing with it.

As long as prices remain above $130 then we can be comfortable and at least expect some follow through with clearly defined bull targets at $220.

Today, my analysis will be contingent of price action reaction at $130. Any hints of buy pressure and I would recommend buy entries with stops below 61.8% Fibonacci retracement level as highlighted from the chart.


LTC sellers and technical analysis
LTCUSD 4HR Chart for January 20, 2018

Even after $80 swings a day, none can be said of today’s LTC price action other than tepid and nerve wrecking from a sellers perspective.

Yes, you see our anticipation was for buyers to blast through $210 as they march back to range and normalcy but instead the move was south.

If not for minor support by the 20 period MA, LTC prices could probably slide back to $150. So, are we trading a bear break out or are prices pulling back to normal? That’s what should be answered today.

All charts courtesy of Trading View

There will always be winners and losers in the crypto race, and while most altcoins are still flying high from levels a couple of months ago, some tend to stand out in the crowd. NEO is one of those coins that has remained bullish when the bears have influenced the rest. Last week saw a huge sell off on the back of FUD and fake news out of South Korea. There was no crypto ban in the Southeast Asian nation despite some leading news agencies reporting so. What actually transpired was a ban on anonymous trading accounts to prevent illegal activities such as money laundering.

Altcoins, which are traded heavily in South Korea, fell across the board last week however NEO remained strong and continued upwards. The Chinese Ethereum as it is often called reached a new record high just a couple of hours ago during the Asian trading session. According to Coinmarketcap, which no longer includes Korean exchanges, it climbed to $176, up over 90% from the $92 it traded for at the start of last week.

NEO has weathered the digital storm and remained in a steady uptrend for the past month; it is often seen as being more stable than many of the other altcoins which are frequently pumped and dumped. NEO is traded primarily on Binance with almost 40% share, followed by Bittrex taking around 12%. Total market capacity sits at just over $10 billion at the time of writing with 24 hour volume at $720 million according to Coinmarketcap.

NEO DevCon
While most new projects still use Ethereum as their primary platform NEO is gaining momentum, especially in China where it already has a number of partners. A developer conference has been planned for the end of January in San Francisco where, according to their website, the community plans to come together;

“With multiple sessions and workshops NEO DevCon is bringing the NEO community together for a 2-day conference full of innovative ideas and projects, featuring many top speakers from the Blockchain space.”

Key speakers will include founder Da Hongfei. Further events have recently taken place in Amsterdam and Shanghai where developers and blockchain experts have lectured on the merits of the NEO Smart Economy. At the time of writing NEO was trading at $156, up over 12% on the day.

No one can deny cryptocurrency is about much more than just Bitcoin. That is a positive development, as Bitcoin is not perfect. Nor does it have all of the answers to our problems either. It is a good currency at times, but right now, it’s not in the best of shapes. As a result, mainstream companies are slowly showing an interest in other currencies. KPN, for example, has decided to host a dedicated NEO consensus node in their data center. An interesting decision by the Dutch telco.

There is an interesting future ahead for all currencies that are not Bitcoin. Especially those which offer something entirely different from established currencies. NEO is similar to Ethereum in some ways, yet completely different in other aspects. So far, this altcoin has seen great success throughout 2017. It seems that powerful trend will continue into early 2018. Especially when they have some big announcements to make in the coming months.

KPN Sees Merit in NEO and the Smart Economy

One of those announcements has to do with KPN. Most people know this company because it’s one of the largest Dutch telecommunications companies to date. Surprisingly, KPN decided to hop on the NEO bandwagon. More specifically, the company will host an NEO consensus node within their data center. That in itself is a rather surprising development. Then again, the giant has shown an interest in NEO and the smart economy before. It seems they are only now putting their plans into action, which can have some interesting consequences.

One could argue this news has no major impact. At the same time, the telco giant purposefully chose this altcoin over all other cryptocurrencies on the market. They are seemingly not interested in Bitcoin, Ethereum, Litecoin or XR. Instead, they want to support NEO and become a part of the smart economy. It is an interesting development which will have major consequences. What those consequences might be, is anybody’s guess right now. It is a massive notch in the belt for NEO, though.

For now, it doesn’t seem as if this should aspect the NEO price all that much. Having KPN on board is significant, but ultimately just a first step. We do know the project wants to further decentralize their consensus node mechanism. This may very well be a big step toward achieving that goal in the future. At the same time, we might see other technology companies show a big interest in other cryptocurrency nodes or similar systems. Only time will tell what the future holds. For now, things are looking good for NEO, but this is not an earth-shattering development either.

Header image courtesy of Shutterstock

It’s always good to see existing cryptocurrency services support new currencies. In the case of ShapeShift, they have been adding quite a few coins throughout 2017. It seems this trend will carry over into 2018, as the first new currency has been added already. NEO, one of the top 15 cryptocurrencies, is now available for trading on this platform.

Supporting different currencies is the bread and butter of ShapeShift. This service allows users to convert between different currencies without creating an account. Although it can’t be used for major transactions in one go, it has a certain appeal. Especially for users who don’t want to rely on regular exchanges, such a platform can make a big difference. After all, it is convenient, has low fees, and transactions are completed very quickly. Adding NEO to the list of supported currencies makes a lot of sense.

NEO Trading is Live on ShapeShift

As a result of this move, NEO can now be traded against all other supported currencies. This will give the popular altcoin a lot of new trading markets waiting to be explored in the future. Right now, trading NEO is somewhat limited to Bitcoin and Ethereum across most platforms. With ShapeShift, about 30 different combinations are added to this list as we speak. It is always good to have more options at one’s disposal, to say the very least.

As is always the case, it remains to be seen if this will generate more interest in NEO. While it is a popular altcoin, it’s not even close to rivaling Ethereum. That seems a bit odd, considering this altcoin refers to itself as the Ethereum of China. It will be interesting to see how the future plays out for this currency. Its value has gone up steadily throughout 2017 and that trend is still in place during the first week of the new year.

ShapeShift has quickly become one of the most popular cryptocurrency conversion services in the world. Their service is easy to use and a lot of currencies are supported as we speak. The addition of NEO will be beneficial to this company as well, in the long run. For now, it remains to be seen if there is sufficient demand to warrant this addition. Only time will tell if that is effectively the case.

Most of this week’s crypto news has been dominated by Litecoin and Ethereum. Both have broken all-time highs and both have taken some of the limelight from big daddy Bitcoin which has ranged between $16,000 and $17,400 over the past few days. LTC has corrected from a previous top of $338 on December 12 and Ethereum is still hitting new tops surpassing $750 a few hours ago.

Other altcoins have been up and down but one that has made big positive moves in the past day or two is NEO. Often referred to as the Chinese Ethereum, NEO has been trading pretty flat over the past few months. Its last flurry of activity was in mid-August when it was re-branded from its previous incarnation, Antshares. It reached a high of $48 and has been falling back ever since, ranging in a channel between around $25 and $35 for most of September and October.

The Chinese dragon awoke yesterday and broke through key resistance areas around $40. From there on it headed up past $50 for the first time before pulling back slightly. NEO has jumped around 48% in just over 48 hours.

NEO is traded mostly on Bittrex which has almost 30% of the total; second exchange is Binance with just over 25% followed by Bitfinex at 21%. The total volume in the past 24 hours according to was $433 million and market cap currently stands at $3.2 billion.

News of a partnership between NEO, Regtech leader Coinfirm, and the specialist venture platform QRC may have initiated the push. The trio will be working together to nurture a compliant blockchain ‘smart economy’ with a particular focus in Asia. This week’s collaboration was initiated when Coinfirm CEO and Co-Founder Pawel Kuskowski and QRC CEO Adam Vaziri joined the NEO team at NEO’s blockchain competition kickoff event in Tokyo according to PR Newswire.

NEO, Coinfirm and QRC have teamed up to address the enduring insufficiency in blockchain regulation which encumbers every country with a crypto currency exchange market. Tackling this obstruction could open up the entire crypto ecosystem to the mass market, and support the trend for ICO’s which have already been banned in China and South Korea.

Similar to Ethereum, NEO is both a crypto currency and a blockchain platform for decentralized apps. Western speculators have been drawn to its Chinese origin for the prospect of huge growth. Any news that the Chinese government will ease restrictions and officially approve the NEO platform is eagerly awaited. Until then NEO ‘hodlers’ can enjoy a rare spurt up the charts.

Bitcoin continues to dominate the news as prices nudged over $14,000 in Asian trading this morning, up almost $2,000 in 24 hours. The surge is likely to be off the back of news that the big boys are starting to entertain cryptocurrencies. JP Morgan switching tack and backing Bitcoin as the new gold and Nasdaq recently joining the fray has done wonders for BTC trading. The imminent launch of CBOE trading on December 10 and CME Bitcoin futures shortly after has also boosted price and market sentiment. In addition to this are a number of hard forks and the promise of the free equivalent coin that usually comes with them.

Getting lost among the hype are the altcoins, many of which remain undervalued. One such crypto asset that has gained over 20,000% this year alone is NEO, often referred to as Chinese Ethereum. NEO was rebranded from its previous incarnation, Antshares, back in August when price rocketed from around $8 up to almost $50 – in April it was still priced at $0.20. Since China’s ICO ban NEO fell slowly back to earth as most pump and dumps do and wallowed between $20 and $27 from September to November.

Many of the altcoins have enjoyed price spurts this week as the daddy Bitcoin has pulled them all up with it. Most can only be traded for in BTC on various exchanges that do not accept fiat which explains the often mirrored chart patterns. NEO jumped to as high as $40 but has now dropped back again to around $34 and is still falling. According to, it is the 14th largest cryptocurrency with a market capacity of $2.2 billion.

Da Hongfei, CEO of Onchain, and the founder of NEO isn’t worried. He has acknowledged that Bitcoin itself may be a bubble but says it is completely natural for emerging technologies and industries. The tech entrepreneur has big plans for NEO, many of which involve branching out from China. His vision of a ‘smart economy’ requires a platform that is already capable of integration with current systems and technology, which NEO apparently is. It is for this reason and its potential in the powerhouse that is the Chinese economy and beyond that crypto, analysts say that the coin is still undervalued.

With most of the current decentralized apps (dApps) being hosted on the Ethereum network, there is a competitive market for them which NEO aims to be a part of. A number of ICOs based on the NEO network are in the pipeline though it remains to be seen if the Chinese government will intervene again. There is an emerging market for dApps on both Ethereum and NEO and these are still very early days.