Neo GAS (GAS) Token Price Skyrockets, Has Tripled The Investors’ Money in a Month
/ Neo GAS Token (GAS) soars 330% in a month, tripling investor wealth. Discover the factors behind this explosive growth.
By Nilesh Hembade.
Date: 04 Nov 2023, 10:45 AM IST
Neo, the Open Network for the Smart Economy, is stealing the limelight in the cryptocurrency world with its utility token, GAS. Over the past 30 days, the GAS token price has witnessed a meteoric rise, surging by an astonishing +330%. This surge has not only captured the attention of the crypto community but has also tripled the investments of GAS token holders in the last month.
As of the time of writing, GAS is trading at an impressive $10.06 per token, boasting a substantial market capitalization of $101 million. The significant gains and the coin’s rising market capitalization have led to increased interest and excitement among investors and enthusiasts alike.
Know Why Gas Token is Surging?
1. Neo Announces a New Chapter
The primary catalyst behind GAS’s price surge is Neo’s recent announcement. The blockchain platform revealed its plans to create a sidechain that is inherently resistant to Miner Extractable Value (MEV) attacks and fully compatible with the Ethereum Virtual Machine (EVM). This innovative sidechain will inherit the economic model and Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism from Neo N3. It is currently under active development and is anticipated to be released by the end of 2023.
2. BitMex Exchange Lists GAS/USDT on October 30th
Another significant contributor to the remarkable surge in GAS’s price is its listing on the BitMex Exchange. On October 30th, BitMex added GAS/USDT to its trading pairs, introducing a perpetual contract option with a 10x leverage. This move expanded the accessibility and liquidity of GAS, attracting a broader range of traders to the cryptocurrency.
🚀One for the @Neo_Blockchain community 🚀
— BitMEX (@BitMEX) October 30, 2023
The $GAS perp is now live on BitMEX, margined in $USDT with up to 10x leverage.
âž•Up to $5,000 in BMEX Tokens available for new users…
Trade the new listing👇https://t.co/yCVWtLMlE0 pic.twitter.com/6M6fiAOx5G
In conclusion, Neo’s GAS token has experienced an extraordinary surge in value over the past month, driven by innovative developments within the Neo ecosystem and its listing on BitMex with leverage options.
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