CEX Unveil First Listings of 2020 – NEO and GAS

CEX Unveil First Listings of 2020 – NEO and GAS

CEX have announced they are poised to list two new tokens on their platform, NEO and GAS, which will be the first listings of 2020 for the platform.

 While there will be two new tokens added for trading over the course of this week, both tokens are in fact part of the same blockchain network – the NEO network. Although two tokens play different roles in helping it function which we will discuss further on. NEO itself is known by some as the “Chinese Ethereum” due to it being a community-driven open-source, non-commercial blockchain and so is considered the Chinese competitor to Ethereum.

How Does NEO Work?

However, NEO is different most notably unique because of the fact it cooperates closely and actively with the Chinese government. Of course, as most people will be aware of by now, China as a nation are actively trying to move towards a more digital asset-driven economy, aka, a distributed smart economy. Via which they aim to create an automated digital asset management system which uses smart contracts.

This goal is being achieved with the help of the NEO blockchain, which has both these areas, alongside law protected digital identity, at the core of their business model. This makes NEO a viable candidate as the go-to candidate for the Chinese government and their digital asset plans.

The NEO blockchain itself is backed by the two tokens that are set to be listed on CEX this week, NEO and GAS. Each of which has a different function on the network, with NEO operating what is known as a “dual-token system”.

The namesake token of the network, NEO, represents ownership of the blockchain. While GAS has the purpose of running apps, executing contracts, and paying dividends to NEO token holders. The two tokens work in unison to ensure the harmonious functionality of NEO as a blockchain network.

Why Invest in These Listings?

Currently, the NEO network brags, as per CEX figures, 2 million addresses, 500,000+ community members, 100+ dApps, and 300+ technical contributors. This high activity of the project is hence why both these tokens are in such high demand. This is reflected in both tokens’ market performance as measured by Coinmarketcap.

NEO is currently ranked at 19th by the crypto ranking website and boasts a market cap of over $700 million and a trading volume of more than
$400 million. This makes it one of the most traded cryptocurrencies in the world. GAS, on the other hand, offers a significantly lower $10 million market cap and a daily trade volume of around $2 million. Although, of course, both tokens are two sides of the same coin and the success of one will be reflected in the other, as well as the NEO blockchain as a whole.

An added benefit of investing in these tokens is that you are likely to suffer fewer market fluctuations or less unpredictability. This is owed to the fact that their parent blockchain is supported by the government of China – the second-largest economy in the world. This limits failure and gives you similar reliability to that of dollar-backed stablecoins – except, of course, without the pegging.

Trading NEO and GAS at CEX

Those wishing to get involved in trading either of these tokens can expect a gradual roll out from the platform which will be conducted over several steps.

These steps will begin with deposits and withdrawals being enabled tomorrow (14th January). This will be followed by NEO/USD and GAS/USD trading becoming available. Later in January, further pairs will be added in the form of NEO/EUR and GAS/EUR on January 17th, before NEO/GBP and GAS/GBP are added on January 21st. The platform will also allow for instant purchase of both these tokens via the use of Visa and Mastercard.

The upshot of all this being that you can begin trading both tokens tomorrow, with more trading pairs scheduled for later this month. If you want to be ready to trade these tokens, head over to CEX now and get yourself set-up on their platform.

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News


Binance Suspends SEPA Inward Payments Until Further Notice

Binance Suspends SEPA Inward Payments Until Further Notice Binance has just announced that it has temporarily stopped all incoming SEPA payments. As a result, users will no longer be able to deposit euros using the primary European payments network. The world’s largest cryptocurrency exchange did not provide any specific information regarding the reason behind this […]

12 July, 2021

Why are Crypto Holders Worried of Declaring Their Ownership?

Cryptocurrencies have been popularly regarded as the future of finance globally. Investing in virtual coins has become a lot easier than it was a few years ago with the evolving crypto industry. Over the last few years, Bitcoin has caused a lot of buzz in the market. It has established itself as the de facto […]

8 July, 2021

Bitcoin On The Rebound Following Elon Musk’s Latest Announcement

The price of the world’s largest cryptocurrency is rising again following the latest comments from Elon Musk. Bitcoin’s price has climbed and stayed above $40,000 on Monday 14th June, following an announcement by Musk that Tesla will, once again, start accepting BTC payments. The latest comments have proven once more what a powerful influence the […]

16 June, 2021

Bitcoin Is Now Legal Tender In El Salvador

The world largest cryptocurrency has become a legal currency in El Salvador. Following a congressional vote held on Tuesday, a significant majority agreed to adopt Bitcoin and use it alongside the country’s other currency, the US dollar. In the words of El Salvador’s President, this decision has made “history”. Within the next 90 days, all […]

10 June, 2021

Google Updates Its Advertising Policy To Allow Crypto Ads

Global search engine giant, Google, has announced that it will be accepting cryptocurrency advertisements targeting customers in the US. This change to the tech giant’s financial products and services ads policy is expected to be made at the start of August 2021. As a result, operators of cryptocurrency exchanges and wallets will be able to […]

8 June, 2021

Coinbase Stock Loses Over 25% Since April IPO

It was hailed as one of the greatest moments in cryptocurrency history. The Coinbase IPO was seen as the tipping point of the sector, a moment when cryptocurrencies will finally find their well-deserved place within the financial industry. Interest was high, and when Coinbase (COIN) began trading on the Nasdaq on April 14, 2021, the […]

26 May, 2021
Bitcoin,Cryptocurrency,Social Media

Bitcoin Drops by Over 30% to $30,000 After Another of Elon Musk’s Tweets

Tesla’s CEO and among the top three richest people in the world, Elon Musk, has yet again sent Bitcoin and other altcoins on a wild ride that saw the markets bleed after massive sell-offs. In a flurry of tweets that begun on Sunday, Elon seems to have implied that Tesla would liquidate its Bitcoin holdings. […]

20 May, 2021

Tune In To The 4th Edition of the AIBC Pitch

On the 25th of May 2021, Dubai will once again play host to the much-anticipated Draper-Aladdin AIBC Startup Pitch. 100 companies operating in the exciting fields of AI, Blockchain, Quantum Tech, FinTech, Big Data and IoT will be showcasing their ideas to investors and other stakeholders. Up to $500,000 can be won by any single […]

16 May, 2021