The price of NEO climbed by 6.2% over the last 24 hours to US$25.13 on Thursday morning Asia time, following China-based Neo’s Tuesday announcement of its Jiuquan Chain’s integration to China’s state-backed blockchain network.
See related article: BSN to integrate Neo’s chain to bolster NFT issuance in China
Fast facts
- NEO hit a daily high of US$25.88 on Thursday from US$20.87 on Tuesday, recovering from a low of US$16.25 on Jan. 24, according to CoinGecko.
- Jiuquan Chain, powered by China-based Neo, will run as one of the 10 BSN open permissioned blockchains, as part of the BSN Decentralized Digital Certificates infrastructure, a non-crypto NFT network.
- China has not banned NFTs as it did with crypto, but warnings directing from state-owned media organizations have diverted local businesses from the term “NFTs” to “digital collectibles.”
- Neo’s token price bump since its jump into the local “digital collectibles” market comes as cryptocurrencies categorized under NFT coins dropped by 1% over the past 24 hours.
See related article: China’s BSN names eight partners for its non-crypto NFT platform