NEO was the worst performing cryptocurrency over the course of August out of the world’s 25 top cryptocurrencies by market valuation.
NEO didn’t perform well this month and got a tag of worst performer title in a month of August.
NEO’s dismal performance in August has likely strengthened the already strong bear grip on its market.
Down 39.6 percent month-on-month in August, it is the biggest loser among the top 25 cryptocurrencies by market capitalization, according to CoinMarketCap
Throughout the month, the world’s 14th largest cryptocurrency has moved in tandem with the broader market, which took a beating in August due to SEC’s rejection of multiple bitcoin exchange-traded funds (ETFs).
Notably, the total market capitalization of all cryptocurrencies was printing more than $100 billion loss just two weeks into the month as the metric sank below $200 billion for the first time in over eight months. At the same time, NEO was reporting monthly lows below $14.50.
However, the broader market made a considerable rebound in the final two weeks of August, regaining nearly $40 billion of the lost value in total market capitalization.
Hence, NEO is the monthly loser which rebounds at 40 %.