Neo (NEO)
Chinese Ethereum from 2017 with dual-token model (NEO+GAS); the 'smart economy' never materialized
Ranked 236th of 251 rated tokens. Scoring pass 11 Jun 2026.
What the numbers say
NEO scores 68 of 250 across the 25-variable framework, which places it 236th of 251 rated tokens and inside the bottom 10% of the set. The framework verdict is PASS.
The score rests on Holder Concentration 4/10, 58th of 251, Supply Inflation 5/10, 61st of 251, Exchange Depth 5/10, 73rd of 251 and Treasury Runway 5/10, 74th of 251.
Against the same universe, NEO sits in the bottom third on Market Share 1/10, 245th of 251, Active Users 1/10, 243rd of 251, Network Growth 1/10, 242nd of 251 and Regulatory Safety 3/10, 237th of 251. These are the variables that would have to move for the verdict to change.
Only 70.5% of NEO's total supply is in circulation, so 1.42x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 29.5% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
NEO trades 99.07% below its all-time high of $198.38. Recovering that level is a 107.5x move, not a 99.07% one, which is the arithmetic most drawdown charts hide.
The framework score lost 5 points against the previous pass (73 to 68). Revisions of this size follow a change in the underlying variables, not a change in price.
$5.0M sits in the protocol. Each dollar of value locked carries 26.14 dollars of token market cap.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 2 | 166th of 251 | |
| Revenue Trend | 1 | 231st of 251 | |
| P/S Multiple | 2 | 218th of 251 | |
| Real Staking Yield | 4 | 82nd of 251 |
Supply
| Supply Inflation | 5 | 61st of 251 | |
| Vesting Schedule | 5 | 100th of 251 | |
| Circulating / FDV Ratio | 5 | 135th of 251 | |
| Buyback and Burn | 2 | 114th of 251 |
Ownership
| Smart Money Flows | 2 | 217th of 251 | |
| Insider Selling | 3 | 201st of 251 | |
| Holder Concentration | 4 | 58th of 251 |
Traction
| TVL Trend | 1 | 229th of 251 | |
| Active Users | 1 | 243rd of 251 | |
| Developer Activity | 3 | 208th of 251 | |
| Network Growth | 1 | 242nd of 251 |
Position
| Market Share | 1 | 245th of 251 | |
| Competitive Moat | 2 | 223rd of 251 | |
| Institutional Adoption | 2 | 192nd of 251 | |
| Exchange Depth | 5 | 73rd of 251 | |
| Social Mindshare | 2 | 230th of 251 |
Risk
| Regulatory Safety | 3 | 237th of 251 | |
| Catalyst Calendar | 2 | 222nd of 251 | |
| BTC Alpha Potential | 2 | 200th of 251 | |
| Team Execution | 3 | 208th of 251 | |
| Treasury Runway | 5 | 74th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
Neo X EVM sidechain launched to attract Solidity developers; NeoFS decentralized storage could see enterprise use
Principal risk
Developer community minimal, China crypto regulations remain hostile, network produces GAS income but no protocol value accrual
Market and supply
| Price | $1.85 |
| Market cap | $130.7Mrank 214 |
| All-time high | $198.3814 Jan 2018 |
| Circulating supply | 70,530,000 |
| Eventual supply (total supply) | 100,000,000 |
| Dilution to full supply | 1.42x |
| Total value locked | $5.0M |
| Listed on | Binance, Bybit, Bittrex |
Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to NEO measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
Sources
- [CoinGecko] NEO ATH $198.38 in Jan 2018; 98.5% below ATH; network activity minimal
- [Neo.org Blog] Neo X EVM sidechain launched in 2024 to attract Solidity devs but gained minimal traction
- [Reuters] China crypto ban significantly limits NEO's domestic development community
Common questions
- What is the Early Thunder score for Neo (NEO)?
- NEO scores 68 out of 250 on the 25-variable framework, ranking 236th of 251 rated tokens (bottom 10%). The framework verdict is PASS.
- What are NEO's strongest fundamentals?
- NEO ranks highest on Holder Concentration 4/10, 58th of 251, Supply Inflation 5/10, 61st of 251, Exchange Depth 5/10, 73rd of 251 and Treasury Runway 5/10, 74th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- What are the weakest parts of the NEO thesis?
- NEO scores in the bottom third of the universe on Market Share 1/10, 245th of 251, Active Users 1/10, 243rd of 251, Network Growth 1/10, 242nd of 251 and Regulatory Safety 3/10, 237th of 251. The single risk carried on the scorecard is: Developer community minimal, China crypto regulations remain hostile, network produces GAS income but no protocol value accrual
- How much NEO supply is still to enter circulation?
- 70.5% of eventual NEO supply is circulating today, leaving 1.42x the current float still to arrive. At a flat price per token that is 29.5% of fully diluted value ahead of current holders.
- How far is NEO from its all-time high?
- NEO trades 99.07% below its all-time high of $198.38. Returning to that high requires a 107.5x move from the level used in this scoring pass.
- Which tokens have a similar profile to NEO?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to NEO are QTUM (61), XTZ (88), THETA (105) and ZIL (63). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for NEO?
- Neo X EVM sidechain launched to attract Solidity developers; NeoFS decentralized storage could see enterprise use
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.