The cryptocurrency market has been hit by significant volatility, and Neo (NEO) is at the center of attention due to an alarming price drop. The coin is currently trading at $4.65, down -7.95% from yesterday and a staggering -35% over the past seven days. This decline is far steeper than the weekly losses recorded by major cryptocurrencies like Ethereum (-9%), XRP (-12%), Solana (-13%), and Dogecoin (-15%).
Read NEO Price Prediction for more detailed insights
Insider Trading Concerns and Market Reactions
Neo’s drastic price drop of -39% has fueled speculation about possible insider trading or manipulation. Members of the crypto community have raised concerns about a potential sell-off orchestrated by the Neo Foundation.
In response, the Neo Smart Economy posted on X, denying any involvement from the foundation, its founders, or team members in recent market activities. The team assured investors that no insider dumping occurred during this period.
A Whale Dumping Over 9 Million NEO?
An investigation by the Neo Foundation revealed that a Neo Legacy address, active between 2017 and 2021, had liquidated 9.25 million NEO on Binance, valued at $60 million at an average price of $6.50 per token.
These transactions, which began on March 24, 2025, account for 13.2% of NEO’s circulating supply. While the timing is concerning, the foundation stated that any direct link between these transactions and the price collapse remains speculative.
Also Read: Decentraland Price Prediction 2025, 2026 – 2030
Neo Foundation’s Emergency Response Plan
In light of the turbulence, Neo’s founder Da Hongfei announced on April 3rd that the team is preparing an emergency plan, with further details to be revealed within 24 hours. Investors eagerly await more clarity on how Neo will navigate this challenging phase.
