- Former popular cryptocurrencies like NEO, VeChain, EOS, and IOTA are seeing a resurgence in price and interest as Bitcoin surges.
- NEO has surged 33.5% in the last 24 hours, reaching its highest price since April 2022 after a major crash.
- VeChain, EOS, and IOTA, which gained traction during the 2017 bull run but faded into obscurity, are also exhibiting bullish signals and price increases.
The crypto market is booming again, with Bitcoin surpassing $71,000 and Ethereum testing new highs. In the midst of this bull run, old crypto projects from the 2017 hype cycle are rising from the ashes. Coins like NEO, VeChain, EOS, and IOTA were all the rage years ago before fading into obscurity. Now, they are surging once more. Can these old-timer cryptos recapture their former glory?
NEO’s Impressive Comeback
NEO, once called the “Chinese Ethereum,” has jumped over 30% recently to over $2. This is NEO’s best price since early 2022, after nearly a year of declines. Technical indicators suggest a bullish breakout, with NEO moving past its 10-day EMA and its ADX trend strength indicator flipping from bearish to neutral. The coin appears poised to keep running.
VeChain Follows a Similar Path
VeChain, a supply chain focused blockchain from a former Louis Vuitton executive, has climbed close to 10%. Like NEO, VeChain is breaking its 10-day EMA resistance and staving off a death cross selloff. The weakening ADX also points to a possible bullish turnaround.
EOS Joins the Party
EOS, conceived by a former Ethereum co-founder, has risen 7% to over $1.10. Despite raising a record $4 billion ICO in 2017, EOS faded over the years. But with its 10-day EMA crossing above its 55-day EMA and a low ADX, EOS is flashing bullish signals again.
IOTA Shows Some Signs of Life
IOTA, which focuses on Internet of Things payments, has jumped hugely in the past day, up nearly 50% to $0.32. However, IOTA’s bounce is not as technically convincing. It remains in a downtrend, and its RSIs are neutral. IOTA may have more room to fall before truly reversing course.
The Road Ahead
As the crypto market picks up steam, it makes sense that old forgotten coins are rising too. NEO, VeChain, EOS, and IOTA were all top projects years ago before being decimated in the bear market. Now, if their technicals hold up, they could regain their former stature. But nothing is guaranteed in crypto. These coins have a lot to prove before their comebacks can be called complete. One day does not make a recovery.
