NEO price has been rising since Monday and is gaining momentum day by day. The price has gained more than 12% in the past two days, catching the attention of cryptocurrency traders.
But why is the price of NEO increasing? NEO is the 4th biggest gainer among the top 100 cryptocurrencies by market capitalization today.
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Reasons for today’s NEO price rise
The main reason behind today’s NEO price increase is believed to be Neo’s partnership with Alchemy Pay, done on May 18th, to make it easier to log in and out of the NEO ecosystem.
Neo is a leading open-source community-driven blockchain platform and this partnership will enable Neo users around the world to buy cryptocurrencies using their preferred local fiat currencies.
Neo-based developers will also benefit from Alchemy Pay’s direct-to-client plugin, which can be easily integrated and deployed across dApps and platforms with minimal cost and hassle.
Alchemy pay payment gateway
Alchemy Pay Payment Gateway allows Visa Inc. users in 173 countries. (NYSE:V), Mastercard (NYSE:MA), Diners Club and Discover as well as enables payments with mobile wallets and domestic transfers in developing markets.
Alchemy Pay’s easy-to-use low fees, exceptional conversion rates and KYC process make buying and selling cryptocurrency with local currencies as convenient as any online payment system. Its extensive network includes over 300 fiat payment channels, enabling payments beyond card payments to local mobile wallet options.
Alchemy Pay previously partnered with Neo to embed the NEO token into Alchemy Pay’s global crypto gateway. In addition, both Neo and Alchemy Pay are members of the Blockchain Infrastructure Alliance as founding members.
