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NEO price dips 7% as Binance ends support for Neo Legacy Network
- The exchange has confirmed plans to halt deposits and withdrawals on Neo Legacy.
- The phase-out will begin on August 25, with a complete shutdown scheduled for October 15.
- NEO has plummeted amidst community uncertainty.
The digital assets landscape endured a bloodbath on Monday as the global crypto market cap plunged 3.27% in the past day to $3.89 trillion.
While most assets reflect bear dominance, NEO suffered the most after Binance confirmed it would end support for Neo Legacy.
Starting August 25, the leading exchange will no longer support asset deposits through the NEO network and will halt withdrawals by October 15.
Binance will cease support for Deposits and Withdrawals of Tokens on the Neo Legacy Network.
More information 👇 https://t.co/ePyHc2Wv8j
— Binance (@binance) August 18, 2025
Moreover, Binance will not credit any deposits made after the deadline.
The announcement magnified NEO’s decline.
The alt lost around 7.62% from $6.5012 to an intraday low of $6.0058.
Affected tokens
The halt decision will impact three key assets: NEO, NeoGas (GAS), and Kepple (QLC).
While GAS and NEO holders can use other Binance-supported platforms to transact, Kepple investors encounter a harsher situation.
The exchange has advised holders to cash out all QLC before the October 15 deadline. The team emphasized:
It is strongly recommended for users holding QLC tokens to withdraw their remaining tokens before 2024-10-15 08:00 (UTC), as transfer of assets will cease after the shutdown.
What prompted Binance’s decision
The leading trading platform is known for delisting projects that do not meet certain standards.
However, Neo Legacy’s case is different.
Binance emphasized that the platform’s transition into a more advanced version, Neo N3, triggered the suspension.
The Neo Legacy team announced the network’s shutdown in April to focus on the advanced platform “designed to replace Neo Legacy.”
The official announcement read:
As part of our commitment to advancing Neo’s technology and focusing our efforts on the future, we have made the decision to sunset the Neo Legacy Network.
Meanwhile, Binance’s notice stirred the markets as it formalized the end of Neo’s older system.
However, the suspension could be a necessary step as handling two active platforms often fragments user activity and liquidity.
Focusing on Neo N3 might form a cleaner ecosystem that can bolster adoption in the coming times.
What’s next for investors
With the deadlines somewhat tight, Neo Legacy users may have to consider three primary things.
Firstly, any deposit completed to Binance via Neo Legacy after August 25 will lead to asset loss.
Secondly, the exchange will suspend withdrawals entirely on October 15.
Lastly, enthusiasts should watch the native token’s performance.
NEO could plummet further to test key price levels as investors seek clarity.
NEO price outlook
The alt exhibits significant bearishness at $6.06.
NEO attempts to recover from earlier losses, but indicators signal sellers’ dominance.
The 3H MACD and RSI confirm that bears control of NEO’s trajectory as they depict waning momentum.
Moreover, the current broad market bias suggests further price dips for NEO.
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Bitcoin (BTC) siebte Woche in Folge im Aufwärtstrend: Korrektur im Anmarsch?
Nach sechs Wochen mit Kursgewinnen steht Bitcoin kurz vor einer weiteren „Korrektur“ – wird die Kursentwicklung von BTC die Geschichte wiederholen?
Bio Protocol defies crypto downturn with a 720% surge in volume
- Bio Protocol price rose more than 50% as bulls defied broader market selling to hit $1.46
- Despite overall sell-off pressure, BIO price is up double-digits in 24 hours as volume spikes 720%.
- BIO has benefited from key network developments, including staking and partnerships.
The price of Bio Protocol (BIO) shrugged off a broader crypto downturn to lead 24-hour gainers on Monday.
With the project that’s targeting the decentralized science (DeSci) ecosystem hitting key milestones recently, buyers have upped the ante by pushing BIO higher.
BIO price surges nearly 50% to lead top gainers
The Bio Protocol (BIO) price saw a significant surge as top altcoins struggled amid profit taking.
With Bitcoin shedding gains to below $116k and Ethereum dipping to $4,200, the BIO token climbed nearly 50% to lead the top gainers.
Per CoinMarketCap, this put the decentralized science project among the 500 largest cryptocurrencies by market capitalization.
Notably, Bio Protocol traded up from lows of $0.10 and topped $0.15.
The uptick meant BIO defied overall declines across the market, with gains coming as its 24-hour volume spiked 720% to over $393 million.
Although BIO remains double-digits up with over 21% upside in the past 24 hours, it has dropped from the $0.15 high. This shows the overall market weakness as sellers drive it to around $0.12.
Bio Protocol has hit key network milestones
Bio Protocol has gained amid significant network milestones in the past week.
As the DeSci economy picks up, the Bio Protocol team has positioned the project for greater traction with the launch of Bio Markets.
The goal is a platform that brings real-time insights into projects within the Bio Protocol ecosystem.
Markets bring growth trends and in-app trading for BioDAOs, and Bio plans to expand trading capabilities to IP-Tokens and new BioAgents.
Staking activity has also soared, with over 125 million BIO tokens staked, up to 3.5% of the circulating supply.
As the Bio team recently noted, staking generates BioXP, a key component for participating in upcoming Ignition Sales.
Unveiling of Yapping BioXP, also set to go live in the app this week, includes a boost campaign for BioAgents, further incentivizing community engagement.
What does it mean for BIO price?
Bio Protocol also hit a major milestone with CLAW, Percepta’s IP-Token.
Meanwhile, Molecule’s development of its v2 protocol targets the bridging of traditional corporate structures with DeSci.
Listing on Coinbase, the top U.S.-based crypto exchange, allows for further institutional adoption.
“From Bio V2’s launch and 100M+ BIO staked, to Coinbase listing $BIO and VitaDAO advancing longevity trials, the past month marked key steps in AI-driven science and DeSci adoption,” Bio Protocol recently posted.
Achievement of these milestones could help bolster the price of BIO.
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SOL could retest $174 amid bearish price action; Check forecast
Ke takeaways
- Solana is the worst performer in the top 10, down 6% in the last 24 hours.
- The coin could retest the $174 support level as BTC and others underperform.
SOL dips 6% as the broader market sheds nearly $200b
The weekend was bearish for Bitcoin, and other leading cryptocurrencies recorded huge losses. Bitcoin dropped to the $115k region after setting a new all-time high price last week, while Ether is now trading around $4,285 after hitting $4,700 a few days ago.
The worst performer among the top 10 cryptocurrencies by market cap is SOL, Solana’s native coin. SOL is down 6% in the last 24 hours and risks dropping below $180 soon if the bearish trend continues.
Despite the bearish performance, SOL has maintained its position as the sixth-largest cryptocurrency by market cap, behind Binance’s BNB. However, if the negative trend continues, SOL could lose more value and see its market cap drop below $90 billion.
The total cryptocurrency market cap dropped by nearly $200 billion over the weekend as SOL, ETH, XRP, and BTC all recorded heavy losses.
SOL eyes $174 support zone amid massive sell-off
The SOL/USD 4-hour chart remains bullish and efficient despite Solana recording losses over the last few hours. The technical indicators are switching bearish on the lower timeframe, indicating that sellers are now in control of the market.
The RSI of 37 shows that SOL is heading into the oversold territory if the bearish trend continues. The MACD lines have also crossed over into the negative region, suggesting a bearish trend.
If the sell-off continues, SOL could retest the first major support level and the TLQ at $174 in the coming hours or days. An extended bearish run would see SOL test the $155 low for the second time time month.
However, the market could embark on a recovery, and SOL could reclaim the recent high of $209. An extended bullish run would see SOL surge higher and hit $250 for the first time since February.
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