NEO Drops 35% After Major Token Sell-Off
Key Takeaways
The price of the cryptocurrency NEO has dropped by 35% within a week. The trigger was the sale of 9.25 million tokens by a long-term holder. The total value of the transaction was approximately 60 million US dollars. The NEO Foundation denies any responsibility and is currently investigating internal wallet transfers. Despite the timing of the price drop, the Foundation sees no clear connection.
Sharp Price Losses Cause Concern
Between March 24 and April 1, 2025, the price of NEO fell from $8 to $5. This drop represents a 35% loss. The reason: a long-time token holder transferred 9.25 million NEO to Binance, one of the world’s largest crypto exchanges. This amount represents about 13.2% of the total circulating supply.
NEO Foundation Denies Allegations
Following the price crash, speculation arose within the community. Some investors suspected that the NEO Foundation itself might be behind the sale. The organization responded with an official statement on X (formerly Twitter), emphasizing that neither the founders nor team members were involved in the sale. NEO Global Development also did not sell any tokens.
Internal Investigation Reveals Wallet Activity
The Foundation conducted an investigation to trace the origin of the transactions. A wallet was identified that had accumulated around 11.8 million NEO between 2017 and 2021. In 2021, 11.1 million of those were transferred to the Neo 3 blockchain. From there, the tokens moved through multiple wallets and eventually reached a Binance deposit account.
The key transfers began on March 24, 2025. Within a few days, 9.25 million tokens were sold at an average price of $6.50. Only around 2 million NEO remained in the affected wallets.
Market Reacts with Panic Selling
The wave of selling has shaken investor confidence. Technical indicators such as the Chaikin Money Flow (CMF) and the Relative Strength Index (RSI) show a clear downward trend. The CMF dropped from 0.07 to -0.19, indicating strong capital outflows. The RSI fell into oversold territory, a sign of excessive selling pressure.
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Additionally, NEO’s spot netflow has shown a positive trend for the past eight days. This means more tokens are flowing into exchanges than being withdrawn. At the time of analysis, the net inflow stood at 2.07 million US dollars. This points to panic selling — many are looking to liquidate their holdings before the price drops further.
What’s Next for the NEO Price?
The current market situation is marked by uncertainty. If selling pressure continues, the price could fall below $4.50. This would bring NEO back to a level last seen in June 2017. The key factor will be whether investor confidence can be restored — or if further large-scale sales follow.
Our Assessment
The NEO case highlights how sensitive crypto markets are to large token movements. Even though the NEO Foundation is not directly responsible, there is still a loss of trust. As an investor, it’s important to keep an eye on wallet activity from major holders. Such movements can have a significant impact on the market — regardless of whether they are planned or accidental.
Caution is advised at the moment. Those already invested should closely monitor developments. New investors should wait until the market stabilizes.
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