NEO has gained 50 percent this Thursday, after a major cryptocurrency exchange announced it would add the asset for traders.
The Chinese platform’s token, which plummeted following the People’s Bank of China’s ban on ICOs, is currently trading around $34, up from lows of near $17.
Bitfinex announced the move on Twitter and its blog earlier today.
We are happy to announce that $NEO is now available for trading against USD, BTC & ETH!
— Bitfinex (@bitfinex) September 7, 2017
“Bitfinex is excited to support the NEO ecosystem and the team behind the token, and to experience first hand the growth and development of the project,” it commented.
Altcoins have staged a broad comeback in the days following the initial crackdown in China on Monday.
China ICO story not over
Bitcoin has also reversed its previous losses, continuing to trade at around $4600 as of press time from lows of $4008 earlier in the week.
NEO had received mixed support following the events, with commentators eagerly awaiting reactions from developers as to how the platform would continue operating under a ban or future restrictions.
The latest information from the PBoC meanwhile suggests the story is not over for ICOs in China, and that a regulated environment could surface. This, as witnessed earlier this year, would be a similar approach to that taken by Chinese regulators to cryptocurrency exchanges.
“This current ban is a ‘stop’ but not a ‘forbidden,’” a source close to regulators told a Chinese TV station in an interview.