The cryptocurrency market has remained sTron (available on Binance)g towards the end of this week and is still climbing. Currently, the total market cap is just under $500 billion. The last time the market was this high was on the last day in January. The top 10 coin that is seeing the most gains on today is NEO.

NEO, China’s Ethereum (available on Coinbase), is soaring on the market today and it might have a lot to do with it being the first day of the Chinese New Year. This celebration lasts over two weeks long and follows the Lunar calendar every which means it doesn’t start on a particular day every single year, as our Christmas does. Traditionally, Chinese families get togETHer on New Year’s Eve and enjoy a dinner togETHer and then they clean their houses the next day to sweep away any bad fortune from the year before.

Why NEO may be soaring in price right now is typically children, and teens receive red envelopes stuffed with ‘lucky money’ on New Years Day. Due to everything become digital now, China has red envelope apps, and the money is sent digitally. Some of these young adults may have taken their gifts this year and invested in one of China’s most popular cryptocurrencies.