NEO and Gas have registered 13% and 30% daily profit respectively, respectively, fed by trading activity with Korean won (WFD) pairs on Upbit.
According to market data, NEO placed $ 54.4 million in volume on its KRW pair, while GAS registered $ 134.6 million, both assets ranked from the top overlapers of the day on digital asset platforms.
The price increase follows a steep decrease of 44% for NEO between March 24 and April 2 and a 32% decrease for gas in the same period, which reverses the crash and surprising market observers.
NEO Bond program
The Golf coincides with the Recent launch From the Neo Bond program, a market stabilization initiative launched by the NEO Foundation.
The neo-bond program was opened for participation on 5 April with a seven-day deposit window. The initiative enables NEO holders to lock their tokens for 30 days in exchange for an annual return of 50% and a price guarantee of $ 5 at the due date.
Structured as a safe with a fixed term, the neo-bond is designed to support market stability through voluntary token lockups and reliability stimuli. Participation requires the sending of NEO from Personal Neo N3 portfolios, and funds are automatically returned to the same address after the term, including interest and any fee falls below $ 5 threshold.
The NEO Foundation has financed the bond in advance with 1 million NEO in a wallet with multiple signatures to guarantee liquidity and to guarantee the payment options. The address manages all publicly verifiable bond funds.
Korean shopping flows
UPBIT market data display intense WFD -Handel activity in both NEO and Gas. The question mentioned by the WFD contributed to a competitive increase in the price for both assets, although price action outside the Korean markets remained more damped.
On April 9, the NEO/KRW pair accounted for more than 60% of the global trade volume of the token, while Gas/KRW approached 70% of the total volume, which indicates the regional concentration.
The relative increase in gas volume suggests that derived cover or retail interest is fed by the promotional visibility of the NEO Bond program.
Although gas is only used to pay costs for activities on the NEO blockchain, the price is strongly correlated with NEO. On the Pearson-correlation coefficient, gas shows a 0.94 positive correlation with NEO on the time frame of 1 year, rising to 0.96 in the time frame of 1 months.
The Pearson-correlation coefficient estimates the relationship between two variables, ranging from a total lack of correlation (-1) to a full correlation (1).