It is the end of an era.
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NEO
5.48%
NEO
NEO
Price
$4.98
5.48% /24h
Volume in 24h
$31.81M
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Price 7d
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, also known as the Chinese Ethereum, is preparing to shut down its original blockchain, NEO Legacy, first launched in 2016 under the name AntShares.
There are two phases to the shutdown process. NEO completed Phase 1 by shutting down its testnet on 1 June 2025. As part of the second phase, the mainnet will be permanently shutting down today, 31 October 2025. This marks the end of NEO’s transition to its newer blockchain, NEO N3, an upgraded version of the older protocol.
There is also NEO X, a sidechain built to work with Ethereum tools and designed to prevent trade manipulation.
During its 8 years of active service, NEO Legacy processed over 281 million transactions, created more than 14 million blocks and supported nearly 3 million wallet addresses.
— Neo (@Neo_Blockchain) April 29, 2025
Before it finally shuts down the old blockchain protocol, NEO will take a snapshot to preserve historical data.
Once the main network is shut down, NEO Legacy will stop producing blocks and users will no longer be able continue their daily activity on the blockchain. Anyone still using NEO Legacy must move their assts and smart contracts to NEO N3 before today’s deadline.
This can be done through official migration links or through Neon Wallets.
In the meantime, NEO is working with centralized exchanges to manage any remaining custodial assets and has asked node operators to shut down their system once the network is officially closed.
EXPLORE: Top 20 Crypto to Buy in 2025
Will Xi Jingping’s Crypto Plan Pump NEO’s Price In 2026?
To speculate on whether NEO will pump in 2026, we must first understand China’s stance on crypto. As of today, the country stands firmly against legalizing decentralized cryptocurrencies like Bitcoin or NEO in mainland China.
China has rejected any form of speculative crypto trading or mining and has hinted no reversal in its policies. What Chinese President Xi has pushed for however, is blockchain technology for state-controlled applications, such as the digital Yuan (e-CNY) as part of the 15th Five-Year Plan that prioritizes digital economy, but excludes crypto.
In the meantime, China has been signaling possible economic measures such as loosening its fiscal policies. Although these moves do not aim at crypto directly, they could still boost prices since global markets tend to react in sync.
China’s Financial Revolution: The End of Dollar Dominance?
China has strategically overhauled its financial system to reduce reliance on the US dollar, aiming to reshape global trade dynamics. This move could have major implications for crypto, and XRP in particular.
— Adam_Xrp (@Adam_Xrp_) October 26, 2025
… Moreover, the recent trade agreements between the US and China have helped ease tensions between the two countries, creating a more favorable market in Asian countries, including crypto.
That said, these developments do not specifically focus on crypto and do not guarantee to drive prices higher on their own.
EXPLORE: The 12+ Hottest Crypto Presales to Buy Right Now
Neo’s Price Pump Hinges On Hong Kong, Not Beijing
While China has banned crypto, there is still some room for NEO to grow from developments happening outside of the mainland.
Hong Kong has emerged as a regulated crypto hub in the region and has Beijing’s backing. Moreover, initiatives like ETF approvals and stablecoin pilots have helped boost interest in China-linked projects like NEO, VeChian and Filecoin.
This has resulted in a China coin narrative, boosting their overall performance this year.
Hong Kong approves the first-ever Spot $SOL ETF (Oct 27, ChinaAMC)
Institutional money entering, $SOL +2–3% already$SOL TVL $11B+, $500 potential by year-end
DeFi booming: $JUP ICO & $MET yield platformspic.twitter.com/NGWjQ8iLHI
— Web3Space
| TheListingChain (@Web3Space_xyz) October 26, 2025
Also, the country’s push for blockchain in cybersecurity and supply chain puts eyeballs on NEO with a caveat: China preferers permissioned blockchains over decentralized ones like NEO.
Moreover due to the ban, Chinese investors cannot easily access it. Any major price pump, for NEO to truly take off, say doubling to $10 from its current price at
, would require major policy shifts like full crypto legalization in China or a massive adoption in Hong Kong.
The latter seems likely than the former.
EXPLORE: Next 1000X Crypto – Here’s 10+ Crypto Tokens That Can Hit 1000x This Year
Key Takeaways
- NEO Legacy shuts down, completing NEO’s transition to newer blockchain systems NEO N3 and NEO X
- Users must migrate assets to NEO N3 before all on-chain activity halts permanently
- Future NEO growth depends on global adoption and Hong Kong’s crypto momentum, not mainland China
The post NEO Legacy Mainnet Shuts Down: Will Xi Jingping Crypto Plan Pump NEO Price in 2026? appeared first on 99Bitcoins.
