Neo Price Bleeds 40% to End August as Worst-Performing Big Crypto

NEO's dismal performance in August has likely strengthened the already strong bear grip on its market.

Throughout the month, the world's 14th largest cryptocurrency has moved in tandem with the broader market, which took a beating in August due to SEC's rejection of multiple bitcoin exchange-traded funds.

The broader market made a considerable rebound in the final two weeks of August, regaining nearly $40 billion of the lost value in total market capitalization.

Still, the rally towards August's end was not enough for many cryptocurrencies to salvage the considerable losses endured in the weeks prior, including the likes of bitcoin and ether, the markets largest assets, reporting double-digit monthly losses.

All-time high: $162.11.Closing price on August 31: $31.73.Current market price: $19.16.Rank as per market capitalization: 15.

NEO came stumbling into August thanks to a less than impressive performance in July when its price declined more than 40 percent month to month.

Prices continued their descent from a starting price of $28.87 on Aug. 1 to its monthly low of $14.38 set on Aug. 14, at the time representing a 50.16 percent two-week depreciation.

The cryptocurrency made a bit of a comeback during the last two weeks of August, climbing 33 percent from its monthly low to a final price of just over $19 on Aug. 31.

All in all, NEO printed a 39.62 percent loss during the month of August.

Still, the monthly candle does offer some hope for bulls due to its lengthy bottom wick, which indicates there was considerable buying after price touched the $14 support.