NEO Legacy Live protocol Ceases Operations: Can Xi Jinping’s Crypto Strategy Boost NEO’s Value in 2026?
This marks the conclusion of a significant chapter.
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, often referred to as the Chinese ETH, is on the verge of discontinuing its original blockchain, NEO Legacy, which first launched in 2016 under the title AntShares.
The shutdown process consists of two phases. NEO has accomplished Phase 1 by taking down its testnet on June 1, 2025. During the next phase, the mainnet will be permanently decommissioned today, October 31, 2025. This signifies the conclusion of NEO’s shift to its enhanced distributed record, NEO N3, which is an evolved version of the previous protocol.
Additionally, there exists NEO X, a sidechain designed to integrate with ETH tools and aimed at curbing trade manipulation.
Throughout its eight years of active existence, NEO Legacy handled over 281 million transactions, generated more than 14 million blocks, and accommodated nearly 3 million digital wallet addresses.
— Neo (@Neo_Blockchain) April 29, 2025
Prior to the final shutdown of the old blockchain system, NEO will conduct a snapshot to safeguard historical information.
Once the main network shuts down, NEO Legacy will cease producing blocks, and users will no longer be able to carry out their regular activities on the distributed record. Those continuing to utilize NEO Legacy are required to transfer their assets and smart contracts to NEO N3 before the deadline today.
This transfer can be achieved through official migration links or via Neon Wallets.
Meanwhile, NEO is collaborating with centralized exchanges to manage any remaining custodial assets, while also requesting that network node operators deactivate their systems once the network is officially terminated.
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Will Xi Jinping’s Crypto Plan Boost NEO’s Value in 2026?
In order to speculate about NEO’s potential increase in 2026, it is essential to comprehend China’s position on digital currency. At present, the nation stands firmly against the legalization of decentralized cryptocurrencies like Bitcoin and NEO within mainland China.
China has dismissed any type of speculative crypto asset trading or mining, indicating no likelihood of policy reversal. However, President Xi Jinping has advocated for blockchain technology for state-regulated applications, such as the digital Yuan (e-CNY), as part of the 15th Five-Year Plan promoting the digital economy, while omitting cryptocurrency.
Simultaneously, China has shown indications of possible economic strategies, including the easing of its fiscal policies. Although these actions do not specifically target crypto, they may still positively affect prices as global markets often respond collectively.
China has strategically reformed its financial framework to lessen dependence on the US dollar, aiming to transform global trade dynamics. This transition could have significant ramifications for cryptocurrency, especially XRP.
— Adam_Xrp (@Adam_Xrp_) October 26, 2025
Moreover, recent trade agreements between the US and China have contributed to reducing hostilities between the nations, fostering a more encouraging crypto market environment in Asian countries, including digital currency.
Nonetheless, these developments do not specifically target crypto and do not ensure that prices will rise independently.
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NEO’s Bull run Relies on Hong Kong, Not Beijing
Although China has prohibited digital currency, there remains potential for NEO to flourish based on advancements occurring outside the mainland.
Hong Kong has established itself as a regulated crypto asset hub in the region with Beijing’s support. Furthermore, developments such as ETF endorsements and stablecoin trials have heightened interest in China-associated projects like NEO, VeChain, and Filecoin.
This has fostered a narrative around Chinese coins, enhancing their overall performance this year.
Hong Kong approves the first-ever Spot $SOL ETF (Oct 27, ChinaAMC)
Institutional funds flowing in, $SOL +2–3% already
DeFi thriving: $JUP ICO & $MET yield platforms— Web3Space
Moreover, the country’s initiative for distributed record in cybersecurity and supply chain aids NEO’s visibility, with a caveat: China prefers permissioned blockchains over decentralized networks like NEO.
Additionally, due to the ban, Chinese investors face challenges in accessing it easily. For NEO to truly ascend, such as doubling to $10 from its current price at
, would necessitate significant policy changes, such as the complete legalization of crypto asset in China or widespread adoption in Hong Kong.
The latter appears more probable than the former.
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Key Takeaways
- NEO Legacy decommissions, finalizing NEO’s transition to the updated blockchain systems NEO N3 and NEO X
- Users are required to migrate their assets to NEO N3 before all on-chain activities stop indefinitely
- NEO’s future expansion is contingent on global acceptance and the momentum of Hong Kong’s crypto sector, rather than mainland China
The article NEO Legacy Mainnet Shuts Down: Will Xi Jinping’s Crypto Plan Boost NEO’s Value in 2026? first appeared on 99Bitcoins.
