Neoteric (NTRC) crypto jumps 2,000%; Is this new DeFi token safe?

July 27, 2022 11:16 AM AEST | By Ankit Sethi
Follow us on Google News:


  • One asset, Neoteric crypto, has gained nearly 2,000% at a time when Bitcoin is falling
  • Neoteric is a new entrant among cryptos, with no DeFi dashboard available yet for enthusiasts
  • The ‘hold-and-earn’ concept took a hit after the collapse of platforms like Celsius

Cryptocurrencies can confuse many, thanks to assets having a contrasting price trajectory at any given time. So-called bellwether assets, Bitcoin and Ether, are both in the red right now, but a few others, like Ethereum Classic (ETC), are gaining.

Even though this can also be the case in traditional assets like listed shares, what can confuse cryptos is the abrupt spike in the value of an asset. This time, it is Neoteric (NTRC) crypto, which only recently made its debut on CoinMarketCap. What is Neoteric crypto, is it safe? Let us explore by using the information available.

What is Neoteric crypto?

Neoteric is one of the newest cryptocurrencies on the block. CoinMarketCap, which tracks over 20,300 cryptos a day, started tracking Neoteric crypto in mid-July 2022. The project claims it is a “soft fork” of a DeFi protocol RFI (Reflect) and Liquid. The Neoteric protocol is built using the Binance Smart Chain, it is claimed, and the NTRC token was launched on PancakeSwap.

What Neoteric promises is more or less similar to other DeFi protocols -- yield farming and liquidity. NTRC is to be paid as a fee for any transaction, and this fee, Neoteric claims, is distributed among all the holders.

Another native token is nGOVER, which will be used for governance, Neoteric says. The protocol boasts decentralised operations, and the governance token can be obtained by staking the NTRC token. The project also talks about the elimination of bots, which has become a huge concern in yield farming. As of now, the Neoteric dashboard is not operational, and the website has very limited information.

Is Neoteric crypto safe?

Neoteric is new with availability restricted to PancakeSwap. It has a long road ahead with the project having to prove its yield farming capabilities in the already overcrowded DeFi space. CoinMarketCap started tracking Neoteric crypto this month, and according to a tweet by Neoteric, the market cap reached US$800,000 in just one day. Any long-term price data is not available.

Major ‘hold-and-earn’ platforms, including Celsius and Voyager, have recently lost their sheen, which means extreme due diligence is required in Neoteric’s case. Separately, Bitcoin, the oldest and biggest cryptoasset, is having a rough ride this year, with the price down more than 50% since January 1.

Bitcoin price

Data provided by

Neoteric crypto price

As of writing, the NTRC token is trading at nearly US$0.02. What is stunning is the 24-hour price jump, which is almost 2,000%. CoinMarketCap reflects Neoteric crypto’s “self-reported” market cap as over US$13 million.

Bottom line

Neoteric crypto is a new asset in the market, with not a very high trading volume. As of writing, the 24-hour volume is not even US$1 million. However, the price of the NTRC token has jumped steeply. Neoteric claims to provide yield farming and related services, but for enthusiasts, due diligence must be the preferred first step.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK