Barry Silbert, CEO of Digital Currency Group, announced in a recent tweet that NEAR, the native token of Near Protocol, is the company’s third-largest investment.
Time for the big reveal…
DCG’s new third largest crypto holding is… $NEAR
one) $BTC
2nd) $ETH
3) $NEAR
4) $ZEC
5) $ZEN https://t.co/PbQ5BoEpC3— Barry Silbert (@BarrySilbert) April 7, 2022
Bitcoin and Ethereum remain the Digital Currency Group’s largest assets by far. Zcash (ZEC) and Horizen (ZEN) rank fourth and fifth, respectively.
Earlier this week, Near Protocol raised $350 million in funding from American investment firm Tiger Global and other contributors. It was announced that the new funds raised will help Near increase “the number of regional centers in key community centers around the world.” As we previously reported last January; The NEAR Foundation had raised $150 million in a round led by Three Arrows Capital, Alameda and Jump.
Near Protocol is a smart contract-enabled blockchain designed to host decentralized applications (dApps). Last August, the project launched an Ethereum bridge called Rainbow, making it possible to transfer ERC-20 tokens between the two blockchains.
Rivalry in NEAR and Shiba Inu
NEAR is currently the 16th cryptocurrency by market cap. It’s on its way to surpassing the meme token Shiba Inu (SHIB), which has been performing quite poorly in 2022 so far.
NEAR has become the best performer among the top 100 cryptocurrencies by market cap, gaining more than 24% in the past 24 hours. Despite the broader crypto market hitting a hurdle, it’s up 42.38% compared to last week.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.