NEAR The price began to rise unexpectedly. The token has managed to gain more than 10% in the last 24 hours, thus gaining more than 25% in the last 7 days. The details of the latest bullish move of NEAR, traded at $5.18, are in our news.
NEAR FoundationNative token NEAR also posted a strong rise after announcing the launch of a $100 million venture capital and venture lab
The new launch was also promoted as a project aimed at expanding the scope of Web3. The launch was carried out in partnership with Caerus Ventures. In response to the successes of the NEAR protocol, its market cap has increased by more than 9%.
The venture fund will initially have $50 million, with hopes of a $100 million extension in Series A funding.
What is NEAR?
NEARis the native token of the NEAR protocol, a group that wants to expand the Web 3.0 ecosystem. It is also building tools for Web 3.0 developers to help them code in Rust for JavaScript and blockchain. The project also has a scalable blockchain.
The group also garnered attention by introducing “sharding” technology to increase the scalability of Web 3.0 applications. Sharding can be defined as a technology where transactions are split into smaller groups for execution and then combined to improve scalability. The project’s sharding technology aims to add one billion users to its applications.
Near also has wallet and staking products. The NEAR wallet is not detained. Being an offline wallet, the wallet also allows a user to be the sole owner of their private key. Offline wallets do not have potential conflict of interest issues due to centralization.
The venture fund announcement isn’t the group’s only success, of course. It announced that over 800 Web 3.0 projects are currently deployed on its protocol. He also continues to run NEARCON in Portugal.
NEARCON If it goes well, the price of the token will continue to rise. Investors need to pay attention to the Fed’s hawkish stance, however.
You can follow the current price action 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.