NEAR Surges 20%: Pantera Capital MP Reveals 5 Reasons For Bullish Outlook

NEAR, the native token of the Layer 1 (L1) blockchain Near Protocol, has surged to a one-month high after breaking out of a previous downtrend that saw the token hit a low of $4 on July 5. Currently trading at $5.93, NEAR has recorded a substantial 20% gain over the past week, propelling it to the 19th position among the top 100 cryptocurrencies.  This positive momentum has drawn the attention of venture capital firm Pantera Capital, whose Managing Partner, Paul Veradittakit, has shared several reasons for the firm’s bullish stance on NEAR’s protocol and its growth potential. Scalability Solution Amidst Bitcoin And Ethereum Challenges Veradittakit took to social media on Thursday to highlight NEAR’s value proposition within the blockchain ecosystem.  Veradittakit noted that while Bitcoin (BTC) and Ethereum (ETH) have been at the forefront of the crypto technology revolution, with Bitcoin establishing itself as a store of value and Ethereum supporting smart contracts and decentralized applications (dApps), both face challenges related to transaction scalability.  According to Panteras MP, this is where NEAR Protocol plays a key role in addressing these scalability issues while prioritizing developer engagement and user experience by offering a scalable and user-centric blockchain solution. Related Reading: Crypto Analyst Predicts XRP Price To Hit $1.03 Soon, Warns Of Initial Dip NEAR distinguishes itself with its Thresholded Proof of Stake (TPoS) system and Nightshade sharding, which increases scalability and decentralization. These advancements have paved the way for NEAR to achieve significant milestones, such as reaching $335 million in Total Value Locked (TVL), an increase of 547% in just six months.  According to Veradittakit, such growth demonstrates NEAR’s traction and strategic effectiveness in the market. Furthermore, NEAR’s market presence is fortified by key metrics, including a 42% quarter-on-quarter increase in daily active addresses, a surge in transactions from 35 million to over 220 million, and a substantial rise in monthly active users from 2.9 million to 15 million. NEAR And Crypto AI Integration Notably, NEAR is also positioning itself as a leader in the emerging crypto artificial intelligence (AI) ecosystem, which has gained significant traction especially over the past year with surges of firms like Nvidia.  The NEAR team has emphasized the integration of AI through an open and decentralized framework, which places user control over data and assets at the forefront.  This has garnered recognition, as NEAR has been announced as part of Grayscale’s AI Fund. The fund’s component assets and weightings include Bittensor at 2.92%, Filecoin at 30.59%, Livepeer at 8.64%, NEAR at 32.99%, and Render at 24.86%. Related Reading: THORChain (RUNE) Primed For Big Gains, Analyst Eyes $20 Milestone Lastly, Veradittakit emphasized that NEAR’s success can be attributed to the leadership of its co-founders, Illia Polosukhin and Alexander Skidanov, as Polosukhin’s expertise in AI and Skidanov’s engineering understanding has been instrumental in developing NEAR’s infrastructure.  Despite reaching its monthly high of $5.93 and a substantial 300% gain year-to-date, the token will need to break above the $8.28 level in the short term to break out of its downtrend structure.   However, with these advancements and the adoption of AI-related tokens, NEAR may be poised for further gains throughout the year, helped along by the broader market’s recovery.  Featured image from DALL-E, chart from TradingView.com

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Near Protocol (NEAR) is on The Verge of Breakout: Analyst Eyes $11 Target

Near Protocol (NEAR) is facing immense selling pressure, thus passing through a hard time. Altcoins see gains dwindle as the broader crypto market is held in the iron grips of bearish sentiment, with NEAR no exception. The most recent massive sell-off wave in Bitcoin attacked crucial levels for BTC, as the value swayed toward the […]

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Near Protocol Breaks Out From Wedge Pattern: Why This Could Trigger A 37% Crash

Near Protocol has had a good year in 2024 so far and has continued to hold up quite nicely despite the multiple crashes that have rocked the market. However, it seems that the altcoin may have exhausted its runway, as a crypto analyst believes its earlier breakout is very bearish for the price. Near Protocol Breaks Out Of Wedge Pattern At the start of the month of May, the Near Protocol price had formed a wedge pattern after falling to $5.5 and then recovering slightly. This wedge pattern would hold its price in a tight range for a while. However, by the middle of the month, the Near Protocol price broke out of the wedge pattern and began a move upward. Related Reading: Shiba Inu Elliot Wave Count Falls Into Place, Heres Where The Bullish Wave 4 Says The Price Is Headed Following the breakout, the altcoins price saw an over 15% recovery that put its price firmly above $8, but this did not last for long. Once the Bitcoin price began to retrace and the crypto market followed, so did the Near Protocol price decline. This confirmed the bearishness hat was brewing in the price of the coin. Crypto analyst Kledji Cuni revealed in a TradingView post that this breakout remains bearish for the price. According to him, the pattern is still very solid, meaning that the breakout actually marked the beginning of the bearish trend. As for how the price will move from here, the analyst expects that Near Protocol will continue to fluctuate around its current level of $7.3. However, the downtrend is expected to happen regardless. The price may spend some time in the same zone before it moves down for an impulsive, he stated. Targets for the decline include an initial 8% drop to $6.78. Following this is another expected drop down to the $6 level. Then finally, the analyst expects the downtrend to bottom out around $4.6. If it goes this low, it would mean a total decline of 37% from its current price. A Reversal In The Cards? Recent developments in the metrics of Near Protocol lend credence to the crypto analysts prediction of an impending decline. For one, the coin is seeing losses in the last month after starting off 2024 on a very strong foot. This is in addition to the notable decline in its daily trading volume. Related Reading: Cardano Price Prediction: Crypto Pundit Forecasts 8,300% Rally To $38, Heres When The Near Protocol daily trading volume has dropped more than 18% in the last day to approximately $246 million. This decline suggests a decline in interest in the altcoin and could be a contributing factor to the decline. At the time of writing, Near protocol is trending $7.3, with a 0.89% decline in the last day and a 4.28% decline in the last week. Featured image from U.Today, chart from Tradingview.com

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NEAR Protocol Soars 7.3%, Is It Poised To Go Higher?

As the crypto industry navigates the waves of this bull run, projects like NEAR Protocol (NEAR) are edging forward with new partnerships and developments. NEARs remarkable performance has crypto analysts considering that the toke is getting underway for a massive surge. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Is NEAR Protocol A Market Leader? At the beginning of the week, crypto analyst World of Charts recognized a bullish flag pattern formed on NEARs monthly chart. According to the analyst, a successful breakout could be followed by a 60-65% bullish wave in the coming days. On Thursday, NEAR tested the $7.00 resistance level, reaching above the $7.50 mark before retracing as the day ended. NEAR breaking out of the bullish flag pattern on Thursday. Source: World of Charts Affirming his previous forecast, the analyst stated that if the token successfully holds above the breakout level, investors could expect the price to move towards $14-$15. Since then, the token has remained above the $7.00 mark, hovering between $7.3-$7.1. Another crypto analyst has been following NEARs performance this week similarly. According to Bluntz, the token has been one of the strongest movers from the lows and will probably be one of the first to make fresh highs. Moreover, he considers NEAR one of the better performers in the top 20 cryptocurrencies. Previously, the trader displayed a chart identifying an ABC zigzag pattern followed by a still-forming impulse wave pattern. NEAR's forming a impulse wave pattern according to the analyst. Source: Bluntz As NEAR broke out of the $7,00 resistance, the analyst reaffirmed his prediction for the tokens movements, considering it a market leader right now. Bluntz added that the token kept plodding along making fresh highs while everything else has stalled out and continued accumulating. Network Expansion And Price Surge The NEAR Protocol is a Layer-1 user-friendly and carbon-neutral blockchain focused on performance, security, and scalability. According to its team, the blockchain for everyone was built with usability in mind. NEARs total value locked (TVL) of $309 million makes it the 16th largest blockchain by this metric. Notably, the network has doubled its TVL since Q4 2023, when it sat in the 25th spot with $128 million. The protocol collaborates with other projects constantly to continue expanding financial horizons. Projects like NodeKit and TrueZK have recently integrated NEARs solution designed for Ethereum rollups, NEAR DA. Similarly, on Thursday, it announced its partnership with Colombian fintech Lulo X and Peersyst Technology to redefine the parameters of digital finance. These collaborations have been seemingly well-received by the NEAR community. Despite being down by 6.25% in the monthly time frame and 65% below its all-time high (ATH) of $20,44 set in January 2022, the blockchains token has shown a remarkable performance during this bull run. In the last three months, NEAR has soared over 146%. Moreover, the tokens daily trading volume has increased by 6.5% in the past day, with over $800 million traded. Likewise, its market capitalization has risen 5% during the same timeframe, making it the 17th biggest cryptocurrency by this metric. As of this writing, NEAR is trading at $7.2, representing a 7.3% jump in the last 24 hours and a 26% rise in the past week. Related Reading: Crypto Bull Run Set To Return Next Week, Predicts Arthur Hayes NEAR's performance in the one-week chart. Source: NEARUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

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NEAR Price Targets $2.40 After Bullish Reversal Pattern

NEAR Protocol (NEAR) continues to demonstrate quiet resilience in a mixed crypto market, posting a modest but meaningful gain of 1.35% in the past 24 hours. Currently trading at $2.20, the token has shown relative strength, rising 6.36% over the last seven days. Trading volumes have also surged, with $184.97 million recorded in daily activity, […]

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NEAR Price To Explode 46% On Ready Player DAO Partnership News

NEAR price was consolidating inside a bullish triangle while trading above key support areas. The technical setup favored the upside as buyers fixed their eyes [...]

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Near Protocol Price Prediction As NEAR Bulls Fight To Stay Above $1.5

While the bear market continues, NEAR Protocol, a Layer 1 blockchain has gained over 80% since June 2021. It is currently trading with a bullish [...]

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Near Protocol Price Prediction As NEAR Fumbles At $1.35

Near Protocol  (NEAR) is trading below key levels as bearish sentiments continue to linger in the crypto market. The technical setup and oscillating indicators show [...]

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NEAR Bulls Charge Their Way Past $4.7 Amid Lack Of Spike In Volume

NEAR Protocol is looking bullish as it darts past the $4.7 support zone. NEAR’s bullish momentum appears to wane Price exhibits low trading volume NEAR price trading at $4.51 However, judging by the price movement, it looks like the bull’s luck may be running out. On the other hand, NEAR’s trading volume appears to be diminished or low even if the altcoin has amassed roughly 35% gains in that same period. So, does this mean a faltering demand for NEAR? From a long-term perspective, NEAR’s resistance and support levels could be anywhere near the $3.7, $4.5, and $6.8 levels; respectively. Originally, the $6.8 zone acted as a support zone in May however the selling pressure has been too overwhelming to control. This level was again retested late in May, but with no luck. Related Reading: Uniswap (UNI) Price Struggles To Overcome $6.8 Resistance $6 Level Posing Hurdles To NEAR Price In the coming weeks, it’s more likely that the $6 level would hoist some hurdle to the price. More so, the $4.7 area is another critical support level as this zone has been pivotal on the daily chart since June and July. While breaching this zone was phenomenal for NEAR protocol, August was rather unkind with a reversal and a seismic price crash. NEAR’s RSI has been pushed above the neutral 50 zones following a rejection experienced last month. Despite the bullish movement, buying pressure has weakened. More so, the OBV also remained sluggish with unfortunately no new highs formed. Now, if the OBV can successfully breach and surpass its high registered in August, then this would validate the strong demand for NEAR Protocol. Additionally, the Chaikin Money Flow or CMF has also barreled past +0.05 revealing NEAR’s huge capital flow. More Buying Activity Needed Overall, technical indicators show some bullish movements and intense buying activity but may not be enough to validate a move that overshadows the $6.8 zone. According to CoinMarketCap, the NEAR price has slumped by 9.05% or trading at $4.51 as of this writing. The current stats have been optimistic and are quite the opposite of NEAR’s remarkable performance over the past few days where the altcoin has registered an uptick of 9.5%. Trading volume is seen to have increased by as much as 36% compared to its slow movement last week. Related Reading: Terra Dries Up As LUNA Sheds 40% From Recent High NEAR total market cap at $3.36 billion on the daily chart | Source: TradingView.com Featured image from The Market Periodical, Chart: TradingView.com  

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NEAR Protocol (NEAR) Price Prediction 2022 — Will NEAR Hit $15 Soon?

Bullish NEAR  price prediction is $6.572 to $11.937. The NEAR  price will also reach $15 soon. NEAR  bearish market price

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NEAR Recovers Slightly After Weekend Drop as Buyers Step Up

NEAR Protocol (NEAR) recovers after a huge dip. NEAR’s price currently stands at $11.90, or 0.0003088 BTC, after a 1.11% ...

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NEAR Protocol Receives $150 Million In Investment Funds

Near Protocol has been getting a lot of love from investors over the last week. Covered: Near Protocol Investment News NEAR Price Action Update Near Protocol (NEAR) is a layer-1 (L1) blockchain platform that’s been front-running the competition throughout the past month. The latest news coming from the smart contract platform proves that retail isn’t […]

The post NEAR Protocol Receives $150 Million In Investment Funds appeared first on CryptosRus.

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NEAR Q3 Market Cap Dive: Exploring The 27% Plummet And Key Financial Metrics

A recent report from research firm Messari provided an overview of the NEAR (NEAR) protocol’s performance during the turbulent third quarter (Q3) of 2024, when the broader cryptocurrency market experienced significant volatility. NEAR Protocol Q3 Performance Throughout Q2 2024, the crypto market saw a downturn that continued into Q3 for NEAR. The protocol’s circulating market cap fell to approximately $5.16 billion, reflecting a significant quarter-over-quarter (QoQ) decrease of about 27.52%.  NEARs token price also retraced slightly, closing the quarter at around $5.29, a marginal decline of 0.21% QoQ. Despite these challenges, NEAR managed to maintain its position as the 17th largest crypto by market cap, indicating relative stability among leading digital assets. However, over the past three weeks, it has gained 54% in terms of market capitalization, rising to $7.99 billion amid the broader market rally led by Bitcoin (BTC) and the catalyst that was Donald Trump’s election.  Related Reading: Ethereum Price On The Verge Of Repeating 2017-2021 Cycle Breakout, Target Above $20,000 One of the notable aspects of NEARs Q3 performance was its revenue, which measures network transaction fees while excluding storage staking. Revenue dropped to approximately $1.64 million, marking a 30.13% decline QoQ.  This dip is particularly significant as it represents the first quarter in the past year where revenue ended lower than it began. The report attributes this to a decline in transaction volume, which resulted in reduced transaction feesdown by approximately 10.48% QoQ and 34.23% year-over-year. As of the end of Q3 2024, about 93.46% of NEARs total token supply was in circulation, with 52.36% of that supply staked. The annualized nominal yield from staking stood at approximately 8.60%, while the annualized real yield was 4.09%. Despite the challenges in transaction volume, NEAR experienced an uptick in address activity. The average daily active returning addresses increased by 7.27% QoQ, and the average daily new addresses rose by 11.06%.  TVL Rises, Liquid Staking Sees Increase The report also highlighted a concerning trend in developer engagement. NEAR saw a significant drop in its weekly active core developers, decreasing by 41.28% from 177 to 104. Similarly, the number of weekly active ecosystem developers fell by 19.70%, from 286 to 230.  In terms of decentralized finance (DeFi), NEARs Total Value Locked (TVL) recorded a modest increase, ending Q3 at approximately $251.44 million, which is a 7.63% rise from the previous quarter.  Related Reading: Storm Ahead? Bitcoin Price Could Tumble 20% Due To M2 Supply Concerns Notably, NEARs liquid staking TVL also grew by 9.85% QoQ, reaching around $279.66 million. The LiNEAR Protocol accounted for a TVL of approximately $145.14 million, while the Meta Pool saw a 12.70% increase, totaling around $126.61 million. At the time of writing, the NEAR token is trading at $6.745 and has seen substantial gains of 27% and 46% in the fourteen and thirty day time frames respectively, while on a year-to-date basis it has seen a massive 266% surge.  Featured image from DALL-E, chart from TradingView.com

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NEAR Protocol 2025 Price Prediction: Can It Reach New Heights?

NEAR Protocol has received massive attention on social media platforms and the expected price of the token in 2025 is still being debated. In a recent YouTube video, Cheeky Crypto laid out a detailed analysis of how high NEAR could go in the next couple of years. Applying Fibonacci retracement and Elliott Wave theory, the […]

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