NEAR Protocol (NEAR) is up 40% In the Last 24 Hours despite market pull-back: A very strange day for Bitcoin today. The crypto market was highly optimistic with BTC nearing $53,000, and yet, in a matter of hours, Bitcoin had its worst crash in months.
During the crash, many major cryptos suffered losses, pushing lower after BTC decreased significantly in a relatively short period. However, NEAR Protocol surged even though some digital assets were all red.
The open-source platform that accelerates the development of decentralized applications (DApps) is in a bullish mode in the last 24 hours. NEAR Protocol surged from $6 yesterday to around $9 today. Thus, it means the token rose by over 40.20% in the past 24-hour period.
Moreover, with a 24-hour trading volume of $1,720,054,645, NEAR Protocol gained 41st place, making it to the list of top 50 largest cryptos by market cap. Currently, it has a circulating supply of 449,669,568 NEAR coins and a maximum supply of 1,000,000,000 NEAR coins.
NEAR Protocol is a DApp platform that runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade. In addition, it aims to provide scalability and stable fees. What is more, the project claims to be a climate-neutral, high-speed, and low transaction fee Layer-1 blockchain platform.
We are ending the second week with close to 3.2 million NEAR tokens in Total Value Locked (TVL).The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.