NEAR Protocol Price Up by 16% – Time to Buy NEAR?

• ChainScore brings multi-chain credit data to de-risk DeFi on NEAR protocol, providing more use cases for the blockchain and motivating investors to buy NEAR
• Crypto market down by 0.89% over the last day with a market cap at $1.98 trillion
• NEAR goes green with CannaDAO

Near Protocol currently shines as the rodeo star as the asset takes on bulls in a vertical bearish market, giving investors reason to buy NEAR. The Near native token is trading in the opposite directing, charging against bears in a steady momentum towards new highs.

The BSC-based token is thrilling investors as it trades in contrast to the entire crypto market, which is down by 0.89% in the last 24 hours and has a depreciative market cap of $1.98 trillion.

The Near Protocol is a layer-one blockchain designed to eliminate the limitations hindering competing blockchains, such as low transaction speed, low output and poor interoperability.

The Near protocol is especially unique as the blockchain uses Nightshade, a variation of sharding where sets of validators process transactions in parallel across multiple sharded chains, which improve the overall blockchain.

The crypto asset has made very impressive gains over the last few days and has amassed up to 16% in profit for investors over the last 24 hours.

The blockchain is making radical improvements and connections to foster growth in the crypto space. As investors resolve to buy NEAR, these adjustments and improvements are catalysts for the asset’s price hike in the coming weeks.

ChainScore partners with NEAR to de-risk DeFi on the NEAR Blockchain

ChainScore, a credit scoring protocol for DeFi, has received a grant from the NEAR Foundation to launch a scorer network for dApps on NEAR Protocol. The partnership is geared at providing reliable credit data across the NEAR blockchain. The partnership will include the delivery of credit scores, risk ratings and user analytics.

The de-risk measure would potentially help to prevent many issues in DeFi, such as undercollaterisation and help protocols differentiate users based on their risk portfolio, and offer even lower credit rates for low-risk users.

The ChainScore data is set to open opportunities for building sustainable markets that can minimise risks on Near Protocol.

NEAR backed CannaDAO aims to tokenise the cannabis industry

CannaDAO, a decentralised autonomous organisation for cannabis, aims to tokenise the cannabis industry with a permissionless member-governed on-chain platform.

The organisation is offering the opportunity to weigh in on the cannabis industry by deciding on what the future holds for cannabis, leading educational programs, funding scientific research towards cannabis usage and engaging in decentralised investments that are inaccessible to non-privileged individuals and lots more.

The CannaDAO is being powered by the NEAR blockchain as the NEAR Foundation strongly believes in the power of communities and self-governance.

The decentralised organisation wants to build a sustainable model for society and the environment. The NEAR protocol is the greenest blockchain with a mantra to being carbon-neutral.

NEAR Technical Analysis

The chart shows that the NEAR crypto is on a strong bullish trend and is above the 23.6% Fibonacci retracement level of $14.38 as the asset trades at $16.4.

Investors who bought NEAR when the asset was trading just around the 61..8% Fibonacci retracement value of $9.14 are sure to have raked in almost 80% in profits.

NEAR is currently trading above the 100-hourly Simple Moving Average (SMA) value of $10.5. The 50-day Moving Average Exponential value of $12.4 indicates that NEAR is indeed bullish.

NEAR is sure to move to higher support and resistance prices if the asset retraces at the 50% Fibonacci retracement level of $11.8, as previous trends indicate.

Investors looking to buy NEAR can hold off till the asset retraces at the 50% level and starts to bounce off from there.

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