Near Price Up By 0.32% – Time to Buy NEAR?
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- Investors are keen to buy NEAR following a recent partnership of the layer-1 protocol with blockchain analytics firm, Elliptic.
- Near Protocol launches Pagoda – the world’s first Web3 startup platform
- Multichain combines forces with Near Protocol to enable a more seamless exchange of digital assets across several blockchain platforms.
The crypto market shot up to prominence in 2021 following a 5x growth in the nascent industry. The premier digital asset, Bitcoin, led this charge pushing the blockchain-based assets nearly to $3 trillion in one year. The broader crypto market has shed off over $500 billion in net volume this year. However, this is rapidly changing as few protocols like Near show resilience, spurring investors to buy NEAR.
The layer-1 smart contract platform comes with several benefits including zero carbon emission as well as a scalable blockchain protocol. Adding to this, Near Protocol serves as a building hub for several decentralized applications (dApps) interfacing in the new decentralized finance (DeFi) ecosystem.
While currently outgunned by the foremost smart contract network, Ethereum, Near Protocol is still one of the most promising smart contract platforms trading at a discount. This makes now a great time to buy NEAR and rise with the market.
Near Partners With Elliptic
The decentralised nature of digital currencies makes it difficult for transactions to be tied to one user. This loophole has frequently been exploited by users of questionable character and has seen regulators criticize the innovative technology.
However, efforts are being made to help regulators nail down illegal transactions and money laundering. One of the top blockchain analytics firms, Elliptics, has recently partnered with the Near Protocol. Contained in a blog post, the union is expected to boost security and on-chain forensics. This will see the Near Protocol tap into Elliptics’ industry-leading blockchain analytics expertise and financial crime monitoring solutions.
Near CEO Marieke Flament notes that the carbon-neutral protocol’s core mission is to onboard billions of users into the Web3 ecosystem while creating a safe and secure environment for all.
Security has remained a critical bottleneck in the broader crypto space. Near Protocol’s proactive approach to this challenge could make now an ideal time to buy NEAR.
Pagoda Launches With Wide Aplomb
Blockchain solutions are popping up by the day, and each iteration is fixated on meeting a particular need. Realising the dearth of a startup platform for Web3-focused companies, the Near Protocol has seized the initiative.
In a blog post, the blockchain protocol announced the launch of the world’s first Web3 startup platform called Pagoda. Pagoda is expected to provide tools and structural frameworks suitable for the Web3 ecosystem. All tools would be integrated into a single simple interface, allowing blockchain developers and entrepreneurs to easily move from ideation to execution in hours as against days.
Multichain Joins Forces With Near
Adding to an impressive fundamental list, Near Protocol has recently joined forces with multi-chain solution, Multichain. According to a tweet, the partnership is expected to facilitate easy transfer of multi-chain assets and enable communication between the Near protocol and other networks.
Growing adoption points to a network’s relevance. This makes now a great time to buy NEAR.
Technical Analysis of NEAR – A Bull Run In The Horizon?
The broader crypto market is on a rollercoaster with the bulls and bears facing off. However, NEAR token shows resilience. The digital asset is currently trading on par with the 50-hour exponential moving average (EMA) price of $11.29. This points to a likely upward push in the coming days. A daily gain of 0.3% and a weekly gain of 33.82% are strong indicators for investors to buy NEAR and rise with the market.
The moving average convergence and divergence (MACD) indicate that NEAR is trending on the buy signal, while a relative strength index (RSI) figure of 54.81 shows that NEAR is trading in the underbought region.
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