NEAR
is the second altcoin that is set to see a stunning rally.
Specifically, NEAR is the native token of Near Protocol, a Layer-1 blockchain launched in 2018. The platform allows developers to create and launch decentralized applications (dApps).
He claims that Near Protocol has gained significant traction in the first half of 2024 due to the increase in network activity. This is reflected in the surge in Near Protocol’s TVL, which has soared from $90 million in January to $324.5 million this month.
In addition, Cody said that the network’s transaction volume has grown rapidly since the beginning of the year. He speculated that Near Protocol’s growing network activity indicates that the project has more inflows than outflows. He attributed this development to users’ continued optimism and confidence in the cryptocurrency.
At press time, NEAR is trading at $5, down 2.7% on a daily basis. The coin has a market cap of $5.47 billion, making it the 20th largest cryptocurrency.
