NEAR Surges 20%: 5 Reasons for Bullish Outlook by Pantera Capital
NEAR, the native token of the NEAR Protocol, has surged 20% to a one-month high. It is now trading at $5.93, up from a low of $4 on July 5. This surge has pushed NEAR to the 19th spot among the top 100 cryptocurrencies.
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Here are 5 reasons why Pantera Capital is bullish on NEAR:
. Scalability Solution
NEAR addresses the scalability issues faced by Bitcoin (BTC) and Ethereum (ETH).
It uses Thresholded Proof of Stake (TPoS) and Nightshade sharding for better scalability and decentralization.
NEAR has reached $335 million in Total Value Locked (TVL), a 547% increase in six months.
. User and Developer Engagement
NEAR focuses on a user-centric approach and developer-friendly environment.
Significant growth in key metrics:
42% increase in daily active addresses.
Transactions surged from 35 million to over 220 million.
Monthly active users grew from 2.9 million to 15 million.
. Crypto AI Integration
NEAR is integrating AI through an open and decentralized framework.
It emphasizes user control over data and assets.
Part of Grayscale’s AI Fund with a 32.99% weighting in the fund.
. Strong Leadership
Co-founders Illia Polosukhin and Alexander Skidanov bring expertise in AI and engineering.
Their leadership has been key in developing NEAR’s infrastructure.
. Potential for Further Gains
Despite its recent high of $5.93, NEAR needs to break above $8.28 to continue its upward trend.
With these advancements and broader market recovery, NEAR may see more gains this year.
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