1. NEAR's Passive:
NEAR Protocol is a Layer 1 blockchain that features sharding technology, which enables thousands of transactions per second at low costs. This provides superior scalability compared to competitors such as Ethereum and Solana. Aurora, an Ethereum-compatible bridge, allows projects to easily integrate into NEAR, attracting many DeFi, NFT, and gaming projects. Support from grant programs has helped NEAR develop an increasingly rich ecosystem.
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2. Fundamental analysis (FANA):
NEAR is at the forefront of developing the DeFi and NFT ecosystem, aiming to become a comprehensive Web3 platform. Its friendly interface and low transaction fees attract new users and developers. The recent $800 million development fund helps to promote the rapid development of many projects, expanding its global influence.
3. Technical analysis (TA):
Currently, the multi-timeframe RSI is at a strong buy recommendation level, and the RSI indicator is at a buy level.
Besides, near broke the diagonal resistance on H4 and D1 frames and then successfully retested, showing the potential for strong growth like what Sol and Sui did in the past time.
Although it has not had good growth recently like its direct competitors. Near has been almost unaffected by recent retracements, showing a relatively good support level.
Entry : 4.719 - 4.399 - 3.796
City: 5.5 - 7 -7.5 - 9
Sl : 2.6
4. On-chain analysis:
On-chain data shows that NEAR is growing rapidly and steadily in terms of active wallets and transaction value. TVL in DeFi projects remains stable, especially thanks to support from major projects. Improvements in governance and decentralization are helping to increase community trust.
5. Competitors:
NEAR faces competitors like Solana, SUI, and Arbitrum. Solana stands out for its transaction speed but struggles with security and congestion, giving NEAR an opportunity to rise. SUI is emerging with its fast processing and expanding DeFi ecosystem, but NEAR has the advantage of sharding technology and support from a large development fund, solidifying its position in the blockchain race.
Should I buy or not?
Near is a coin with quite a lot of potential. Although it has not grown strongly, with what Near is doing, Near deserves more widespread recognition, like what Sui has done. Of course, the decision is yours 🔥
