NEAR has the ability to explode more than 150% in a short time
In a new video, Turner told the 2.41 million Coin Bureau subscribers that the Layer-1 blockchain native token NEAR Protocol (NEAR) could increase by approximately 151% if the current conditions driving the uptrend persist in.
“If demand-side momentum continues, NEAR could surge as high as $8 in the short term, consistent with a bull flag pattern that appears to be forming on the weekly frame and resistance from the crypto market Previous growth was also around $8.
The fact that NEAR only has a market capitalization of around $3.5 billion means it has a lot of room to grow compared to other Layer-1 blockchains.”
NEAR is trading at $3.85 at the time of writing, up about 240% from its October 2023 low of $0.971.
“The total number of NEAR wallets is approaching 100 million, the number of daily active wallets is approaching a million, and the number of daily transactions has increased parabolically since last September…
On top of that, the total value locked (TVL) in NEAR's decentralized finance protocols is also starting to increase rapidly.”
TVL refers to the amount of capital deposited in a protocol's smart contract and is often used to assess the health of the cryptocurrency ecosystem.
In the long term, Turner said NEAR could reach even greater heights.
“If NEAR follows Solana from the previous bull market, it could increase more than 20 times in this bull market. But make no mistake, it won't 'just increase'."
