Near Protocol prices are trending upward as the ecosystem continues to grow. The coin is trading at $17.12, which is about 130% higher than its lowest level in February. Its market cap has surged above $11.35, making it the 17th largest cryptocurrency in the world.
close to ecosystem growth
Near Protocol is one of the largest blockchains and aims to be a leader in the industry. The network is currently transforming into a fully sharded platform. Sharding is a complex process that divides blocks into smaller pieces called shards. Therefore, this process helps to improve the overall throughput.
April is a successful project of Near Protocol. On one hand, developers have raised more than $350 million from investors. These funds will be used to grow the ecosystem by providing grants to developers and hiring more developers. The new fundraiser comes just months after the developer raised another $150 million.
The price of Near Protocol has also increased due to the continued growth of the ecosystem. According to DeFi Llama, the network’s total value locked (TVL) has risen to over $1.4 billion. Near itself’s TVL has risen to $476 million, while Aurora’s TVL has jumped to over $960 million.
NEAR rose sharply on Tuesday after Ref Finance’s TVL jumped to more than $200 million. It is up 14% in the past 24 hours and 52% in the past seven days. This makes it the largest application built into the Near protocol. Other applications in the network also saw strong growth in TVL. For example, Burrow rose to over $143 million, while Meta Pool rose to over $143 million.
Near Protocol Price Prediction
The daily chart shows that NEAR prices have been in a strong bullish trend over the past few months. Along the way, the coin has developed a pattern that looks like a cup and handle. This pattern usually signals that the bullish trend will continue.
It also broke above the 25-day and 50-day moving averages. The coin also rose above the uptrend line shown in brown. Therefore, Near Protocol price will continue to rise as bulls target all-time highs at $20.50.