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What is Near Protocol and what is NEAR coin?
Near Protocol is a layer-1 blockchain network designed to address issues that have slowed down established blockchains. It leverages sharding, a process that splits its network into several segments to handle a fraction of the network transactions.
By distributing segments of its blockchain, Near Protocol has achieved high transaction speeds, high throughput, and low transaction costs. Its blockchain can process up to 100,000 transactions per second and near-instant transaction finality.
Sharding has also allowed Near Protocol to create a more efficient way of scaling the platform and retrieving data. Conversely, it has emerged as a preferred platform for developing decentralized applications.
NEAR is the proof of stake cryptocurrency that powers the network and acts as a medium of exchange. Users can use the token to pay transaction fees, run applications, and pay for storage.
Applications running Near Protocol blockchain pay storage fees using NEAR token. These tokens are, in return, burned or eliminated from circulation, thus reducing the overall supply. Near Protocol increases NEAR supply by 5% every year, with 90% of released tokens going to network validators.
The maximum number of NEAR tokens that will ever be in circulation is capped at 1 billion. There are about 677.4 million NEAR tokens in circulation with a 10.5 billion market cap. The total value of NEAR tokens locked in DeFi stands at $374 million.
Should I buy Near protocol coin today: NEAR market sentiment
NEAR coin has been one of the best performing cryptocurrencies when the broader cryptocurrency market has been under pressure. The coin is up by about 2% year to date on other cryptocurrencies posting double-digit percentage losses.
Since February, the coin has been trending up with technical indicators affirming buyers in control. The coin is trading above the 200-day moving average, affirming bullish momentum. Similarly, the Relative Strength Index indicator has risen above the 50 level, signaling a buildup in bullish momentum.
However, in recent days the coin has resorted to trading in a tight trading range, affirming consolidation after a 100% plus rally since February. NEAR remains well supported for further upside action above the $15 area. A break followed by a close above the $18 a real resistance level should pave the way for the coin to make a run for its all-time highs of $20.
While the coin is currently trading in a range, any pullback to the support area would present an ideal entry point to buy the token at a discount. With the overall cryptocurrency market turning bullish, NEAR could post significant gains in the near term.
What Is Near protocol NEAR price prediction for a year?
NEAR coin has been bullish for the better part of the year, posting significant price gains even on other cryptocurrencies remaining under pressure and edging lower. A 100% plus rally in the first quarter affirms the upward momentum. Consequently, the coin remains well-positioned to continue rallying heading into year-end.
Analysts at digitalcoinprice.com expect the Near Protocol coin to average $20 a coin for the better part of the year and could rise to all-time highs of $21.74 before year-end, representing a 40% plus gain from current levels. Analysts at Walletinvestor.com, on the other hand, expect the coin to reach an all-time high of $25.18 before year-end.
What is Near protocol NEAR price prediction for 2025?
Increased adoption of the Near Protocol blockchain in the development of decentralized applications is one factor that should continue to fuel demand for NEAR coin going forward. Higher demand should support a significant uptick in price over the next three years.
According to prediction on digitalcoinprice.com the coin could rally to record highs of $33 a coin by 2030, representing a 120% plus gain from current levels.
What is Near protocol NEAR price prediction for 2030?
Near Protocol coin’s long-term outlook is even more bullish amid heightened expectations of blockchain adoption in the mainstream sector. Consequently, the NEAR coin could appreciate to record highs of $73 a coin by 2030, representing a 386% price gain from current levels according to digitalcoinprice.com forecasts.
Estimates on Walletinvestor.com income also indicate the NEAR coin could be worth more than $63 a coin in the next five years.
Near Protocol NEAR FAQ
Will the Near Protocol coin appreciate in a year?
The prospects of the NEAR coin appreciating over the next year are high as the coin has started edging higher following minor corrections from all-time highs.
How much will NEAR be worth in 5 years?
NEAR coin could be worth more than $50 a coin over the next five years, according to immediate estimates and forecasts.
Where do I buy NEARToken?
NEAR coins can be bought in various cryptocurrency exchanges, including Binance, Huobi Global, and OKEx.