The project is considered fundamental, and based on tokenomics and historical data, there is a potential for significant growth, even matching a 10x increase during the peak of the next bull run.
Despite recognizing the project's potential and fundamental qualities, I prefer to focus on fresher Layer 1 blockchains that employ the latest technologies, such as Aptos and Sui. I award NEAR Protocol a score of 4.
The NEAR Protocol, launched on April 22, 2020, has achieved significant milestones in its journey. Initially listed at $1.35 on October 14, 2020, it has since climbed in rankings to reach #33, boasting a market capitalization of $2 billion and a current price of $2.33. At its all-time high, NEAR reached an impressive $20.09.
With a limited token supply of 1 billion, the majority of NEAR tokens, accounting for 86%, are already in circulation. The project attracted notable investors during its ICO, including Electric, Pandora, A16Z (Andersen Horowitz), Coinbase, and over 20 other companies, raising $50 million in the process.
NEAR Protocol recently secured an impressive $350 million in funding in 2022, led by Tiger Global, with participation from Republic Capital, Hashed, FTX Ventures, Dragonfly Capital, and others. This new funding aims to enhance NEAR's presence by increasing the number of regional hubs globally.
Official site: https://near.org/
DYOR. Not financial advice. Show Less
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