Near Hits All-Time High as Layer -1 Blockchain Competition Heats Up

The cost of NEAR, the native token of Near Protocol, has actually increased and struck a brand-new high of $17.28 on Tuesday.

The token has actually a little backtracked considering that. Still, the token is up 15.3% in the previous 24 hours, trading at $16.84 by press time, per CoinGecko.

NEAR is a clever contract-enabled blockchain that utilizes a proof-of-stake (PoS) agreement system and an innovation referred to as sharding to boost the network’s scalability and lower deal charges.

The property’s newest cost action comes amidst a flurry of activity around the task in current weeks.

The newest significant combination was revealed on Monday as Synapse Protocol, a DeFi crypto exchange and cross-chain bridge, appeared on Aurora, a virtual maker that lets Ethereum designers quickly develop on Near Protocol.

Last month, the group behind the procedure likewise revealed the combination of UST, Terra’s U.S. dollar-pegged stablecoin, paired with numerous reward projects focused on enhancing the stablecoin’s liquidity.

Other collaborations and combinations consisted of DeFi tasks like DePocketFinance, CraftingFinance, and EndlessFM, all assisting the procedure’s token cost rise by 95.2% over the last 2 weeks and as much as 110% in the last month.

With a market capitalization of simply above $10 billion, NEAR is presently the marketplace’s 23rd-largest cryptocurrency.

Fantom, Harmony, Tezos sign up with layer-1 rally

Fantom (FTM), the native token of the eponymous Ethereum- suitable layer-1 blockchain, is another leading gainer of the day.

FTM is up 15.3% over the day and is trading at $2.88. Stepping back, and the gains have actually been continuous: the token has actually increased a significant 109.6% in the last 2 weeks, per CoinGecko

According to information offered by blockchain analytics company Santiment, the variety of Fantom’s active addresses has actually grown to levels last seen in late November, improving the overall worth locked (TVL) throughout the Fantom community to a brand-new record high of $5.86 billion.

Elsewhere, numerous other layer-1 tokens are on the increase, too, with the similarity Harmony (ONE) and Tezos (XTZ) publishing gains of 8.3% and 8.2%, respectively.

All of these tokens have actually led today’s sideways market, recommending speculators are wagering huge on a multi-chain future in 2022.



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