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Information about NEAR Protocol (NEAR)
NEAR Protocol is a decentralized blockchain network launched in April 2020 and developed by Alex Skidanov, Illia Polosukhin and the Near Foundation. Near Protocol was created to help developers easily create decentralized applications (DApps) and maintain scalability. NEAR Protocol works on a Proof-of-Stake (PoS) consensus mechanism and uses a scaling solution called Nightshade, which aims to create a highly scalable and cost-effective platform.
The NEAR Protocol network uses a Sharding structure, designed to solve problems related to system design. This structure allows users to create scalable decentralized applications (Dapps) and operational governance structures, evolving the protocol continuously so that it does not become obsolete.
NEAR Protocol (NEAR) is a utility token of the NEAR Protocol ecosystem and is used for the following purposes:
News
NEAR is attempting to reclaim a critical support level after trading within a consolidation channel. Currently priced at 3.38 USD, NEAR’s recent 3.80% decline continues its overall downward trend.
Mixed market indicators reveal a negative funding rate of -0.0170, suggesting confidence in a price decline. Moreover, a significant disparity in liquidation values indicates bearish control, despite some bullish signs in the Taker Buy-Sell Ratio.
A notable decline in Daily Active Addresses from 4.2 million to 3.0 million adds downward pressure on NEAR, suggesting reduced network engagement and potential for further selling.
On the eve of Valentine’s Day, Andrew Krynin unintentionally revealed nude images on a livestream, which coincided with a rise in the NEAR token’s price. The Near Protocol team humorously noted the need for better personal device separation.
The Near Protocol team issued a formal apology for the incident and Krynin later expressed his regret publicly, especially towards his girlfriend, while reassuring women that such a situation doesn’t indicate disrespect.
The market cap for AI crypto coins surged to 70 billion USD by November 2024, fueled by Trump’s massive 500 billion USD investment. This investment has notably boosted low-cap AI coins, leading to a 15% increase in just 24 hours.
Despite the impressive growth, the AI crypto sector faces challenges due to volatility and Bitcoin’s dominance, with Bitcoin’s market share down by 7%. Tokens like NEAR Protocol show potential, but the market must adapt to changing conditions for sustained success.
The latest performance update indicates that NEAR cryptocurrency has gained 6.3% recently, reflecting positive movement in the market. The CoinDesk 20 index, which includes NEAR, also showcases a strong upward trend since Thursday, signaling a buoyant market for this digital asset.
This performance update provides valuable insights into the ongoing dynamics of the cryptocurrency market. The favorable movement of NEAR and the CoinDesk index highlights a possible shift in trader sentiment and confidence in these assets, offering a glimpse into future trends.
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