Ethereum (ETH) Challengers are skyrocketing after good investors have poured hundreds of millions of dollars into crypto projects.
Near Protocol (NEAR) has raised $ 350 million, led by tech investment firm Tiger Global, according to a new Bloomberg report. That’s almost double the amount of money you earned from funding just three months ago.
NEAR is a Layer 1 blockchain network and Web3.0 development platform aimed at solving problems related to compatibility and limited throughput. It is also a hub for decentralized application development.
Institutional news sent near protocol flying tokens. Cryptocurrency price tags have risen by a staggering 32% from the 24-hour low of $ 14.73 to $ 19.52 in just one day.
Since then, NEAR has been stable, trading for $ 19.12 at the time of writing, but still above 22%.
Financing, according to Bloomberg, means that investors see NEAR as a potential foundation for the future of the decentralized web.
Amos Zhang, a partner at venture capitalist MetaWebVC, said the latest round of funding suggests that investors “feel that NEAR is one of the protocols that can take over the world.” I told Bloomberg.
The global investment giant Digital Currency Group (DCG) has also collected a significant collection of Near Protocols.
DCG CEO and Founder Barry Silbert To tell His 742,000 Twitter subscribers are NEAR, the company’s third largest crypto holding, second only to its major crypto asset, Bitcoin (BTC), and its top smart contract platform, Ethereum.
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Featured images: Shutterstock / Rakesh9966 / Natalia Siiatovskaia