NEAR Price Prediction for 2023 and 2024, $50-$100

NEAR Protocol Current Price $2.08 (227.60 INR)

Price Statistics

Near Protocol price:                          $2.08 (227.60 INR)

Near Protocol Rank:                         30

Market Cap:                                         $1.77B (143.87B INR)

Near Protocol Volume:                    $362.51M (29.46B INR)

NEAR Protocol: An Overview

The Near Protocol is a PoS blockchain based on Layer 1. It offers speedy transfers (nearly 100,000 transactions per second) cost-effectively. In comparison with the other blockchain platforms, NEAR Protocol’s speed and low prices attract consumers. To carry out swift scaling, the platform utilizes Proprietary Sharding Technique. The developers of Near Protocol are very friendly and assistive. In addition to this, the protocol is carbon neutral which is advantageous for the climate.

Near Protocol uses Rainbow Bridge to connect to the Ethereum Blockchain, facilitating the consumers to interact with Ethereum. That is not all as the platform also has compatibility with the Ethereum apps. For that, it utilizes, Aurora Layer-2, enabling the Ethereum-based applications to be released on NEAR.

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Near Protocol Tokenomics

The blockchain of Near Protocol is based on Layer 1. The purpose of this blockchain is to eradicate the limitations experienced by blockchain forums. This takes into account the improvements made to decreased throughput, weak interoperability, and low transfer speed. The local token of Near Protocol is NEAR. There are 1 billion NEAR tokens in the cumulative supply of the platform. 84% of the supply is allocated for circulation.

The NEAR token’s fundamental use cases are discussed below:

• The consumers on the Near Protocol can utilize the NEAR tokens to recompense their charges on the platform.
• Users can utilize NEAR tokens in the form of collateral for the data storage on the Near Protocol.
• Customers can stake their NEAR tokens to get rewards.
• The holders of NEAR tokens can also take part in the governance process of Near Protocol.

Near Protocol Price Prediction

In advance of anticipating if the NEAR token’s price will rise or decrease in the coming time, it would be helpful to look at an overview of its history during some of the recent months. The movement of the token’s price in recent months can provide a better understanding of how it will react in the future.

In line with the context of NEAR’s price movement for the previous year, the crypto asset does not show a quite promising outlook. A year ago, the price of NEAR stood at $15 (1,219 INR). However, the crypto token has gone through a steady decline throughout the year. Eventually, the price of the crypto token is standing at $2.08 (227.60 INR). As per the statistics, the token has experienced an 80% slump in its value up till now.

In addition to this, several other apps and abrupt price movements disturbed the Near Protocol during the whole year. Thus, could not hold on to its price rally for much longer whenever there appeared an opportunity. Even, the NEAR token touched its all-time high value during the same time. The price of the token plunged by 50% just in the previous three months.

Only 3 months ago, NEAR stood at the $3.51 (285.31 INR) mark. Nonetheless, it kept on consistently dropping till it reached $1.2 (97.54 INR). This is the lowest point of its value. It is noteworthy that $20.18 (1,640.34 INR) is the all-time high price of the NEAR token. The token touched this spot back in 2022’s January. After that time, the token started slumping and the present price thereof is $2.08 (227.60 INR).

Nevertheless, some recent days have seen an increase in the token’s price. After dropping from $1.69 to $1.56 (126.81 INR) in the previous month, NEAR has risen to a great extent. In this way, the price of NEAR is anticipated to grow in the future.

FAQs

What is Near Protocol?

NEAR Protocol is an open blockchain based on a proof-of-stake consensus mechanism. It targets to provide decentralized finance (DeFi)-related services to the public cost-effectively with rapid transfers. A few of the platforms competing with NEAR Protocol take into account Algorand, Cardano, Solana, Avalanche, and Ethereum’s post-Merge Version.

Can Near Protocol Price Reach $10?

To touch the price of up to $10, NEAR Protocol requires growth of up to 5 times as its present price is $2.08 (227.60 INR). It should be noted that an all-time high price was reached by the token in 2022’s January when it touched the $20.18 mark. That was the point when it gained an 11.59 times price upsurge in only 6 months. Just 6 months before that time, in 2021’s July, the NEAR token stood at $1.74. Therefore, the token witnessed half-price progress of 1.93 times per month.

NEAR only needs jumping by 5 times to get to the $10. After the FTX collapse, the market witnessed a great bear market. Nevertheless, the beginning of this year has impacted crypto assets positively. Simultaneously, the NEAR token has also seen a beneficial impact in terms of its price. However, currently, the crypto market has not gotten rid of crypto winter thus the coming time will hopefully see more progress.

Can Near Protocol Price Reach $100?

A 50-times upsurge in the price of the NEAR token is needed to reach $100 because it is presently standing at a very lower level at $2.08 (227.60 INR). While focusing on that, there is a requirement of up to 50 times to cross the $100. The current progress of the crypto market is positively elevating the token’s price. With a per-month 2-time growth, the token can reach $100 in 2 years. However, irrespective of the present favourable market conditions, it is not sure if NEAR will touch $100 at that time. Hence, it seems unlikely for NEAR to reach the $100 mark.

Where and how to Purchase Near Protocol Tokens?

The procedure for purchasing Near Protocol tokens is discussed below:

1. Firstly, look for the crypto exchange on which Near Protocol coins are listed
2. Then create your account on that exchange platform
3. Provide credentials to validate your identity
4. Place funds in the wallet allotted by the exchange
5. Buy using funds in the wallet

Several prominent exchanges have listed Near Protocol coins. Crypto.com, and Binance, are the most famous among them.