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Near Protocol (NEAR) posted 15% weekly gains while cryptocurrency market capitalization fell 12% during this workweek. Speculators began to actively buy NEAR 4 days ago, when quotes reached the level of quarterly lows, but the technical rebound that happened was “delayed” thanks to positive corporate news.
From a global investment point of view, Near Protocol can be called an underestimated technology that supports sharding and high transaction speed, capable of competing with Ethereum at the level of projects from the top 10 cryptocurrency ratings.
The platform is powered by a PoS algorithm with smart contracts that developers can deploy to the network in five minutes. At the same time, the possibilities of their code and performance are much higher than on the Ethereum platform with which the Dapps of the Near blockchain are fully compatible. Both networks are interconnected by the Rainbow Bridge, which allows for the smooth movement of tokens in both systems.
NEAR’s growth kicked off early in the week when the token appeared on MoonPay, the most popular app for buying and selling cryptocurrency for retail investors using traditional financial instruments.
The next day Tuesday, the founders of the Near Protocol partnered with the WOO Network. This liquidity provider opened access to institutional-grade trading platforms for utility cryptocurrencies, which led to a sharp increase in NEAR trading volumes.
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