The global crypto market has been generous enough for emerging protocols and its native assets. A number of sprouting protocols have managed to establish their reign in the industry. One such is the Near Protocol, which has been growing in prominence. The network’s traits such as higher transaction speeds, climate neutrality, and lower transaction fees have been adding feathers to its superiority
NEAR is the native asset of the Near Protocol, which is used for activities like completing transactions on the network. For participating in the staking procedures and governance procedures, amongst others. The altcoin boasts an ROI of 1163.58%. Are you considering NEAR for your portfolio, but doubtful of its returns? Look no further, as we decode the plausible price prediction of NEAR for 2022 and beyond!
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NEAR had made its way to 2022, whilst trending sideways with a price tag of $14.248. While the digital coin brought in a single-day spike, to break out of the resistance at $15.210 on the 3rd of January. The peaks at $17.558 were short-lived, as it encountered a pull-back to $13.218. Between the 9th and 14th of January, the altcoin rose by 55.05% to hit $20.869.
After running sideways until the 3rd of February, NEAR portrayed a leg-up to $14.468 by the 7th of February. However, turmoil in the business coming from geopolitical tension between Russia and Ukraine, and anxiety around rate hikes. Dragged the price down to the quarterly bottoms at $7.405, which was on the 24th of February.
The NEAR token had initiated an uptrend from the 28th of February. Which escalated the price to its quarterly closure of $14.321.
Near Protocol’s (NEAR) Price Prediction For Q2
If the crypto asset constructs on volumes from its current levels at $15.15. The price could establish firm grounds at $17.338. Rising from this could push the price to a new ATH at $21.679. While regular buying and selling pressures could land the price at $17.632. On the other hand, depleting volumes and a lack of interest amongst traders could bring the price down to $14.101.
NEAR Forcast For Q3
The altcoin could set the charts ablaze, provided the developmental initiatives such as Nightshade Sharding, and decentralization for Web 3.0. Manage to bring in mass adoption over the course of time. Wherefore, the NEAR price could propel to its potential high of $28.742 by the end of the quarter.
Conversely, the protocol not adhering to its expectations, which leads to sell-offs could land the price at $19.103. That said, a linear price projection could take the price to $24.916.
NEAR Prediction For Q4
Developmental and community building initiatives alongside positive social sentiments could further drive the price in the fourth quarter. Which could pave the way to its maximum trading value of $34.407. Whilst a balance in trade activities could take the price to $30.520. Bears outweighing the bulls could clutch the price down to $22.877.
Near Protocol’s Price Forecast For 2023
Continuing a bullish stance with supplementing catalysts such as scalability, transaction throughputs, decentralization, and lower transaction costs could increase transaction volumes. Which could push the price to $57.012. On the flip side, an ebbing userbase and a possible market dump could slash the price down to $32.174.
Price Prediction For The Next 5 Years
Growing environmental concerns and the need for decentralization could be imperative in the price action of NEAR. As it could bring in a spike in adoption and alliances, this could impart impetus to NEAR’s move to $82.262. On the other hand, negative criticism and emerging potential rivals could drag the price down to $43.581.
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|Next 5 Years||$43.581||$82.262|
What Does The Market Say?
According to Wallet Investor’s price forecast. The price of the digital asset could hit a potential high of $25.586, by the end of 2022. The prediction from the firm expects the minimum and maximum targets to fall at $19.95 and $22.281. Wallet Investor has also made forecasts for the long term. It expects the price to hit a maximum of $54.798 by the end of 2025.
Digital Coin Price:
As per the prediction of Digital Coin Price. The NEAR price could end its trade in 2022, with a maximum price of $21.10. The firm has set minimum and maximum targets for the year at $18.53 and $19.70. That said, the maximum closing targets for 2023 and 2025 are pinned at $23.87 and $31.09.
Price Prediction expects the altcoin to claim an average price of $15.98 by the end of 2022. The analysts from the company anticipate the minimum and maximum price targets to land at $15.43 and $17.45. The forecast has set the maximum closing targets for 2023 and 2025 at $27.09 and $53.27.
To read our price prediction of Maker DAO (MKR) click here!
Near Protocol is a decentralized network, which employs the Proof-of-Stake (PoS) consensus mechanism. The network is a climate-neutral, high speed, and low transaction fee, layer-1 blockchain. Which aims to create an ecosystem, that is scalable and accessible to a broader audience.
The blockchain also intends to solve the limitations such as low transaction speeds, interoperability, and throughput, among others. The Near Protocol works in compliance with Ethereum, Polkadot, Cosmos, and more. Which enables the linear flow of assets and communication between the networks.
The network employs its sharding tech, which is known as the Nightshade. The network has been using Doomslug, which provides solutions to the scaling problems.
Near Protocol was founded by Alexander Skidanov, and his co-founders Illia Polosukhin and Erik Trautman. Alexander Skidanov is a computer scientist, who had previously worked for Microsoft and went on to join memSQL. Illia Polosukhin had worked as a lead contributor for TensorFlow at Google. Erik Trautman holds experience in Wall Street and is also the founder of Viking Education.
The Near Protocol’s mainnet went live in the April of 2020. The validators voted to unlock token transfers in October of 2020. The network is a community-driven cloud infrastructure, which is used for the deployment and operation of dApps. The protocol offers both a decentralized database and a server-less computation platform.
NEAR is the ecosystem’s primary native asset. It is used to complete transactions and store data. Alongside participation in the staking procedure and governance procedure. The total supply of NEAR is capped at 1 Billion tokens. While the current circulating supply is at 674,853,202.
Our NEAR Price Prediction
According to Coinpedia’s formulated price prediction of NEAR. The digital asset could escalate to its potential high of $35, by the end of 2022. Provided it seeks impetus from initiatives such as Nightshade sharding and decentralization for Web 3.0. On the flip side, the price could find support at $22, if it loses out on steam, amidst stiff competition. That said, its climate-neutral traits could push the price to $80 in the next five years.
Historical Market Sentiments
The month of August marks the formation of the Near Protocol. When the founders had called for a team to create a scalable, fully sharded, and permission-less blockchain.
Near Protocol’s first phase of Near’s multi-stage mainnet, which hosted PoA was rolled out on April 22nd. It was in September of the year when phase-1 marked the on-boarding of 3rd party validators. The first known trade value of NEAR was $1.072, which was seen on the 14th of October. On the same day, the wick had brushed levels of $1.884.
The spike was short-lived as the asset took a downswing. Which led to the price finding support at $0.538, by the 5th of November. Followed by a leg-up the altcoin closed its annual trade at $1.459.
The year 2021 was initiated with an uptrend at a starting price of $1.305. A single-day spike of 43.69%, helped the price reach the peak at $5.419, by the next day. A pullback took the price to $2.586 by the 23rd of February. However, the digital asset managed to climb up to its new ATH of $7.572, by the 13th of March.
After a slip to $4.52, on the 25th of March, the price rose back to $7.381 by the 12th of April. It was in April when the Rainbow bridge connecting Ethereum and NEAR blockchains was launched. The price of NEAR saw a steep plunge to $4.057, by the 24th of April. Thereafter the price rose to $7.29 by the 15th of May.
A prolonged downswing took the price took the price to $1.537, by the 19th of July. An inclining ascend took the price to $11.776, by the 9th of September. After a pullback to $6.495, by the 30th of September, an uptrend escalated the price to $13.168, by the 26th of October. However, bearish trends dragged the price to $10.192, by the 31st of October.
November 15th marked the launch of “Nightshade” sharding when the price was seen at $12.046. After turbulent weeks, the NEAR token saw an 82.50% rise from the 22nd of December, to $16.64. Following this, the annual trade was closed at $15.793.
Click here to read our in-depth price prediction of Cosmos (ATOM)!
A: The protocol promotes the network of computers running a platform for developers to create and launch dApps.
A: NEAR is listed across major cryptocurrency exchange platforms such as Binance, OKEx, ByBit, and DigiFinex, amongst others.
A: The ATH of the digital asset was hit at $20.42.
A: The price of NEAR could possibly rise to $34.407, by the end of 2022.
A: The digital asset could rise to its maximum trading value of $82.262, by the end of the next five years.