NEAR Protocol is a layer-1 blockchain often labeled an Ethereum killer. NEAR Protocol solves common problems in similar blockchains, such as slow transactions, low throughput, and poor interoperability. No wonder the NEAR token attracted much attention when it launched in 2020. The NEAR price rapidly increased after the tokenâs launch but plummeted in the second half of 2022. Will the NEAR price recover in the coming years? We try to answer this question in the following NEAR Protocol price prediction.
What Is NEAR Protocol?
The NEAR Protocol blockchain aims to create a usable, scalable, and accessible ecosystem. It is a community-run cloud computing platform utilizing a delegated proof-of-stake (DPoS) consensus mechanism known as âDoomslug.â This mechanism solves many scalability problems. Also, NEAR Protocol implements a variation of sharding known as âNightshade,â which reportedly allows the processing of 100,000 transactions per second (tps).
This platform facilitates the development of decentralized applications (DApps) and eases the interaction of users with the blockchain. For instance, instead of using cryptographic addresses for wallets, NEAR Protocol uses human-readable account names. The NEAR token powers the entire ecosystem.
NEAR Protocol (NEAR) Overview
As of July 28, 2023, NEAR was the 39th most valuable cryptocurrency by market capitalization, according to CoinMarketCap. The table below summarizes other relevant data for this digital asset.
NEAR Protocol (NEAR) Past Price Analysis
The NEAR Protocolâs mainnet launched on April 22, 2020, with one billion NEAR tokens created at genesis. This assetâs open price was nearly $1.7 but did not keep that level for long, ending 2020 at around $1.4. In 2021, this token performed significantly better. During Q1 2021, NEAR experienced a rapid appreciation, trading at $4.8 on February 13. One month later, on Match 13, NEAR reached $7.4. However, this tokenâs price dropped in the following months.
The NEAR price resurged in Q3 2021. NEAR traded at $11.5 on September 8 and $12.3 on October 25. Despite much volatility in the following weeks, NEAR ended 2021 at $14.6. In 2022, the NEAR price skyrocketed, reaching its all-time high on January 16 at $20.4. However, the price retreated in the following days, falling to $8.5 on February 27. Despite this price drop, the NEAR price increased again, reaching $19.6 on April 8. After keeping that level for approximately one week, the NEA price fell again.
On June 16, 2022, NEAR traded at $3.2. This tokenâs price fluctuated around this value for some months but ultimately ended 2022 at around $1.3. In the first half of 2023, the NEAR price slightly increased. However, the NEAR price has dropped even below its open price in the last few months. As of July 29, 2023, NEAR traded at approximately $1.4.
NEAR Protocol (NEAR) Price Prediction for 2024-2030
NEAR Price Prediction for 2024
In 2024, NEAR will show clear signs of recovery. According to PricePrediction, NEAR will trade at $2.5 on average, possibly reaching $2.9. DigitalCoinPrice expects an average price of $3.5 and a maximum of $3.6. For its part, Bitnation predicts an average NEAR price of $3.5 with a potential maximum of $3.9. Your NEAR investment at the current trading price of $1.4 could increase its value by +178% in 2024.
NEAR Price Prediction for 2025
PricePrediction expects NEAR to trade at $3.6 on average in 2025, potentially reaching $4.3. DigitalCoinPrice is more optimistic, with an average price of $4.9 and a maximum of $5.1. Bitnation indicates an average NEAR price of $4.9 in 2025, which could climb to $5.3. Hence, your NEAR investment at the current $1.4 could grow by +278% in 2025.
NEAR Price Prediction for 2030
NEAR price predictions for 2030 vary greatly. Bitnation expects this token to trade at $12 on average, with a potential maximum of $12.4. For its part, DigitalCoinPrice predicts an average price of $14.3, with a maximum of $14.8. PricePrediction is significantly more optimistic, with an average NEAR price of $22.3 and a maximum of $25.8. The last prediction indicates NEAR could reach a new all-time high in 2030. Your NEAR investment at the current trading price of $1.4 would grow by +1,743%.
Conclusion
Price predictions are pretty optimistic for the NEAR token, particularly in the long run. With the technology to become a solid competitor to Ethereum, the NEAR Protocol blockchain has a bright future in the industry. However, the crypto market is quite unstable. Hence, if you want to invest in NEAR, you must research it beyond price predictions. You can buy this token on LetsExchange.io at competitive prices without mandatory registration.
FAQs
Is NEAR Protocol (NEAR) a good investment?
Many analysts think NEAR is a good crypto investment. Even though short-term price predictions do not indicate outstanding performance, this token could significantly increase its price in the long run. A technically sound project offers additional certainty about the bright future of this asset.
How high can NEAR Protocol (NEAR) go?
According to PricePrediction, NEAR could trade at a maximum of $56.2 in 2032.
Should I invest in NEAR Protocol (NEAR)?
Investing in cryptocurrencies is risky; only you can decide whether to invest in NEAR. Research this asset thoroughly and keep current with any developments within the NEAR Protocol ecosystem that could affect the NEAR token price.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesnât constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.
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