The main goal of Near Protocol is to eliminate the low transaction speed, low throughput, and poor interoperability concerns associated with blockchain.
In addition, NEAR tokens have found their usefulness in paying transaction fees on the network and staking to earn rewards. Token holders can even vote on various proposals for improving the platform.
Also, let’s take a look at how well Near Protocol has performed compared to one of its main rivals, Solana.
Nearby the Protocol Vs Solana
As we know, Solana is also a blockchain platform whose main USP is its high transaction speed and high throughput. So, let’s make a brief comparison between the two:
- Both Near Protocol and Solana support Defi, NFT, and Layer 1 projects.
- The transaction cost on Near Protocol is $0.01, while the transaction cost on Solana is $0.00025.
- The Near Protocol has 24M+ active accounts, in contrast to Solana’s 11.5M+ active accounts to date.
- Over the past year, Near’s price has fallen by 5.08, while Solana’s price has fallen 3.7 times.
- The price of the nearby token has shown no net change over the past three months, while the price of SOL has decreased by 1.27 times.
- The price of NEAR has increased 1.76 times in the last month. On the other hand, Solana’s price has increased by 2.15 times.
Although the data states that the price of SOL has increased to a greater extent than NEAR, in the last month, the Near Protocol has clearly outperformed Solana for the entire duration. The reason is that the price of SOL reached its low a few weeks ago and is now recovering. On the other hand, the price of NEAR is constantly improving.
Competitor Analysis: Near Protocol Vs Ethereum
Near Protocol is the level 1 blockchain that aims to eliminate the limitations of competing blockchains (including low transaction speed, poor interoperability, and low throughput).
On the other hand, Ethereum is the widely known platform for developing decentralized applications and smart contracts. Let’s make a brief comparison between the two:
|Ethereum||Close to the protocol|
|Important audience||Users looking for community-driven technology that powers decentralized applications.||Developers looking for an open source platform to accelerate the development of decentralized applications.|
|Categories||lending, Crypto staking, Defi projects, Layer 1 protocols and Smart contracts.||Blockchain and Layer 1 protocols.|
|Performance in the last month||+1.27x||+1.76x|
|Performance of the last three months||No net change||-22.8%|
|Performance in the last year||-36.8%||-80.1%|
As we can see Ethereum has multiple categories to provide to its users and is actually the most used platform for DApp development. Moreover, Near Protocol has certainly failed to outperform Ethereum over the past year. However, its price has been improving since the last month.
Near Protocol Price Prediction
- Layer-1 POS Blockchain
- Faster and cheaper than most other Blockchains [100,000 TPS]
- Proprietary horizontal partitioning technique that enables faster scaling[Claim]
- Friendly to creators [Claim]
- Carbon Neutral
- Rainbow Bridge to connect with Ethereum Blockchain
- Aurora Layer-2 launching Ethereum Apps on NEAR
Before predicting whether NEAR Coin should rise or fall in the near future, let’s retrace its price history in recent months. Its performance in recent months can help us achieve the required context for the future. Let’s discuss:
Above is its chart for 1 year and as we can see that the market price of the NEAR cryptocurrency a year ago, was $ 15. So, there is an 89.6% drop in its price in a year, considering its current price of $1.56. In addition, there have been numerous ups and downs stating that the hike was not really continuous. It even reached its all-time highest value during that time.
The price of NEAR has decreased by more than 55.6% in three months (although the increase has not been consistent), keeping in mind that its price 3 months ago was $ 3.51. However, its price reached the lowest price of $1.2 during this period (as illustrated below).
Note that NEAR’s all-time highest value is $20.18 which it reached in January 2022. Subsequently, the price started to fall and is currently priced at $1.56 (again the decline has not been consistent throughout the entire period). Also, its market price a month ago was $1.69. It means that it has since declined by more than 7.7%.
In addition, NEAR crypto is 92.3% lower than its all-time highest price, meaning it has huge room for growth in the future.
Near Protocol Price Prediction 2023, 2025 and 2030
Near Protocol Price Forecast 2023
The aggregate maximum price for NEAR tokens for the year 2023 is $4.18, while the minimum aggregate price is $2.89.
Near Protocol Price Forecast 2025
According to the price
forecast, the NEAR token is expected to reach a minimum price of $7.59 and a maximum price level of $9.01 by the end of 2025.
Near Protocol Price Forecast 2030
By the end of 2030, the price of the NEAR token is expected to reach a maximum price level of $44.09. In addition, it can reach a minimum price level of $38.05.
Will the Near Protocol reach $10?
To reach a price of $10, NEAR must grow 6.41 times considering its current market price of $1.56.
Note that the NEAR cryptocurrency reached its all-time highest price of $20.18 in January 2022, where it grew 11.59 times in just 6 months (from the lowest value of $1.74 in July 2021). So, it grew about 1.93 times in a month.
Therefore, NEAR only takes 3.32 months to reach a price level of $10.
However, the current market situation of liquidity and inflation is definitely not in favor of the cryptocurrency market. Therefore, it cannot even reach $ 10 in the calculated time as above. However, reaching $10 is a relatively easy target for NEAR crypto if we follow its past price movements
Will the Near Protocol reach $100?
NEAR crypto needs to grow 64.1 times to reach $1000, considering its current market price of $1.56.
Since it showed growth of 1.93 times in a month (as calculated above), the NEAR cryptocurrency will need about 33.21 months (less than 3 years).
Again, macroeconomic factors and liquidity conditions are not similar to those when it reached its all-time high. Therefore, NEAR cannot be expected to show growth similar to that which was shown during that time.
Therefore, it will definitely need much longer to reach a price level of $100, even when economic factors subside.
Can Near Protocol reach $1000?
The NEAR token currently has a price of $2.34 and, therefore, will have to grow about 427 times to reach a price level of $1000.
In addition, the historical high value of NEAR is $20.18, during which it grew 11.59 times in 6 months.
So, considering its growth of 1.93 times in a month, we can say that Near Protocol will need a minimum of 221 months (more than 18 years) to reach $ 1000.
However, this would also depend on the macro and microeconomic conditions of that time and, therefore, could take even longer to reach that value.
Near Protocol Partnerships
Near Protocol recently announced its partnership with Dropt with the goal of incorporating Web3 technology into customer loyalty programs.
Dropt will build its technology stack and tools on the Near platform and enable companies to introduce blockchain-based engagement mechanisms for their customer journey. Therefore, it intends to increase the engagement, retention and lifetime value of companies.
Near Protocol Reddit Discussions
In a recent discussion on Reddit, users are discussing that the Near Protocol will succeed because it has more than 12 million java developers. Let’s analyze the speech.
However, Near Protocol does not support and therefore, users (according to the Reddit discussion) are not giving much hype about the fact that the platform has managed a pool of 12 million Java developers.
Close to the Tokenomics protocol
The Near Protocol is a layer 1 blockchain that aims to eliminate the limitations of blockchain platforms, including low transaction speed, poor interoperability, and low throughput.
is the native token of the Near platform and has a maximum supply of 1,000,000,000 NEAR tokens, of which 84% are already in circulation. The following are the key use cases for NEAR tokens:
- Users can pay transaction fees on the Near platform using NEAR encryption.
- NEAR tokens are used as collateral for storing data on the network.
- NEAR tokens can be wagered to earn rewards.
- NEAR token holders can participate in the governance of the platform.
How to buy Near Protocol Coin?
Before turning to the platform that provides Near Protocol coins, let’s discuss how to buy, Near Protocol coin:
- Find a crypto exchange with Near ProtocolToken coins listed
- Create an account with Exchange
- Verify your identity
- Finance your portfolio
- Make your purchase
Where can I buy tokens near me?
Nearby tokens can be purchased on numerous centralized and decentralized exchanges, including Binance, KuCoin, Coinbase, Kraken, Bitstamp, OKX, Huobi, Gate.io, PancakeSwap, BabySwap, Nomiswap, and 4swap.