Many themes are appearing as the crypto market constantly experiences high volatility this year. One issue being many developers are diving at the great opportunity of constructing a few incredible utilities with a high prospect of disrupting markets that range from funding to event ticketing. Another one is that blockchain is facing scaling apart from user requirements and it is creating a few problems in some areas. Thus in long term, cryptos that are well equipped for dealing with challenges and opportunities will be highly successful. One of the great performing crypto last year was Solana. It emerged from relative insignificance and evolved into a cryptocurrency. It is called the digital asset’s ecosystem’ Visa by Bank of America. It hit huge highs last year in November. It is down from it but yet it boasts a market cap of $27 billion. Thus by valuation, Solana is the eighth-largest crypto. Solana reached this place due to huge capital funding, development, and the rise of apps because of some passionate users apart from low fees and high speed of transactions. NEAR Protocol is a crypto that too enjoys a lot of these similar hallmarks. It looks like NEAR Protocol may be becoming the Solana of 2022. Also, check the websites for reviews if day trading bitcoin is worth it or not.
Speed along with performance
- When users of Ethereum or gas or fees were making crypto users get hold of other solutions, the center stage was taken by Solana.
- Due to its low cost and high speeds, it amounted to only a cent fraction.
- Similar to Solana, an impressive throughput is offered by NEAR Protocol.
- It enabled around 100,000 transactions each second.
- NEAR Protocol too boasts mostly finality of instant transaction or completion.
- Anyone has to nervously wait for many minutes for one transaction to complete and appear in his account using Ethereum or Bitcoin.
- That person can let you know that it is an alluring feature.
- NEAR Protocol’s fees are very negligible and are less than $0.01.
Financing favorite
- NEAR Protocol has allured an impressive investment influx from the few biggest venture capitalists of crypto along with funds in 2022.
- It began with a funding of $150 million led by Jump Crypto and Three Arrows in January.
- It was followed up with one funding of $350 million led in April by Tiger Global.
- Cryptos such as NEAR can make use of this funding for spurring development on this platform and draw in more users.
Community and development
- Solana faced a new app wave last year.
- Similarly NEAR Protocol has been experiencing a development surge.
- Last summer some NFTs were first available on Solana such as a platform like Magic Eden came out as an active marketplace.
- NEAR Protocol enables NFTs and some platforms such as Paras and Mintbase have emerged on Near Protocol.
- NFTs available on NEAR did not attract a similar cachet level as that on Ethereum or Solana, the infrastructure is very much in place for if they catch more attention any time soon.
- NEAR Protocol is also Ref Finance’s home.
- It is a decentralized exchange that is growing.
- Ref’s volume was frequently less than $5 million per day as currently as this year’s February and March.
- On 30th April, volume hit one all-time high and that is $112 million.
- There is an increase in trading volume although it has been an outlier.
NEAR Protocol is the next Solana
- This year the crypto market has been going through many challenges.
- But projects such as NEAR Protocol constantly plug away and build up their ecosystem.
- USN stablecoin’s launch on NEAR Protocol will be assisting in attracting a lot of users to this network.
- NEAR Protocol comes with various alluring features like low fees, high speed, major funding, thriving development, etc. that has made Solana become one of the biggest winners of crypto tokens last year.
- For all such reasons, the position of NEAR Protocol must be done properly to let it become this year’s Solana.
Conclusion
Major industry players are providing support to NEAR Protocol. Also, it has great speed and an excellent rate of growth apart from its low valuation compared to another significant coin. NEAR Protocol will likely rise more this year. Its upside potential is very high.
