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NEAR Price Maintains Bullish Start to 2023, Things to Watch Out For

Thu, 01/05/2023 - 09:22
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Godfrey Benjamin
NEAR price trading up by more than 7% amid creeping market rout
NEAR Price Maintains Bullish Start to 2023, Things to Watch Out For
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Near Protocol (NEAR) has maintained its bullish start to the year after maintaining 18.95% growth in the past week. At a price of $1.58, the coin is up by 7.38% in the past 24 hours, pushing it up in rank as one of the top digital currencies with a marked leap in growth today.

While Near Protocol has limited influence per its mere 0.16% market cap dominance, its role in the broader infrastructural evolution of Web3 is becoming known. The protocol was designed as a community-run cloud computing platform that eliminates some of the limitations that have been bogging down competing blockchains, such as low transaction speeds, low throughput and poor interoperability.

Near Protocol currently has every reason for its bulls to stay optimistic about the coin, seeing it is currently trusted by more than 22 million users carrying out more than 400,000 transactions per day. As a tradable token, accessibility to NEAR is enhanced as it is traded on many exchanges, giving the token a very good spread per its holding wallet addresses.

NEAR's latest bullish momentum is a testament to its community's resolve to push it to new milestones this year.

Projected NEAR milestones to watch

For many protocols and communities, the year 2023 is just shaping up. However, NEAR seems to be going in a good direction in the new year. With respect to its ecosystem buildup, the NEAR Foundation said it will refine its approach to granting funds to builders in a way that will engender productivity and sustainability.

While it has inked a very impressive growth milestone thus far this year, NEAR has seen a significant slump from its ATH of $20.42, attained back in January of last year. Following its latest momentum, we can expect NEAR to steadily breach key resistances on its path to reclaiming these price points, a move that is bound to be enhanced by its historically high-profile partnerships.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.