NEAR has reached a new all-time high after rallying by more than 28% in the past 24 hours.
NEAR reaches a new all-time high above $13
NEAR, the native coin of the NEAR Protocol blockchain, set a new all-time high a few minutes ago. The coin has been performing excellently over the past week, rising by more than 80% during that period.
At the time of writing, NEAR is trading at $13.12 per coin, while its all-time high price is around $13.18. NEAR Protocol is a decentralized application platform designed to make apps usable on the web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees.
NEAR’s blockchain uses a technique dubbed sharding. This technique splits the network into multiple pieces so that the computation is done in parallel, which improves the network’s scalability.
NEAR launches an $800 million ecosystem growth fund
The NEAR coin reached a new all-time high roughly 24 hours after the protocol announced the launch of an $800 million ecosystem growth fund. NEAR Collective launched an $800 million fund to support burgeoning decentralized finance (DeFi) space. The funds would be used to support developers and startups in the DeFi space.
📣 Early #NEARCON Announcement! 💥
— NEAR Protocol (@NEARProtocol) October 25, 2021
NEAR Collective is a globally distributed group of teams and individuals dedicated to contributing their share to the research and development of the NEAR protocol.