NEAR Protocol Navigating Upgrades and Partnerships in the Crypto Landscape

August 29, 2024 · 8 min read

Edited by exa

Current Status of NEAR Protocol

TLDR: NEAR Protocol's current price is $4.53, with a market cap of $5,017,770,237.00 and a 24h price change of 1.54%. Recent announcements include the Nightshade 2.0 upgrade, a new partnership with Allstake, and a temporary pause on NEAR deposits for a network upgrade.

Price Overview

  • Current Price: $4.53
  • Market Cap: $5,017,770,237.00
  • Market Cap Rank: 23
  • Fully Diluted Valuation: $5,362,497,809.00
  • Total Volume: $284,996,360.00
  • High 24h: $4.53
  • Low 24h: $4.24
  • Price Change 24h: $0.07
  • Price Change Percentage 24h: 1.54%

Latest Announcements

  • Nightshade 2.0 upgrade introduces stateless validation for better scalability and usability.
  • New partnership with Allstake enables users to restake their assets on leading L1s.
  • Temporary pause on NEAR deposits for a network upgrade.

Community Sentiments

  • Positive sentiment around NEAR Protocol, with many users expressing excitement about the project's potential and recent developments.
  • Some users have expressed concerns about the project's scalability and usability.
  • Recent tweets from @NEARProtocol highlight the team's emphasis on scalability and usability.

Relevant Tweets

  • @NEARProtocol: Nightshade 2.0 is live!
  • @NEARProtocol: We're excited to announce our new partnership with @allstake_fi!
  • @NEARProtocol: We're temporarily pausing NEAR deposits for a network upgrade.

Reference Analyses Performed

the following is the analyses performed by the Analyst as part of this content.

1. ProtoCOL Market Analysis

ProtoCOL Current Price: $4.53 Market Cap: $5,017,770,237.00 Market Cap Rank: 23 Fully Diluted Valuation: $5,362,497,809.00 Total Volume: $284,996,360.00 High 24h: $4.53 Low 24h: $4.24 Price Change 24h: $0.07 Price Change Percentage 24h: 1.54% Market Cap Change 24h: $95,356,495.00 Market Cap Change Percentage 24h: 1.94% Price Change 1h in USD: 0.83% Price Change Percentage 1h: 0.83% Price Change 24h in USD: 1.54% Price Change Percentage 24h: 1.54% Price Change 7d in USD: 7.16% Price Change Percentage 7d: 7.16% Price Change 30d in USD: -13.37% Price Change Percentage 30d: -13.37% Price Change 1y in USD: 283.70% Price Change Percentage 1y: 283.70%

2. Recent developments in NEAR Protocol

Recently, NEAR Protocol has made significant headlines in the crypto market. A report from CoinDCX released just two days ago highlights a potential for NEAR's price to achieve a year-to-date high above $15 in 2024. Meanwhile, another analysis from Cryptonews three days ago discussed NEAR's price predictions up to 2030, suggesting solid long-term investment potential for crypto enthusiasts.
Moreover, NEAR has experienced a notable price surge, increasing over 7% in just 24 hours according to a Benzinga report published five days ago. Additionally, Upbit announced a temporary pause on NEAR deposits for a network upgrade, as reported by Cointelegraph six days ago, indicating ongoing developments and enhancements within the ecosystem.
Sources: NEAR Protocol crypto blockchain:

3. NEAR Protocol Trends on Social Media

NEAR Protocol has been making waves with its recent upgrade, Nightshade 2.0, which introduces stateless validation for better scalability and usability. According to @NEARProtocol, this upgrade is a major step towards achieving the vision of every transaction starting on NEAR. Additionally, NEAR Protocol has been trending on social media, with many users expressing excitement about the project's potential. However, some users have also expressed concerns about the project's scalability and usability.
@NEARProtocol has also announced a new partnership with @allstake_fi, which enables users to restake their assets on leading L1s. This partnership has been well-received by the community, with many users expressing enthusiasm about the potential for increased staking rewards.
Overall, the sentiment around NEAR Protocol is positive, with many users expressing excitement about the project's potential and recent developments.
Relevant Tweets I found:

4. NEAR Protocol Enhancements and Initiatives

Recently, NEAR Protocol has made significant advancements. The Nightshade 2.0 launch introduces stateless validation, enhancing scalability on the NEAR mainnet, which was confirmed by @NEARProtocol with strong engagement. Moreover, there is excitement surrounding Chain Abstraction, allowing users to utilize USDC and other tokens across various chains, as discussed in a recent tweet from @NEARProtocol. Furthermore, the team emphasized the importance of scalability for Chain Abstraction's success, highlighted by @kendaIIc. Noteworthy discussions are also taking place in the NEAR community, including the upcoming AI alpha hackathon and the introduction of the Chain Abstracted Podcast, where @fluentxyz team explores flexible execution environments for developers. Overall, NEAR Protocol appears to be gearing up for a promising year ahead, as reiterated by several tweets from @NEARProtocol.
Relevant Tweets I found: