Near Protocol was founded by Alexander Skidanov, Ilya Polosukhin and Eric Trautman. Near Protocol's main network launched in April 2020 after validators voted to unlock token transfers in October 2020. From this moment on, it became possible to buy the coin in the same way as swap BTC to ETH.
This network is a community-driven cloud infrastructure used to deploy and operate dApps. The protocol offers both a decentralized database and a serverless computing platform.
Features of the Near network
Near Protocol is a decentralized network that uses a Proof-of-Stake (PoS) consensus mechanism. The network is a climate-neutral, high-speed layer 1 blockchain with low transaction fees that aims to create an ecosystem that is scalable and accessible to a wider audience.
The Near Protocol network is focused on user convenience. Its features include human-readable account names. In addition, the platform provides the ability for new participants to interact with decentralized applications (dApps) and smart contracts, even without the need for a cryptocurrency wallet.
The Near protocol also successfully solves the problems of early blockchains, such as low transaction speeds, interoperability and throughput. It interacts with Ethereum, Polkadot, Cosmos and other blockchains, providing linear asset flow and inter-chain connectivity. To solve scaling issues, the Near Protocol network uses sharding technology known as Nightshade and the Doomslug mechanism.
NEAR is the primary natural asset of the ecosystem, used to complete transactions, store data, participate in staking procedures and governance. At the time of launch, the token was worth about 80 cents, and by March 2021 it reached its first all-time high at $7.37 per coin.
In January 2022, the coin was currently trading at $20 and has since begun to decline. The decline continued until late October 2023, when the price reached a multi-month low of around $0.96. At the time of writing, NEAR is showing positive dynamics, although it is too early to talk about a radical change in trend. Although you shouldn’t rush too much with an exchange NEAR to ETH.
In order for a token to recover its performance and return to its status as a major investment vehicle, it will need to perform similarly to when it reached its all-time high.
NEAR has an active and close-knit community and this is a big plus. The platform continues to evolve and its full functionality has not yet been fully launched. In addition to the expansion of the ecosystem, the future price of the token will be influenced by general market trends and the balance of supply and demand.
NEAR price forecast
The NEAR token price forecast for 2024 suggests an average price of $3.65. The maximum expected price is $4.31 and the minimum is $2.99. The 2025 forecast sees the high price reaching $5.48, with a potential low of around $3.80. The average price for the entire year is estimated to be approximately $4.64.
For 2026, it is predicted that the price of NEAR could increase by approximately $7.10. In this case, the minimum and average prices can be 4.93 and 6.02 dollars, respectively. The 2027 forecast calls for a peak price of $9.29, a low price of $6.45, and an average price of around $7.87.
The upward trend is likely to continue in 2028 with a maximum price of $11.93 and a minimum of $8.29. The average price of a coin can reach $10.11. The 2029 forecast calls for a high of $14.78, a low of about $10.26, and an average of about $12.52.
The long-term forecast for 2030 shows that the NEAR token price could reach a maximum of $18.01, a minimum of around $12.51, and an average of around $15.26. The NEAR market is expected to continue its growth with a long-term investment perspective.
Is NEAR a good investment?
The project has good growth potential as it aims to solve several serious problems in the industry. The current price of the coin corresponds to the early period of the network’s existence, and crypto enthusiasts are expecting the start of a new market growth cycle. This is a potential chance to replicate the success of early investors, but it is worth remembering that past performance does not guarantee future performance.
Therefore, before making investment decisions, be sure to conduct your own market analysis.