Monat: April 2022

NEAR price has rallied by over 8% and it’s still green. It is currently trading at $17.46 after dropping from a high of $ 17.90 in the last 24 hours.

But why is the price of NEAR skyrocketing? In this article, we will take a deep dive into the reasons behind the rally.

Why is NEAR price surging?

Before we delve into the current uptrend, it is important to first explain what NEAR and Near Protocol are. 

In a nutshell, Near Protocol is a community-built blockchain with advanced network operability and a faster transaction speed, and NEAR is its native token.

Now onto the reasons behind the bullish trend.

There are a number of reasons that have resulted in the current price surge putting the coin in the spotlight. The two main reasons are the recent $4.5 million fund round by Trisolaris and Increased interest in altcoins among crypto investors.

• $4.5 million fund round by Trisolaris

One of the main reasons for the price hike is the recent news that Trisolaris, Near Protocol’s decentralized exchange, managed to raise $4.5 million in its latest fund round. The funding was led by Electric Capital in partnership with Dragonfly Capital, Ethereal venture, Leminscap, and Jump Crypto.

The exchange aims to apply new capital in order to increase and expand the total liquidity on the platform and also hire more people to establish cross-chain swaps with the token.

Besides, the token is being widely deposited on the exchange. However, the news seems to favor Wrapped Near (WNEAR), an encrypted form of the token that is used to trade on Trisolaris, more than NEAR.

NEAR hit an all-time-high after $150 million funding in a past funding round that was led by Three-Arrow Capital and other major crypto funds like Alameda, Dragonfly, and a16z in January.

• Increased interest in altcoins by investors

NEAR has also benefited a great deal from the rising interest in altcoins, especially during the altcoin season that has seen most of the altcoins register significant upwards price movements.

The post Near Protocol (NEAR) jumps over 8%: here’s the reason why appeared first on Coin Journal.

The crypto market as a whole was mixed today. Fred Thiel, the CEO of Marathon Digital Holdings – the largest Bitcoin mining company, said he would be open to acquisition if the price is right.

Housebuilders shone yesterday on what was an otherwise uneventful day for the UK100.

Top cryptos

Solana was down more than 2% over the past 24 hours with most major cryptos registering minor gains or losses. Bitcoin was trading just above $46,700 at time of writing, up more than 1% over the past 24 hours.

Dogecoin is up 5%. It usually gains whenever Elon Musk is in the news, which he last was for buying 9.2% of Twitter shares worth $2.9 billion. He became the social media giant’s biggest stockholder as a result, and the shares gained 27%.

Top movers

The top movers of recent days are reversing gains. Waves is down 22%, Zilliqa 10%, and Stepn – 6%. At the other end, Celo is up 20%, Mina is up 8%, and Oasis Network gained 6%.

Celo has been rising since the Celo Connect global networking event started in Barcelona yesterday. 

Audius, a decentralized music sharing ecosystem, is rallying on news of renaming the iconic Red Rocks Amphitheater near Denver to the Audio Amphitheater. Its native coin AUDIO added 12% to its value today.  

Trending

En-Tan-Mo’s token ETM is up 373% in the last 24 hours. It describes itself as a next-gen public blockchain project, which is said to implement SHD completeness and be based on the concepts of value transfer and Nash equilibrium.

The post Highlights April 5: Major Bitcoin miner open to acquisition appeared first on Coin Journal.