The Reason NEAR Soared 110% in a Month
TL;DR
- NEAR Protocol’s Performance: NEAR, the native cryptocurrency of NEAR Protocol, has seen a substantial increase in its value, rising over 20% in the last 24 hours and an impressive 110% over the past month.
- Market Optimism and Influences: The surge in NEAR’s price could be partly attributed to the overall bullish sentiment in the cryptocurrency market, influenced by rising prices of major digital assets like Bitcoin and Ether, and anticipation of a spot BTC ETF in the US and the upcoming Bitcoin halving.
- Support from Binance Japan: NEAR Protocol gained additional support as Binance Japan announced it would add NEAR among 13 new tokens to its platform on November 27, increasing its total cryptocurrency offerings to 47, with a future goal of supporting 100 tokens.
NEAR Protocol’s native cryptocurrency – NEAR – has been among the best-performing tokens in the digital asset market in the past several days. Its price has jumped by over 20% for the past 24 hours and a whopping 110% on a monthly basis.
Its impressive surge at the end of October and the beginning of the ongoing month could be attributed to the overall bullish sentiment reigning in the entire crypto industry. Recall that the biggest digital assets by market capitalization – Bitcoin (BTC) and Ether (ETH) – briefly climbed to $38,000 and $2,100 (respectively).
The optimism in the space might be triggered by expectations that a spot BTC ETF could soon see the light of day in the United States and the upcoming halving.
In addition, NEAR received support from Binance Japan. As CryptoPotato reported last week, the Japanese subsidiary of the world’s largest crypto exchange vowed to add 13 tokens (NEAR included) on its platform on November 27.
Once the move is completed, the marketplace will increase the total number of supported cryptocurrencies to 47. Its ultimate goal is to boost that figure to 100 in the future.
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