NEAR Protocol (NEAR) Creates New ATH After Raising $150 Million From Large Funds

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2022-01-13 23:22:16

NEAR Protocol (NEAR) continues to resonate in 2022 with the support of many large investment funds.

NEAR Protocol (NEAR) Creates New ATH After Raising $150 Million From Large Funds

On the evening of January 13, the NEAR Foundation, the organization behind the blockchain project NEAR Protocol (NEAR), said it had successfully conducted a funding round with a value of up to 150 million USD. This funding round has been attended by many “big names” in the crypto investment industry, including Three Arrows Capital, a16z, Alameda Research, Mechanism Capital, Dragonfly Capital, Jump Capital, Zee Prime, Amber Group …

As revealed by Ashwin Ramachandran, a manager of the investment fund Dragonfly Capital, the above 150 million USD fundraising round was completed in just 2 weeks, showing the eagerness of the funds for NEAR Protocol. This investor commented:

“NEAR has a strong foundation in technology, so we want to help them have a community of developers, users, and an ecosystem that is commensurate with that technology.

For many, NEAR has always been a potential layer 1 blockchain, but is often overlooked because of its ecosystem’s lack of practical applications. However, when we show them what can be built, they get excited about it.”

Thanks to the above news, the NEAR price is increasing sharply by nearly 8%, setting a new record high at 19.5 USD.

1D graph of the NEAR/USDT pair on Binance at 09:25 PM on January 13, 2022

NEAR in the past time is also one of the few coins that “go against the storm” of the cryptocurrency market. In December 2021, the price of NEAR has increased by more than 67%, and the current increase in January 2022 is also more than 33%.

The reason for this growth comes from the fact that NEAR Foundation has made many right moves in the past time to attract users and increase applications for the ecosystem. First, in October 2021, NEAR triggered a “blockbuster” when it announced a $800 million fund to finance projects as well as as a liquidity attraction reward.

Then, in December, NEAR announced a partnership with Terra to support stablecoin UST, building a bridge between two blockchains that are receiving great attention from the community.

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