{"id":566265,"date":"2023-12-21T06:00:17","date_gmt":"2023-12-21T06:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=566265"},"modified":"2023-12-21T05:01:32","modified_gmt":"2023-12-21T05:01:32","slug":"near-hits-new-high-since-2022-will-the-bears-get-in-the-way","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/near-hits-new-high-since-2022-will-the-bears-get-in-the-way\/","title":{"rendered":"NEAR Hits New High Since 2022 – Will The Bears Get In The Way?\u00a0"},"content":{"rendered":"

The past two months have been a green flag for the broader crypto market in the run-up to the festive season. Although the hype has since cooled down, a few outliers continue to follow the upward trend. NEAR is one of those tokens that aren\u2019t showing signs of cooling down.<\/span><\/p>\n

According to <\/span>Coingecko<\/span><\/a>, the token is up nearly 8% in the daily, with the biggest jump being at 23% in the weekly timeframe. With this price ascent, NEAR just reached a new high of $2.81. The token hit its all-time high of $20.42 in January 2022.\u00a0<\/span><\/p>\n

The token\u2019s market capitalization has likewise ballooned significantly, currently priced around $2.8 billion. Several on-chain integrations power this new wave of bullishness for NEAR.\u00a0<\/span><\/p>\n

Related Reading: Solana Q4 Triumph: Soaring Activity Leaves Ethereum In The Dust \u2013 Report<\/a><\/div>\n

NEAR: Monolithic And Modular?<\/b><\/h2>\n

Recently, eyes are on NEAR as it continues to improve its systems. According to a <\/span>Medium<\/span><\/a> article last week, the protocol is implementing more changes to become what they call \u201ca monolithic going modular\u201d blockchain.\u00a0<\/span><\/p>\n

\u201c<\/span>In a monolithic blockchain, all four functions are executed by the same set of nodes. This has some benefits, such as high security, easier deployment, and potentially improved utility for users thanks to the ability to specialize the entire network,\u201d the Medium article said.\u00a0<\/span><\/em><\/h4>\n

Although the NEAR team says that the token is a monolothic chain, its implementation of sharding do not overwhelm individual validators. However, this isn\u2019t enough for users as both users and developers quickly realized that publishing on Ethereum becomes an expensive ordeal.\u00a0<\/span><\/p>\n

But NEAR DA aims to change that.\u00a0<\/span><\/p>\n

NEAR market cap currently at $2.839 billion. Chart: TradingView.com<\/a><\/pre>\n
NEAR DA (\u201cDA\u201d meaning data availability) will give rollup operators access to NEAR\u2019s storage capacity.\u00a0<\/span><\/p>\n
\u201cNEAR runs four shards with roughly 16MB throughput a second. Assuming 100 bytes per transaction, you can store quite a significant amount of your data on NEAR at a fraction of the cost of publishing to NEAR,\u201d the article explained.<\/span><\/em><\/h4>\n
As of writing, only a handful of rollups are using NEAR DA; namely Caldera, Fluent, and Movement Labs. Once this capability is in the hands of commercial users and other rollup operators, NEAR will be able to increase exposure to other investors.\u00a0<\/span><\/p>\n
Meanwhile, according to Artemis data, there has been a significant increase in network activity<\/a> on the NEAR blockchain since the beginning of the month.<\/p>\n
The data source claims that there has been a 975% increase in the daily count of unique wallet addresses sending on-chain transactions on the network.<\/p>\n
\"\"Source: Artemis<\/pre>\n
How Does This Affect NEAR\u2019s Price?\u00a0<\/b><\/h2>\n
As of now, the token is on its way to break through $2.90 price ceiling. However, it seems that the January 2022 high of $20.42 will be a tough nut to crack as the bears mount a strong defense. But the advent of strong on-chain development along with good market conditions will bring more bullishness in the short to medium-term.\u00a0<\/span><\/p>\n
Related Reading: Woo-ing Buyers: Woo Network Token 75% Rally Sparks Investor Interest<\/a><\/div>\n
For now, investors and traders should brace for a possible correction towards $2.25 once the hype starts to settle down.\u00a0<\/span><\/p>\n
Featured images from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The past two months have been a green flag for the broader crypto market in the run-up to the festive season. Although the hype has since cooled down, a few outliers continue to follow the upward trend. NEAR is one of those tokens that aren\u2019t showing signs of cooling down. According to Coingecko, the token is up nearly 8% in the daily, with the biggest jump being at 23% in the weekly timeframe. With this price ascent, NEAR just reached a new high of $2.81. The token hit its all-time high of $20.42 in January 2022.\u00a0 The token\u2019s market capitalization has likewise ballooned significantly, currently priced around $2.8 billion. Several on-chain integrations power this new wave of bullishness for NEAR.\u00a0 Related Reading: Solana Q4 Triumph: Soaring Activity Leaves Ethereum In The Dust \u2013 Report NEAR: Monolithic And Modular? Recently, eyes are on NEAR as it continues to improve its systems. According to a Medium article last week, the protocol is implementing more changes to become what they call \u201ca monolithic going modular\u201d blockchain.\u00a0 \u201cIn a monolithic blockchain, all four functions are executed by the same set of nodes. This has some benefits, such as high security, easier deployment, and potentially improved utility for users thanks to the ability to specialize the entire network,\u201d the Medium article said.\u00a0 Although the NEAR team says that the token is a monolothic chain, its implementation of sharding do not overwhelm individual validators. However, this isn\u2019t enough for users as both users and developers quickly realized that publishing on Ethereum becomes an expensive ordeal.\u00a0 But NEAR DA aims to change that.\u00a0 NEAR market cap currently at $2.839 billion. Chart: TradingView.com NEAR DA (\u201cDA\u201d meaning data availability) will give rollup operators access to NEAR\u2019s storage capacity.\u00a0 \u201cNEAR runs four shards with roughly 16MB throughput a second. Assuming 100 bytes per transaction, you can store quite a significant amount of your data on NEAR at a fraction of the cost of publishing to NEAR,\u201d the article explained. As of writing, only a handful of rollups are using NEAR DA; namely Caldera, Fluent, and Movement Labs. Once this capability is in the hands of commercial users and other rollup operators, NEAR will be able to increase exposure to other investors.\u00a0 Meanwhile, according to Artemis data, there has been a significant increase in network activity on the NEAR blockchain since the beginning of the month. The data source claims that there has been a 975% increase in the daily count of unique wallet addresses sending on-chain transactions on the network. Source: Artemis How Does This Affect NEAR\u2019s Price?\u00a0 As of now, the token is on its way to break through $2.90 price ceiling. However, it seems that the January 2022 high of $20.42 will be a tough nut to crack as the bears mount a strong defense. But the advent of strong on-chain development along with good market conditions will bring more bullishness in the short to medium-term.\u00a0 Related Reading: Woo-ing Buyers: Woo Network Token 75% Rally Sparks Investor Interest For now, investors and traders should brace for a possible correction towards $2.25 once the hype starts to settle down.\u00a0 Featured images from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":566273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,1946,85054,90933,3505],"class_list":["post-566265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-ethereum","tag-near","tag-on-chain-news","tag-price-analysis"],"acf":[],"yoast_head":"\nNEAR Hits New High Since 2022 - Will The Bears Get In The Way?\u00a0<\/title>\n<meta name=\"description\" content=\"The past two months have been a green flag for the broader crypto market in the run-up to the festive season. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"NEAR Hits New High Since 2022 – Will The Bears Get In The Way?\u00a0","url":"http:\/\/wncen.com\/news\/near-hits-new-high-since-2022-will-the-bears-get-in-the-way\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/near-hits-new-high-since-2022-will-the-bears-get-in-the-way\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/a-138.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/a-138.png?fit=313%2C212"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","ethereum","near","on-chain news","price analysis"],"dateCreated":"2023-12-21T06:00:17Z","datePublished":"2023-12-21T06:00:17Z","dateModified":"2023-12-21T06:00:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"NEAR Hits New High Since 2022 – Will The Bears Get In The Way?\\u00a0\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/near-hits-new-high-since-2022-will-the-bears-get-in-the-way\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/near-hits-new-high-since-2022-will-the-bears-get-in-the-way\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/a-138.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/a-138.png?fit=313%2C212\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"ethereum\",\"near\",\"on-chain news\",\"price analysis\"],\"dateCreated\":\"2023-12-21T06:00:17Z\",\"datePublished\":\"2023-12-21T06:00:17Z\",\"dateModified\":\"2023-12-21T06:00:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/a-138.png?fit=313%2C212","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/566265"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=566265"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/566265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/566273"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=566265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=566265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=566265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}