Why is NEAR Protocol gaining points while the rest of the market tanked?*
NEAR Protocol some of you reading this are previously aware of it, some of you are part of the community and many this will be your introduction to NEAR. The main reason behind that is NEAR is a newer blockchain that focuses on technology, and building a community / ecosystem. Not on hype.
September 7th 2021 the crypto markets took an unexpected dip.
Sept 6th that everything was on its way back up BTC was over $50,000 usd for a few days. Ether was up over $4,000 again. And NEAR was between $5.46 to $6.00.
Then Sept 7 almost the entire market crashed. Stable coins where making up the majority of the coins in the green. most coins seeing losses of 15%–30%. inspite of that NEAR soared to Multiple all time highes through out the day. Peaking up to over 70% gains in a 24 hour period.
I will go over some of the reasons many people are adopting NEAR as their platform of choice. There are so many more reasons that I will be including into this page. But I will be adding links at the bottom if you want to learn more about NEAR or get involved in a supportive rapidly growing community.
As well this is not financial advice I am solely sharing information and tools I have found in my NEAR adventures.
For Developers:
Before NEAR I was more focused on Solidity and Ethereum, and Ethereum Virtual Machine (EVM) chains (Binance, Polygon…). NEAR like EVM chains is turing complete and through Aurora Protocol they are able to use Solidity contract that can communicate with other EVM compatible chains. But NEAR is not just limited to Solidity for it’s smart contracts.
NEAR’s smart contracts can be writen in Rust or AssemblyScript as well and with their near-api-js package it opens up the freedom to coders from established programing languages to get involved in creating the future of web3 with a super smooth transition. The focus at NEAR is to build a community and reward developers gas fees of their creations on top of anything they earn from the dapp itself.
For people that are not coders or veteran coders that want to master a new skill. https://LearnNEAR.club is a learn to earn course that rewards graduating students of the course with upto $500 usd in NEAR.
Developer support is amazing. There are a few ways to connect with them and the response has generally been super fast on their Telegram and Discord servers. Anytime of day there is someone there that can help guide you in the right direction.
For Investing:
Although NEAR (at the time of typing this on Sept 8 2021) has a Fully Diluted Market Cap of $11,559,600,257. Out of that there is only 25% available as circulating supply. The remaining 75% the funds are either staked or locked up in smart contracts.
30 days ago, 1 NEAR was around $2.50 USD. now over $11.50 as I type this. Yet an other all time high (ATH). and again on a day when most of the market is in the Red.
On the graph to the right. You will see a compairson of NEAR overlayed with Bitcoins price history.
You might notice that prior to these last couple days. Both Bitcoin and NEAR have followed a very similar path. ( of course volumes have been very different. ) the peaks and dives have been taking place at the same time. Now inspite of BTC being down a 13%, NEAR in the same time period is up over 83%.
And have not even gotten into all the Dapps and services in the NEAR ecosystem. everything from DeFi to NFTs to Metaverse and Gaming.
GAS cost is in the pennies for most transactions with Full confirmation in seconds due to the sharding technology used to increase security and speed with 100,000 transactions processed per second. And the bridge to get funds to and from Ethereum cost effectively.
Staking through Metapool just launch their liquidity pools this week and have already raised over 50,000,000 in funds staked. And if that is your thing they are having 200x bonuses for the first couple weeks. Ref Finance with 4x discount for the first 2 week.
NFT platforms like MintGate.io offering expanded uses for NFTs for artists, collectibles and content protection. Paras NFT marketplace just launching their 2.0 site.
There are so many amazing projects and the community really supports new projects here. If you liked this and want to know more. Just a like or a comment below.
If you want to learn more about NEAR here are a few good places to explore.
First one the NEAR Protocol website. www.near.org
If you want to become a NEAR developer check out LearnNEAR.club or if you are a developer and want to jump right in. Check out the docs.near.org
Want to get some NEAR? get an official NEAR wallet at wallet.near.org
If you are new to crypto and just want to see how it all works without putting in any money. you can check out the testnet wallet and get 200 testnet tokens to use on the testnet chain.
To join the community Discord: https://discord.gg/UzY7nGTH or Telegram: https://t.me/cryptonear
You can follow me:
Twitter at @djjeffgold
*This is not finacial advice I am not a finacial advisor. Purely sharing information I have discovered. Please make your own research. The learning is the best part. Never stop learning.
If you have any questions please feel free to ask.
