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UpBots Academy – Know your coins: NEAR - Last week we reviewed the TRX project, one of the oldest in the crypto market. This week we're going to take a look at another 3rd generation crypto focused on Dapps, I named NEAR Protocol.

UpBots Academy – Know your coins: NEAR

Last week we reviewed the TRX project, one of the oldest in the crypto market. This week we’re going to take a look at another 3rd generation of crypto-focused on Dapps, which I named NEAR Protocol.

Creation

The NEAR Protocol crypto exists since November 2020. Its creator is Erick Trautman, an entrepreneur known to have worked on Wall Street. Alex Skidanov, the former software developer at Microsoft, and Illia Polosukhin, former engineering manager at Google, also participated in the creation of the NEAR Protocol.

In other words, NEAR Protocol is built on a more than solid foundation! Since its inception, the start-up has raised over $65.9 million through traditional fundraising. Recently, the NEAR Foundation announced that it had raised 150 million euros to accelerate “the massive adoption of Web 3.0”.

Usage

NEAR Protocol is a third-generation blockchain that specializes in the development of decentralized applications and is therefore very similar to Ethereum, Solana, Cardano, etc. In practice, its ecosystem is not yet as developed. Indeed, according to the site Dappradar, barely thirty applications. The blockchain uses the DPoS (Delegated Proof-Of-Stake) consensus protocol and achieves carbon neutrality, which is a non-negligible asset in the context of growing concern for the ecology.

The NEAR Protocol blockchain has two major advantages that should drive its development and adoption:

  • Very easy application creation
  • Compatibility with Ethereum. Applications developed with Ethereum are compatible with NEAR Protocol thanks to its smart contract called Aurora. This is a strong argument that should seduce people who are tired of the Ethereum blockchain because of its costs and its low scalability.

Technical analysis

The NEAR/USDT pair is now trading just above its support level at $4.75. NEAR is prey, like the rest of the market, to the BTC trend.

The daily technical situation is rather neutral, even negative with a MACD that has yet to cross lower but a WaveTrend that has already given a sell signal.

On a 4h time frame, the indicators are both negative.

If NEAR were to break its support level, the price could drop to $3.46.

UpBots Academy – Know your coins: NEAR


How to profit on the Upbots platform?

We have only one bot trading NEAR on our platform but it performs well with more than 277% in total and allows you to trade long-only side.

  • Smart NEAR

It’s pretty good, right? Come and try it for yourself!

Conclusion

And here is another new coin that no longer holds any secrets for you! This one was a different project in comparison with all the others we covered in this series. Next week, we will discuss another very interesting project, ATOM.

See you next week!

 

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