Near Protocol has just acquired an additional 350 million thanks to the funding round led by the Tiger Global Management fund . This comes just three months after raising $150 million. A few days prior, the DEX Trisolaris raised $4.5 million on its blockchain.
Ranked 18th among capitalizations, the Near token has grown by 32% over the past seven days, before experiencing a circumstantial correction (14%). If the scalability and interoperability of its blockchain have been seductive, the Near team now intends to encourage the decentralization of its ecosystem.
The reasons of this success
Launched in 2020 by Illia Polosukhin and Alexander Skidanov, Near protocol enables the development of decentralized applications (Dapps) and, in doing so, the transition to web 3.0. The Near blockchain, which is based on PoS consensus smart contracts, has convinced investors. We can notably cite Jump Crypto, Dragonfly Capital or Hashed thanks to three main assets.
First of all, while the Ethereum blockchain is facing scalability difficulties causing high transaction costs, the Near Protocol blockchain is based on a unique sharding technology (Nightshade) that is among the most efficient on the market.
Moreover, the interest of investors is also justified by the interoperability of the network . The latter allows, on the one hand, the exchange of ERC-20 tokens thanks to Rainbow bridge. On the other hand, full compatibility with Dapps developed on the Ethereum blockchain thanks to their EVM Aurora.
Finally, the recent fundraising of 4.5 million dollars maneuvered by Electric Capital for the benefit of the main exchange on the Near protocol, Trisolaris, did not fail to consolidate the confidence of investors.
What future after the runaway?
With the support of many well-informed investors, the Near protocol team has announced that it wishes to invest. This time, it focuses on the decentralization of their ecosystem. Trisolaris also has new investment ambitions likely to sustain the trust granted.
It is a question in particular of expanding the teams but also of improving the user experience on its platform. Trisolaris has also announced that it will soon be able to send funds to various automated market-makers (AMM).
Following two major fundraisers and surrounded by many new partners, Near Protocol seems to have the wind in its sails. Nevertheless, it will be necessary to observe whether the investments from which it has benefited will be valued up to expectations.
The evolution of Trisolaris, which could catalyze or influence the price of the token, deserves a close look. Indeed, the platform has few users. In addition, it has basic features compared to its well-established competitors. Finally, the volatility of the price of the NEAR token calls for caution for the time being.