NEAR Received A $350 Million Investment

Ethereum rival NEAR received a $350 million investment. NEAR Protocol is also attracting the attention of investors.

The high transfer fees and congestion of the Ethereum network caused the rapid emergence of alternatives. NEAR, which is one of them, receives investments one after the other thanks to its high potential.

What is the NEAR Protocol?

The NEAR protocol, which was established in 2018, aims to rival Ethereum with smart contracts that allow high-speed transfer, applications and programs that automatically act when certain conditions are met. This potential has made the NEAR protocol attract attention. The protocol, which received an investment of 21.6 million dollars in 2020, received an investment of 150 million dollars earlier this year. Not long after, another $350 million investment came. Under the leadership of Tiger Global, the investment group consisting of giants such as FTX Ventures and Dragonfly Capital states that the ecosystem promises a great future. The ecosystem recently rolled out an $800 million developer fund. The NEAR coin hit the $18 level after these news, reaching a market cap of more than $11 billion.