Near Reaches All-Time High As Layer1 Blockchain Competition Enhances

Near reaches all-time high above $17 amid the bullish competition between the layer-1 networks. In our latest blockchain news, we are reading more about Near’s new milestone.

The price of NEAR as the native token of the Near protocol surged to hit a new high of $17.28 today and the token slightly retraced since but it is still up by 15.3% in the past 24 hours, trading at $16.84. NEAR reaches an all-time high on Tuesday again.
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It is a smart-contract blockchain that uses a proof of stake consensus mechanism and a technology known as sharding to boost the network’s scalability and to lower the transaction fees.

The popular #Fantom spiked +19% Monday despite #crypto's mild slide. $FTM's price has now surged +115% in just under two weeks, and #Fantom's active addresses have spiked to levels not seen since late November. https://t.co/zxaoGT3tcO pic.twitter.com/9O099hgwSC

— Santiment (@santimentfeed) January 4, 2022

The asset’s price action came amid the flurry of activity around the project in the past few weeks. The latest notable integration was announced by Synapse Protocol as a Defi crypto exchange and cross-chain bridge that became available on Aurora virtual machine that allows Ethereum developers to build on Near Protocol. Last month, the team behind the protocol announced the integration of UST, Terra’s US dollar-pegged stablecoin coupled with a few several incentive campaigns aimed at improving the stablecoin’s liquidity. Other integrations include DeFi projects such as DePocketfinance, EndlessFM, and CraftingFinance, helping the protocol’s token price surged by 95.2% over the past two weeks and 110% in the past month.

Another day, another bridge!@SynapseProtocol is here for you, dear #AURORians! 🕺 https://t.co/jIZVIRwVXh

— Aurora (@auroraisnear) January 2, 2022

With a market cap of $10 billion, NEAR is now the market’s 23-rd biggest crypto. Fantom, the native token of the Ethereum compatible layer-1 blockchain is another top gainer of the day. FTM increased by 15.3% and it Is trading at $2.88 but looking back, the gains were ongoing as the token increased 109.6% in the past two weeks. According to the data from Santiment, the number of Fantom’s active addresses grew to levels last seen in November that boosted the total value locked across the Fantom ecosystem and a new record high of $5.86 billion. Other Layer-1 tokens are on the rise as well like Harmony and Tezos that posted gains of about 8%. all of the tokens led today’s sideways market which suggests speculators are betting on the multi-chain future in 2022 as well.

As recently reported, Near Protocol surged as its token hit a new high a few hours after the bullish week in 2021 for the smart-contract enabled blockchain network. Near Protocol’s native token NEAR is changing hands at $15.38 and this figure is up by 4.6% over the past but still 6% below the crypto’s all-time high of $16.33. however, the network’s price enjoyed a huge week.