According to the “Fear and Greed” index, in recent months, the entire crypto market has been in decline and the Near protocol isn’t the exception. The NEAR Protocol is a cloud computing platform controlled by the community. It focuses on interoperability and lightning-fast transaction speed.
However, we think that the NEAR protocol is worth investing in the dip. Therefore, in this article, you will discover the reasons why you should do it.
1. Invest in Fundamental Projects like NEAR.
At the beginning of 2021, the price of the $NEAR token had a big rise. For example, on January 16th, the price reached $20.42 which represented the ATH. However, the entire crypto market is in big decline, and this has also affected the price of $NEAR. As a result, in one week, the price has halved and now it is at $9.97.
According to the “Altcoin fear and greed index” NEAR sentiment is in panic. That means a lot of investors are selling their tokens in a panic behavior.
NEAR Protocol Fear and Greed Index is currently 2 – PANIC
Current #NEAR price is 9.926945819744812 usd
Current market cap is 6,157,062,836 usd
24h trading volume is 865,850,329 usd$NEAR FGI live update#cryptocurrencies #altcoins #cryptonews #crypto pic.twitter.com/fvSEf0Cqd9
— Altcoin Fear and Greed Index (@AltcoinFGI) January 24, 2022
Some investors use the fear and greed index to gauge the market. That behavior is based on the idea that extreme fear can cause tokens to trade much below their intrinsic values. Therefore, the unique effect of that kind of investors is that they generate the token’s price to be far above what they should be worth.
This Warren Buffett quote from 1986 is the most important advice you need right now: “Be fearful when others are greedy and greedy when others are fearful”. Therefore, in the moments as they are now, market decline, it is necessary to focus on fundamentally strong projects.
As a result, the NEAR Protocol is a fundamentally strong project, and currently, the NEAR token is trading below its intrinsic value. That means it’s a good opportunity to buy it.
2. Latest Achievements from NEAR Protocol
We have pointed out three things that have impacted the recent increase in the price of NEAR tokens, and as a result, we believe that buying them is currently a good opportunity.
NEAR Secures a $150 Million Investment Round.
The NEAR announced that it had successfully finished its newest funding round. They raised $150 million from a group of investors that included Dragonfly Capital, a16z, Alameda, and Circle Ventures.
According to the annoucement, the NEAR protocol promises to use the funds raised to accelerate the adoption of Web3 technologies through ecosystem funding. Also, they will establish regional hubs for the NEAR community and support projects built on the protocol.
— NEAR Blockchain (@NEAR_Blockchain) January 13, 2022
Successful Launch of Aurora Protocol
Aurora protocol is a platform built on NEAR. It assists users and decentralized apps running on the Ethereum network in bridging to the NEAR protocol.
The MetaBUILD Hackathon offers you the opportunity to build your dream project and have it reviewed by the leaders that are building #NEAR and its ecosystem.
Introducing the NEAR, Aurora and Octopus judges 🔽 pic.twitter.com/oFdgNI5oRl
— NEAR Protocol (@NEARProtocol) January 13, 2022
Nowadays, NEAR has the third-fastest growing developer community in the cryptocurrency ecosystem. It is because NEAR developers receive 30% of transaction fees spent on their contracts. Thus, this provides a source of revenue for developers in an industry where compensation is not always secured.
🌐 Developers on #NEAR get 30% of the txns fees spent on their contract!! – maybe one of many reasons why MAD on @NEARProtocol is growing rapidly and has shown 4x+ growth in 1 year! 🚀 🚀 🚀
🏅 Top 3 in fastest-growing dev ecosystem 🔽 pic.twitter.com/UCe9jYVRcG
— THE NEARWEEK Ⓝ (@NEARWEEK) January 11, 2022
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