Can NEAR Protocol reach $1000, $100?
Near Protocol Latest Price
Before we get into Forecasts, let us catch up on the latest news and whether Near Protocol is a Good Investment.
Latest Near Protocol News
- The NEAR Foundation is teaming up with SK Inc. C&C, a global IT industry leader, to support the expansion of Web3 businesses. This collaboration brings together two dedicated teams focused on helping companies find the right Web3 tools to fuel their growth. NEAR Foundation and SK Inc. C&C will jointly conduct research, assist partners in their respective ecosystems, and collaborate on marketing efforts to boost awareness.
- Mantle has introduced an ecosystem gateway on the NEAR Blockchain Operating System. This gateway is integrated into the well-known Mantle dApp FusionX and is the result of a collaborative effort with the NEAR community. It streamlines the accessibility to Mantle applications and brings together key components of prominent dApps such as Mantle Bridge, Agni, Ammos, iZiSwap, FusionX, Gamma, Lendle, and soon Pendle, offering users a unified platform for these services.
- Weekly Updates:
- Circle has launched one of the world’s largest stable coins, $USDC on Near.
- Users can now experience the full power of Flipside data on the NEAR BOS.
- Cosmose AI has launched KAIKAINOW powered by Near Protocol.
- Metrics of the last week:
- Active Accounts: 1.58M+
- Transactions: 9.49M+
- TVL: $68.9M+
Can Near Protocol reach $1,000? What is Near Protocol?
NEAR Protocol is a scalable, decentralized blockchain platform for creating dApps and smart contracts. It promotes developer-friendly tools and languages and focuses on usability for developers and users. NEAR supports projects and DAOs with financial aid and advice, fostering a vibrant ecosystem. It implements a gas fee model and enables platform governance via its native token, NEAR. Despite its features and efficiency, its competitive edge is moderate, making it a reasonable investment choice.
Can Near Protocol Reach $1,000?
NEAR token will need to grow by around 600 times to reach a price level of $1000. Also, NEAR’s all-time high value is $20.18, during which it grew by 11.59 times in 6 months. Thus, considering its 1.93 times growth in one month, we can say that Near Protocol will need a minimum of 221 months (more than 18 years) to reach $1000. This is impossible to attain.
Further, at $1000, Near Protocol’s market cap would be $1.5 Trillion (half that of Apple’s Market Cap today). This too is not feasible
The only way NEAR protocol will be able to reach $1000 is by burning a larger proportion of the Tokens (Say 90%)
Will Near Protocol Reach $100?
NEAR crypto needs to grow by 60 times to reach $100. As it has shown a 1.93 times growth in one month (as calculated above), NEAR crypto will need roughly 33.21 months (less than 3 years).
Again, the macroeconomic factors and liquidity conditions are not similar to those when it reached its all-time high. Therefore, NEAR cannot be expected to show a similar growth that has been shown during that time. Therefore, it will certainly need much more time to reach a price level of $100, even when the economic factors ease out.
Will Near Protocol Reach $10?
To reach a price of $10, NEAR needs to grow by 6 times. Note that, NEAR crypto reached its all-time high price of $20.18 in January 2022, where it grew by 11.59 times in just 6 months (from the lowest value of $1.74 in July 2021). Hence, it grew by around 1.93 times in one month. Thus, NEAR just requires 3.32 months to reach a price level of $10.
However, the current market situation of liquidity and inflation is definitely not in favor of the crypto market. Therefore, it cannot even reach $10 in the time calculated above. Nonetheless, reaching $10 is a comparatively easy target for NEAR crypto if we go by its past price movements.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.