NEAR, a Near Protocol High-Performance Blockchain Core Cryptocurrency Token, Soars on $150M Fundraising Announcement
Near Protocol (NEAR) concludes yet another jaw-dropping funding round as it approaches its DeFi ecosystem release. The announcement sent the NEAR price to new historic highs.
NEAR Foundation secures $150 million, Three Arrows Capital led seed round
The NEAR Foundation, the organization behind Near Protocol Advances (NEAR) and affiliated products, has completed its latest round of strategic funding with $150 million raised, Coindesk reports.
VC legends Three Arrows Capital led the round with participation from other heavyweights: Andreessen Horowitz, Alameda Research, Dragonfly Capital, Amber Group and so on.
Previously, the NEAR Foundation announced its $800 million DeFi initiative. Of this massive sum, $300 million will power the ecosystem of decentralized finance protocols on Near.
Near Protocol is one of the most promising “Ethereum killers”; its team pioneered the concept of sharding, i.e., techniques that allows blockchain systems to be split up into multiple interconnected chains.
NEAR Price Goes Parabolic and Sets New Record High
Following this positive announcement, the NEAR price added 8% in two hours to set its new all-time high. At press time, NEAR is changing hands for $19.7 on major spot platforms.
As such, despite the exhausting retracement of crypto markets, the NEAR price is more than 35% YTD.
In the medium term, it took less than six months for the NEAR price to explode more than 12 times: its price hit a low of $1.59 on July 22, 2021.
