Popular crypto analyst and trader Michaël van de Poppe thinks one Ethereum (ETH) challenger could be primed to take off on a price surge. Van de Poppe tells his 582,000 Twitter followers that Near Protocol (NEAR) is probably “ready for a big run” after it finds a support level. NEAR is the native token of […]
The post Crypto Strategist Predicts Big Run for One Ethereum Competitor, Updates Forecasts for ETH and Skale (SKL) appeared first on The Daily Hodl.
A widely followed crypto analyst says that Dogecoin (DOGE) competitor Shiba Inu (SHIB) and one Ethereum (ETH) challenger will have strong rallies during this market cycle. The pseudonymous analyst Altcoin Sherpa tells his 172,000 Twitter followers that he’s sitting tight on a stack of SHIB waiting for a price explosion. According to the trader’s analysis, […]
The post Analyst Predicts Shiba Inu (SHIB) Moves Hard This Cycle, Says One Ethereum (ETH) Rival Will Be Top Performer appeared first on The Daily Hodl.
Following a gain of over 25% on Friday, NEAR dropped by over 10% to start the weekend, while XMR rose to a four-month high. The move in NEAR comes as traders look to be taking profits from recent highs, and as market uncertainty remains high. Near Protocol (NEAR) After being Friday’s biggest gainer, climbing by […]
An Ethereum (ETH) challenger is surging after blue-chip investors poured hundreds of millions of dollars into the crypto project. According to a new report by Bloomberg, Near Protocol (NEAR) just raised $350 million led by tech investment firm Tiger Global, nearly double what it acquired through fundraising just three months ago. NEAR is a layer-1 […]
The post One Ethereum Rival Is Exploding As Institutional Investors Pile In – And It’s Not Solana, Avalanche or Cardano appeared first on The Daily Hodl.
NEAR rallied by over 25% on Friday, as speculation grew that Near Protocol was set to create a rival stablecoin to Terra’s UST. LUNA fell on the news, as Terra labs plans to purchase around $100 million worth of AVAX, in order to strengthen its own reserves. Near Protocol (NEAR) NEAR was the biggest gainer […]
NEAR's price could extend gains following the launch of a new algorithmic stablecoin USN.
Near Protocol (NEAR) has rallied by almost 30% after announcing on April 6 that it had raised $350 million in a funding round led by Tiger Global, a New York-based hedge fund.
NEAR's price reached over $19.75, just about 2.5% below its all-time high. However, many analysts agreed with the potential for the NEAR/USD pair to reclaim its best level to date, and even rise above it in the coming weeks.
Adoption remained the key focus behind the bullish predictions. For instance, Zoran Cole, the founder of the popular Telegram group Crypto Insiders highlighted that Near Protocol will announce the launch of its own native algorithmic stablecoin called USN as early as April 20.
The stablecoin will reportedly use a Terra-like native token burn mechanism to maintain the U.S. dollar peg, effectively reducing NEAR supply.
Additionally, as Cole asserted in his investment thesis, Near will offer stakers an annual percentage yield of around 20%, thus incentivizing DeFi capital rotation toward its pools and boosting NEAR's demand simultaneously.
2/ $USN by @NEARProtocol : https://t.co/kHNqXVuTSJ
— Do Kwon (@stablekwon) April 8, 2022
"This will lead to a comparison of Near to Terra as the narrative for attractive stablecoin yields proliferates," he noted, adding:
"Terra currently has a market capitalization of approximately $40 billion while Near sits at $10 billion. The catalysts above will strengthen Near’s fundamentals in both the short and long term and likely cause its market capitalization to appreciate by 100% at minimum over the next few months."
Slim Trady, a pseudonymous market analyst, also expects NEAR to reach new all-time highs, noting that there is "no substantial resistance left" on the coin's chart that could cap its upside moves.
Don't act like nobody told ya about $NEAR.
— Slim Trady - non giver of ICP (@TradySlim) April 7, 2022
Patience. That's all you've ever needed in this market.
New ATHs are very #NEAR...teehee.
✍️✅ https://t.co/M2QdtXvdE7
Despite being in the top-20 crypto assets by market capitalization, NEAR remains listed only on a few crypto exchanges, including Binance, Huobi, KuCoin, and Upbit, limiting its exposure, especially in voluminous markets like the U.S.
Related: Terra buys $200M in AVAX for reserves as rival stablecoins emerge
But Kole noted that Coinbase, one of the leading U.S.-based crypto exchanges, will list NEAR on its platform "in the next couple of months," noting that it would help boost the coin's retail visibility.
"This also paves the way for Near NFTs to be integrated into Coinbase’s upcoming NFT marketplace.
FTX, a crypto exchange headed by Sam Bankman-Fried, could also list NEAR pairs given its investment arm FTX Ventures being one of the backers in Near Protocol's latest $350 million funding rebound.
From technical perspective, NEAR now eyes a run-up toward its current record high above $20.50.
A decisive break above the level, which coincides with the 1.0 FIb line of the Fibonacci retracement graph, drawn from $20.78-swing high to nearly $6-swing low, could have NEAR eye $29.70 as its next upside target.
Conversely, a pullback risks putting NEAR's price en route below its interim support near $17.55, with the next downside target at around $15.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Despite the global cryptocurrency market cap mainly consolidating on Tuesday, LUNA and CELO were some of the session’s biggest gainers. ZIL, on the other hand, continued to fall following recent highs, trading over 15% lower during today’s session. CELO ZIL fell for a fourth straight session on Tuesday, as prices continue to slip away from […]
Popular crypto strategist Michaël van de Poppe is predicting what’s in store for decentralized oracle network Chainlink (LINK), Ethereum rival Near (NEAR) and three additional altcoins. Van de Poppe tells his 580,200 Twitter followers that he’s looking at Chainlink against Ethereum (LINK/ETH) with the goal of finding a coin that will outperform Ethereum. “I still […]
The post Here’s What’s Ahead for Chainlink, NEAR and Three Other Altcoins, According to Analyst Michaël van de Poppe appeared first on The Daily Hodl.
