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NEAR protocol price prediction: Can it keep rising?


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NEAR coin price prediction
NEAR protocol price prediction: Can it keep rising? Photo: Mahambah / Shutterstock.com

NEAR Protocol (NEAR) is a layer-1 blockchain that was established as a community-run cloud computing platform, according to its whitepaper.

A layer-1 blockchain is a series of solutions that enhance the base protocol to transform the network into a more scalable system. The advantage of a layer-1 blockchain is that there is no need to add anything on top of the current blockchain infrastructure.

It offers a suitable environment for decentralised applications (dApps).

After falling victim to 2022’s bear market, the system's native NEAR coin is rallying as the protocol gears up to its three day developer event in Lisbon.

The launch of NEAR coin

Erik Trautman, founder of Viking Education, set up NEAR in August 2018. The project has a strong team of developers. Among its co-founders are AI researcher Illia Polosukhin and Alexander Skidanov, ex-Microsoft computer scientist and former director of engineering at memSQL.

NEAR is built by the community, called NEAR Collective, which takes care of the initial code and releases updates. The protocol has also been used as a base for several projects such as Flux and non-fungible token (NFT) minting platform Mintbase. Flux enables developers to establish markets based on assets, commodities and real events.

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NEAR coin price analysis: Will it test new highs?

NEAR/USD price chart, all-time performance

Source: CoinMarketCap

The NEAR coin launched on 14 October at $1.69 and has since seen mostly positive price action. According to the coin’s price chart, it’s been testing new highs since July 2021.

The near crypto price jumped above the $5 mark in August 2021 and above the key $10 psychological barrier the following month.

While other coins were struggling amid the 2022 bear market, NEAR was thriving. The cryptocurrency rocketed to its all-time high of $20.42 on 16 January.

After correcting below the $10 level in February, it started surging again in April. It peaked at a high of $19.64 on 8 April.

NEAR proved vulnerable to the recent crypto crash. Its value plummetted below $5 and was trading at a 52-week low of $2.90 on 18 June.

At the time of writing, on 8 September, NEAR had started to recover. The cryptocurrency was trading at $4.45 and up almost 5% over the past seven days. It was also ranked 25 out all cryptocurrencies with its market capitalisation of $3.4bn.

Changes in leadership

The appointment of John Smith as NEAR’s chief information security officer was announced 29 October. Chris Ghent became global head of brand strategy and partnerships of NEAR Foundation on 2 November.

According to NEAR, Smith is leading the company’s information security strategy, working closely with core development teams, partners and the NEAR community. Ghent is working on building the NEAR Foundation’s strategy of creating a scalable, easy-to-use and secure blockchain.

XRP/USD

0.49 Price
+0.520% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

LUNA/USD

2.52 Price
0.000% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee -0.0500%
Overnight fee time 21:00 (UTC)
Spread 0.0508

ETH/USD

1,335.66 Price
-2.120% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 5.00

BTC/USD

20,038.70 Price
-1.650% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 60.00

Global executive Marieke Flament was appointed as the new CEO, effective 1 January 2022. Flament brought with her international business experience, along with in-depth knowledge of cryptocurrencies and the world of fintech.

Recent Near Protocol news

Near’s recent surge of 4.5% over the past week comes as it prepares for its own large scale developer event in Lisbon.

NEARCON is set to take place between 11 and 14 September 2022 with more than 2,000 attendees and notable speakers, including Mary Beth Buchanan from the Cardano Foundation board and Haseeb Qureshi who is the managing partner at Dragonfly Capital, expected to attend. 

This event comes on the back of NEAR seeing a surge in new accounts being registered with the blockchain. On 4 September, the protocol recorded over 360,000 new accounts over the past seven days, a rise of 15.5% from the week prior.

Let’s now take a look at the technical aspects to get a better idea of what NEAR coin’s future performance could be.

NEAR coin technical overview

According to CoinCodex, investor sentiment around the coin at the time of writing (8 September) was neutral, based on 14 bullish technical analysis price indicators and 12 bearish signals. The Fear & Greed Index, however, pointed toward ‘extreme fear’.

CoinCodex estimated the value of NEAR Protocol could plunge by -26% and hit $3.30 by 7 October.

Taking into account the coin’s key price levels based on previous data, the classical pivot point on 8 September was $4.28, with support levels at $ 4.14, $ 3.91, and $ 3.78

The coin’s resistance levels were at $4.51, $4.65 and $4.88.

Near protocol price prediction: Short and long term

In its NEAR token price prediction, algorithm-based price forecasting service Wallet Investor suggested that the token was a “bad” investment. Its near coin price prediction for 2022 said it would have dropped below $0.37 in a year.  

DigitalCoinPrice provided a more bullish near coin prediction. According to the forecaster, the coin’s price could increase to $5.88 in 2022 and $14.11 in 2024. Its near coin price prediction for 2025 said it would have climbed to $17.88 and achieved $62.62 in 2030.

A similar forecast was provided by Price Prediction. The site said NEAR would average out at $4.27 this year and $18.91 in 2025. Its near coin price prediction for 2030 gave an optimistic value of $110.09.

When considering a near crypto price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.

FAQs

Is near protocol a good investment?

Whether or not NEAR Protocol is a good investment will depend on several factors, including the company’s deals and collaborations, and product launches. At the time of writing (8 September), the coin’s outlook from several algorithm-based platforms, such as DigitalCoinPrice, was bullish.  However, Wallet Investor anticipated it to fall below $1.

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the near coin is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

Will near protocol go up or down?

Algorithm-based platforms such as DigitalCoinPrice and Price Prediction, the token appeared ‘bullish’, suggesting NEAR cryptocurrency could likely have a future. However, Wallet Investor suggested it was a "bad" investment. 

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether NEAR is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

Should I invest in near protocol?

As of 8 September, near was up 4% over the past seven days as it gears up for its developer conference in Lisbon. However, the cryptocurrency has lost 70% year-to-date.

Whether you should invest in NEAR is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.

Further reading

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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