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3 reasons why the Near Portocol (NEAR) has hit a new all-time high



 Layer One (L1) solutions are becoming more popular at the moment and numerous protocols have seen their all-time highs in the past few days. One L1 solution that hit its all-time high this week and entered the top 20 cryptocurrencies by market cap is Near Protocol. We give 3 reasons why NEAR has now reached new heights. 


Reasons for Near Protocol Rally - 1. $150 million in investor funds

The latest major surge came after the announcement that the Near Protocol team had raised approximately $150 million in investor funds in its latest round of funding. This money comes from a variety of investors. These include Dragonfly Capital, a16z, Alameda and Circle Ventures. 


Near Protocol's plan is to use the investor funds to accelerate the adoption of Web3 technologies in its ecosystem . The team also wants to set up regional hubs for the NEAR community. In addition to communities in Asia, Africa and Europe, NEAR would like to build further communities in Latin America, Turkey and India.


Another factor in the massive near protocol gains was the successful launch of the Aurora protocol. This was built on NEAR and helps users and decentralized applications to bridge the Ethereum blockchain to NEAR. 


Aurora quickly became a popular protocol for conducting cross-chain transfers and now has a total locked value of $732 million. Due to the successful establishment of Aurora, the migration of tokens to the Near Protocol has increased massively in recent months, which has also benefited the token value.


Ecosystem expansion

A third development that has skyrocketed the value of Near Protocol is the growth of the developer community. There has been a massive increase in projects being launched on or bridged to near protocol. 


Meanwhile, the Near Protocol has the third fastest growing community of developers of any crypto ecosystem. One reason for this is that developers sometimes receive 30% of the transaction fees from their contract. This ensures that developers are paid. This is not the case for all networks in this area. 



The NEAR ecosystem is growing rapidly at the moment and is always attracting new different projects. In combination with the mentioned Aurora Bridge, NEAR is becoming more and more attractive for dApps. 

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