NEAR, a Near Protocol High-Performance Blockchain Core Cryptocurrency Token, Soars on $150M Fundraising Announcement
- NEAR Foundation secures $150 million, Three Arrows Capital led seed round
- NEAR Price Goes Parabolic and Sets New Record High
Near Protocol (NEAR) concludes another jaw-dropping funding round as it approaches the release of its DeFi ecosystem. The announcement sent the NEAR price to new all-time 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 other heavyweights taking part: Andreessen Horowitz, Alameda Research, Dragonfly Capital, Amber Group, and more.
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”; his team pioneered the concept of sharding, i.e. techniques for splitting blockchain systems into several 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.
So, despite the exhausting retracement of the crypto markets, the NEAR price is above 35% year-to-date.
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.