The NEAR protocol has managed to close a substantial funding round from top cryptocurrency investors in preparation for a new DeFi-oriented advance.
- The NEAR Protocol has closed $150 million in funding from top-tier investors, CoinDesk reported.
- Some of the names include Alameda Research, Su Zhu’s Three Arrows Capital, Dragonfly Capital, Andreessen Horowitz (a16z) and others.
- Funding was reportedly obtained through a private token sale. It was completed in two weeks, which testifies to the great interest in the protocol.
- Speaking on this, Ashwin Ramachandran, General Partner of Dragonfly, said:
Near has done a great job from a technology perspective, and we want to help them achieve a level of developer, user, and ecosystem adoption that reflects their current level of technology innovation.
- The price at which the token sale took place was not disclosed.
- Yet, after the news broke, NEAR’s price skyrocketed and it is currently targeting $20.
Binance Free $100 (Exclusive): Use this link to sign up and receive $100 free and 10% off Binance Futures fees for the first month (terms).
PrimeXBT Special Offer: Use this link to sign up and enter code POTATO50 to get 25% off trading fees.