2023-06-01
Near Protocol mainnet was launched on
October 2020. Since then it has become top crypto project in the eyes of many investors.
1. NEAR price
is undervalued.
Near has fully
diluted market cap of $1.55 billion. It has max supply of 1 billion NEAR. NEAR uses
for paying transaction fees on the network.
Layer 1 and
smart contract blockchains by fully diluted market cap.
Solana $11.32
billion.
Polkadot $6.89
billion.
Avalanche $10.11
billion.
Aptos $8.68
billion
Sui $9.61
billion
Near Protocol
$1.55 billion
Layer 2
blockchains by fully diluted market cap.
Polygon $8.89 billion.
Arbitrum $11.47
billion.
Optimism $6.00
billion.
As of June 1,
2023.
2. Advance
technology.
Near’s selling
point is sharding technology. Near started to implement sharding in November
2021. Sharding is the technology that separate transactions into many sections.
It allows Near to process up to 100,000 TPS.
Near Protocol
used delegate proof-of stake mechanism. It consumes as much energy in a year
Bitcoin does in 3 minutes.
Rust is
programming language uses for writing smart contracts on Near Protocol.
3. Near Protocol is well-funded.
Near raised $350 million in April 2022.
It has enough funding to develop its ecosystem and infrastructure. Many venture
capital firms invested in Near including Y-Combinator, Andreessen Horowitz, and
Tiger Global.
Why NEAR is undervalue?
The main reason NEAR is undervalue is
due to low adoption. Avalanche, Solana, Polygon, Arbitrum, and Optimism already
have some certain level of adoption. Avalanche DeFi’s ecosystem has almost $700
million of total value locked. TVL on Near is just $34 million. Adoption
remains challenge for Near development team.
However, if Near can increase adoption
in many sectors of crypto such as DeFi, NFTs, and gaming. The price of NEAR has
the potential to increase multiple times.
Conclusion
The selling point of NEAR is the price
is cheap when compare to other cryptocurrencies. NEAR could produce 10X return
in the next bull market with the valuation of 16 billion.
