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January 17, 2022
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Overlooked Ethereum Challenger Could Soar 400% This Bull Market Cycle, According to Coin Bureau

The host of crypto channel Coin Bureau is saying that an under-the-radar Ethereum rival is primed for an epic rally earlier than the tip of the bull market. 

In a brand new video, pseudonymous crypto analyst Guy tells his 1.74 million subscribers that he’s bullish on Near Protocol (NEAR), a blockchain designed for scalability and stability that enables builders to construct decentralized functions at low price, enabling customers to handle high-value property like cash or identification.

According to Guy, the Rainbow Bridge, which permits customers to move crypto property between Ethereum and Near, has taken the coin’s on-chain fundamentals to better heights.

Transaction metrics on the Near blockchain are trending in the best course. The variety of day by day transactions has grown by 30x for the reason that introduction of the Rainbow Bridge in March and the whole quantity of gasoline spent is up practically 20x with no indicators of slowing down. 

These robust fundamentals are clearly reverted within the Near coin’s latest price motion and the medium-size market cap of Near protocol means it’s doable, if unlikely, that Near will pull one other 3x to 5x earlier than the bull market is over.”

Although Guy is bullish on the Ethereum challenger, he names a problem that would affect Near Protocol’s capability to develop. 

“Despite all the developments, updates, announcements, investments and having a fairly sizeable following, Near Protocol does not seem to have a very large userbase. Now I suspect this has something to do with the fact that the NEAR token is not currently trading on any US exchanges.”

The crypto analyst additionally mentions that Near may discover it troublesome to step out of the shadows of different bigger good contract platforms.

“The problem is that Near Protocol is losing ground to other crypto projects of similar caliber such as Ethereum (ETH) and especially Solana (SOL). I couldn’t help but notice that Near Protocol’s smart contracts are coded in Rust. Solana’s smart contracts also happen to be coded on Rust. This means that both projects are probably fighting over the small pool of Rust developers who are interested in cryptocurrency.”

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Featured Image: Shutterstock/Anna Berdnik/Yevhen Vitte/greenbutterfly

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