NEAR Protocol Surges Ahead with New Partnerships and Developments: Is it a Market Leader?

NEAR Protocol (NEAR) is making waves in the crypto industry as it continues to surge forward with new partnerships and developments. Analysts are taking notice of NEAR’s remarkable performance, with some even dubbing it a “market leader” in the current bull run.

At the beginning of the week, crypto analyst World of Charts identified a bullish flag pattern on NEAR’s monthly chart, predicting a potential 60-65% bullish wave in the near future. NEAR tested the $7.00 resistance level on Thursday, reaching above $7.50 before retracing slightly.

Another analyst, Bluntz, has also been closely monitoring NEAR’s performance and believes that the token is one of the strongest movers in the market right now. He highlighted an ABC zigzag pattern followed by an impulse wave pattern, indicating further potential for price growth.

NEAR’s network expansion and partnerships are also contributing to its upward momentum. The protocol, known for its user-friendly and carbon-neutral blockchain, has seen its total value locked (TVL) double since Q4 2023, now ranking as the 16th largest blockchain by this metric. Recent collaborations with projects like NodeKit and TrueZK have further bolstered NEAR’s position in the market.

Despite being down from its all-time high, NEAR has shown impressive performance during the current bull run, with a 146% increase in the last three months. Its daily trading volume and market capitalization have also seen significant growth, solidifying its position as the 17th biggest cryptocurrency by market cap.

As of the latest data, NEAR is trading at $7.2, marking a 7.3% jump in the last 24 hours and a 26% rise in the past week. With ongoing developments and positive sentiment surrounding the project, NEAR Protocol is certainly one to watch in the crypto space.