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NEAR Protocol

NEAR Protocol NEAR

Coin
NEAR Protocol Price (NEAR)
$3.55
2.64% Buy NEAR

0.0027 ETH

0.00018 BTC

Low: $3.53
High: $3.65
24h
Market Cap
$2,845,745,731
2.64%
Fully Diluted Market Cap
$3,547,572,433
2.64%
Volume
24h
$129,192,954
24.47%
Volume / Market Cap
0.0454
Circulating Supply
802,510,426 NEAR
100.00%
Max Supply
1,000,000,000
Total Supply
1,000,000,000
NEAR Protocol NEAR
Price: $3.55
2.64% Buy NEAR
NEAR Protocol (NEAR) Social Signals & Traffic Tracker
NEAR Protocol twitter
Twitter Stats
@NEARProtocol

Followers

643,763

3.85%

Following

1,374

0.07%

Tweet count

6,590

0.64%

Joined at Aug 21, 2018
NEAR Protocol reddit
Reddit Stats
r/nearprotocol

Subscribers

12,378

0.00%

Subreddit type

public

Moderators

35

0.00%

Joined at Oct 18, 2018
NEAR Protocol telegram
Telegram Stats
@cryptonear

Title

NEAR Protocol Official

Members

59,639

0.72%

NEAR Protocol traffic
Website Traffic
near.org

Website Rating (DR)

77 / 100

1.32%

Ahrefs Rank

25,027

10.56%

Organic Traffic (mo.)

49,738

16.49%

NEAR Protocol github
GitHub Organization
nearprotocol

Public repos

60

Type

Organization

Created at Aug 21, 2018
NEAR Protocol github
GitHub Repository
nearprotocol/nearcore

Stars

1,855

0.38%

Watchers

77

0.00%

Forks

372

0.54%

Language

Rust

Created at Aug 21, 2018

https://github.com/near

https://github.com/near

NEAR is a builder's fastest path to market. Do things that you didn't think were possible on blockchain. This channel is for tech and product discussions. Announcements: t.me/nearprotocolnews

NEAR Protocol Price statistics

NEAR Protocol Price
$3.55
Price change 24h
-$0.0936
2.64%
24h Low / 24h High
$3.53 /
$3.65
All Time High
Jan 16, 2022 (8 months 3 weeks ago)
$20.42
82.63%
All Time Low
Nov 04, 2020 (1 year 11 months ago)
$0.5260
574.20%
Trading Volume 24h
$129,192,954
24.47%
Volume / Market Cap
0.0454
Market Dominance
0.29%
Market Rank
#29
Market Cap
$2,845,745,731
2.64%
Fully Diluted Market Cap
$3,547,572,433
2.64%

Live NEAR Price Analysis

The current real time NEAR Protocol price is $3.55, and its trading volume is $129,192,954.26 in the last 24 hours. NEAR price has plummeted by 2.64% in the last day, and decreased by 1.04% in the last 7 days. It’s important to note that current NEAR Protocol market capitalization is $2,845,745,731.08, and the maximum supply is 1,000,000,000 NEAR coins. Talking about circulating supply, NEAR has 802,510,426 coins. Currently, NEAR Protocol rank on the market is #29.

NEAR Protocol price today is 82.63% below all time high, and it is 574.20% above all time low.

All data and prices are updated in real-time. The most active and popular exchanges for buying or selling NEAR are Binance, Kucoin & Kraken. Find more crypto exchange options on our Crypto Exchange Tracker. The most secure hardware wallets for keeping your cryptocurrency safe are Ledger and Trezor.

What Is the NEAR Protocol?

The NEAR coin is the native token of the NEAR Protocol, which is an open-source blockchain. It functions as a cloud computing project that is managed by a community. Essentially, the project aims to solve the scalability and usability issues that other blockchains face. This includes improving throughput, interoperability, and transaction speeds. Make sure to check the NEAR Protocol price chart above to see the live NEAR price.

Overall, NEAR's stated objective is to create a platform that is both secure and efficient enough to manage high-value assets. Besides, it allows developers to create decentralized applications (dApps) on top of the NEAR network.

NEAR Protocol is a Layer-1 blockchain, which means that it’s not built on another blockchain, it has its own base level. Usually, Layer-1 blockchains are known for having issues with scalability. However, NEAR Protocol aims to solve these issues.

Besides that, NEAR Protocol makes life easier for both newbies and developers. For example, it uses addresses that are easy to read for regular humans and creates dApps that have a similar registration process as the traditional apps do. By doing that, NEAR Protocol makes the complicated onboarding process much easier for beginners.

Talking about developers, NEAR Protocol provides them with modular components. This makes it possible for developers to roll out new token contracts or NFTs much faster.

Lastly, it’s important to mention that the Rainbow Bridge makes NEAR interoperable with Ethereum. It enables developers to use Ethereum assets and smart contracts on NEAR as well as send or receive ETH through the NEAR network.

The Story of the NEAR Protocol

The NEAR Protocol was developed by Erik Trautman, Illia Polosukhin, and Alexander Skidanov. The trio is pretty complex because it has an entrepreneur (Trautman), a former Google employee (Polosukhin), and a computer scientist (Skidanov).

Several winners from the International Collegiate Programming Contest (ICPC) are among the large and skilled NEAR Collective development team. According to the organization, some of the few large-scale sharded systems have been constructed by its members, which is what the protocol is trying to do as well.

On April 22, 2020, the NEAR Foundation introduced the Phase 0 mainnet of NEAR. In this phase, NEAR was run by employing a Proof-of-Authority consensus mechanism. Though later, during Phase 1, the NEAR Protocol started to involve the community in the decision-making processes.

However, the network didn't fully decentralize and become community-run until Phase 2 of the mainnet (the final version) launched on October 13, 2020.

How Does the NEAR Protocol Work?

One of the central solutions that Layer-1 blockchains employ is sharding. It's used to increase scalability and it works by splitting the network into discrete data sets called “shards”, which the network can then process in parallel.

The NEAR Protocol crypto project has its own version of the sharding mechanism called Nightshade. Similar to traditional sharding, this approach uses individual sets of validators to process transactions simultaneously across shards. However, unlike traditional sharding, the Nightshade method also creates chunks, which essentially are portions of upcoming blocks. Because of these chunks, a one-second block cycle is created, which allows NEAR Protocol to accomplish up to 100,000 transactions per second. At the same time, it manages to maintain extremely low transaction fees.

Apart from having its own sharding mechanism, the NEAR Protocol also has a custom Proof-of-Stake (PoS) consensus mechanism called Doomslug. The Doomslug mechanism employs two consensus rounds. When a block receives the first round of communication, it’s deemed to be finalized immediately. Rather than directly competing with one another based on stake, validators produce blocks alternatively. This allows the NEAR Protocol to have nearly instantaneous finality.

What Is the Purpose of NEAR Coins?

Essentially, NEAR is a utility token. It allows NEAR token holders to develop and use dApps on NEAR. Also, NEAR tokens are used to pay fees for utilizing these dApps. There are two types of fees on the NEAR network – transaction fees and data storing fees (users pay for each kilobyte of space utilized by an account).

Transaction fees are determined based on the complexity of the transaction. The fees are established in what are known as "gas" accounting units. 70% of the transaction fees are burned to keep the NEAR token deflationary, while the remaining 30% are returned to contracts that participated in transactions.

Besides that, NEAR acts as a governance token by allowing holders to participate in the voting process while deciding on future technological developments of the protocol, resource allocation across the network, and participant rewards. One NEAR coin is equivalent to one vote.

Lastly, staking NEAR tokens allows holders to run validator nodes on the network and earn staking rewards. The stake size is based on the total amount of NEAR that is being staked at that moment as well as the stakes made by other validators within the shard. The staking rewards are issued when validators execute transactions, create new blocks, and maintain the network overall. NEAR token holders can lend their tokens to staking pools that back validator rewards.

Also, don't forget to check out the aforementioned NEAR Protocol price chart to see the current (or previous) NEAR price.

Tokenomics of NEAR Coins

The max supply of NEAR coins is 1 billion, which was created with the genesis block of the NEAR blockchain. However, each year, epoch incentives worth 5% of additionally issued supply are distributed to support the network. 4.5% of this incentive goes to validators, while 0.5% goes to the NEAR treasury.

Overall, the total supply of NEAR tokens was allocated for community sale, foundation endowment, early ecosystem, core contributors, backers, community grants, and operation grants. The percentage of the portions that each sphere received was ranging from 6.1% to 17.6%.

Besides, talking about the NEAR Protocol price, it should be noted that it’s prone to crypto market changes. This means that, as the whole crypto market fluctuates, so does the NEAR price. However, this is usually the case with most crypto assets because the whole market is almost never stable due to various internal and external aspects.

The Fund of NEAR Protocol

NEAR announced an $800 million fund dedicated to projects that aim at boosting the NEAR Protocol ecosystem's expansion on October 25, 2021. Proximity Labs dedicated $350 million to this fund.

NEAR concentrates on supporting teams that are actively innovating and redesigning the way people interact with money through decentralized finance. Additionally, NEAR seeks to find projects that focus on developing non-fungible tokens, decentralized autonomous organizations, and crypto-based games.

Out of the total amount of $800 million, $100 million was dedicated to the Startup Grant Pools. 20 businesses from these pools had a right to get $5 million each. Besides that, $250 million was dedicated to helping scale ongoing crypto projects.

What's NEAR Protocol trading volume in the last 24 hours?

NEAR has a trading volume of $129,192,954.26 in the last 24 hours.

What's NEAR Protocol highest price ever?

NEAR has a highest price of $20.42, which was reached on Jan 16, 2022 (8 months 3 weeks ago).

What's NEAR Protocol lowest price ever?

NEAR has a lowest price of $0.5260, which was reached on Nov 04, 2020 (1 year 11 months ago).

What are the best exchanges for buying and selling NEAR?

Currently, the most active and dominating exchanges for buying and selling NEAR Protocol are Binance, Kraken & Kucoin. The most popular NEAR Protocol trading pairs are NEAR/USDT (on Binance ), NEAR/BUSD (on Binance ), NEAR/BTC (on Binance ). Head to the Crypto Deal Directory to access custom & exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.

What are the safest hardware wallets for keeping NEAR?

According to an in-depth review process and testing, Ledger and Trezor are one of the safest and most popular hardware wallet options for keeping NEAR Protocol. For exclusive discounts and promotions on best crypto wallets, visit Crypto Deal Directory.

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Current market Price of a specific cryptocurrency.

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The cryptocurrency's market Price changes in percent within the last 24 hours (1 day).

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The highest historical cryptocurrency value.

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The lowest historical cryptocurrency value.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.

Market Capitalization = Circulating Supply x Current Price.

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FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

Learn this metric

FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.

FDMC = Max Supply x Current Price.

Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.

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It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

Learn this metric

It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It's a direct cryptocurrency's supply & demand indicator, and is purely related to its market price.

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The current cryptocurrency Market Capitalization Dominance among all other cryptocurrencies in the market.

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The ratio of Volume and Market Capitalization values.

The ratio of Volume and Market Capitalization values.

Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked (are available to be traded publicly).

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Verified Data

NEAR Protocol project's Circulating Supply has been verified and is equal to:

Circulating Supply

802,510,426 NEAR

The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency's lifetime. Similar to stock market's Fully Diluted Shares.

Note: Max Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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The quantity of all coins/tokens that have ever been issued (even if the coins are locked), minus all coins/tokens that have been removed from circulation (burned). The Total Supply is similar to stock market's Outstanding Shares.

Total Supply = All Issued Coins - Burned Coins.

Note: Total Supply will be undefined and marked as "--" if project owners did not verify / provide any data.

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