NEAR, a leading cryptocurrency token of high-performance blockchain near protocol, spikes on $150 million fundraising announcement
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- NEAR Foundation Receives $150 Million, Round Led by Three Arrows Capital
- Near price turns parabolic, new record set
Near Protocol (NEAR) concludes another massive funding round as it nears its DeFi ecosystem launch. The announcement pushed the price of NEAR to new all-time highs.
NEAR Foundation Receives $150 Million, Round Led by Three Arrows Capital
Near Foundation, the organization behind the advancement of Near Protocol (NEAR) and associated products, has completed its latest strategic funding round, raising $150 million, Coindesk reports.
VC Legends Three Arrows Capital led the round with participation from other giants: Andreessen Horowitz, Alameda Research, Dragonfly Capital, Amber Group and so on.
Earlier, the NEAR Foundation announced its $800 million DeFi initiative. Of this massive amount, $300 million will fuel the ecosystem of near-decentralized finance protocols.
Near Protocol is one of the most promising “Ethereum killers”; Its team pioneered the concept of sharding, i.e. technologies that allow a blockchain system to be split into multiple interconnected chains.
Near price turns parabolic, new record set
On this positive announcement, NEAR price surged 8% in two hours to establish a new all-time high. At press time, NEAR is trading above $19.7 on the main spot platform.
As such, NEAR is priced higher by more than 35% YTD, despite the tedious retracement of the crypto markets.
For a mid-term perspective, it took less than six months for NEAR to rocket more than 12x the price: it was priced at $1.59 on July 22, 2021.