Near Protocol Price Prediction 2024: NEAR Price Analysis
What's next for NEAR?
Key Takeaways
- Near Protocol saw an increase in users in 2023.
- NEAR has shot up in recent weeks.
- Our Near Protocol price prediction says NEAR could reach $17 next year.
The Near Protocol blockchain saw its users increase tenfold in 2023, with NEAT inscriptions launching in November. These served as the platform’s equivalent of non-fungible tokens (NFTs), helping attract people to the network.
About a year ago, Near Protocol – one of many systems set up to serve as some kind of rival to Ethereum (ETH) – announced that it would work with Alibaba Cloud, the computing and storage arm of Chinese tech giant Alibaba. This partnership would potentially see the system’s technology accessed by nearly one billion Alibaba customers. However, it dropped over the following months before making a recovery of sorts in October and November.
This upsurge was, in part, triggered by the KAIKAINOW platform, which allows people to access curated content without unlocking their mobile phones.
In September 2024, NEAR climbed steadily, moving from under $4 to over $5. By Sept. 24, 2024, NEAR was worth about $5.20.
Let’s now examine our Near Protocol price prediction. We’ll also examine the Near Protocol price history and explain a little about what It is and what it does.
Near Protocol Coin Price Prediction
| Minimum NEAR Price Prediction | Average NEAR Price Prediction | Maximum NEAR Price Prediction | |
|---|---|---|---|
| 2024 | $3 | $6.70 | $9 |
| 2025 | $6 | $12 | $17 |
| 2030 | $10 | $25 | $40 |
Near Price Prediction 2024
By 2024, NEAR will likely continue its upward momentum, having already started a new bullish phase following its August 2023 low. If the five-wave structure plays out as expected, NEAR could reach $6.70, with the potential to peak around $9.00 by the end of 2024. However, if bullish momentum stalls or corrections occur, it may return to a low of $3.00, forming a solid support base.
Near Price Prediction 2025
In 2025, NEAR could build on its previous rally and breakthrough higher resistance levels, especially if adoption and ecosystem development grow. The five-wave pattern may push NEAR towards $12.00 on average, with a max target of $17.00 if broader market conditions are favorable. Even in more conservative scenarios, it’s likely to maintain a minimum price of $6.00, supported by the base established in the prior year.
Near Price Prediction 2030
By 2030, NEAR could reach its full potential as blockchain technology matures. Long-term bullish momentum and increased use cases might push its price to a maximum of $40.00. The average price could stabilize around $25.00, with $10.00 as a conservative minimum, reflecting its established market position and consistent growth over time.
Near Price Analysis
From January 2022 to October 2023, NEAR endured a prolonged bear market, falling from $20 to $1.
It then rallied over 886%, reaching $9 by March 2024, marking the start of a new bullish trend.
Read More: Pi Network Price Prediction 2024: PI Price Analysis
Wave analysis suggests this rally is the first of a five-wave pattern. After a correction to $4 and a lower low of $3 on August 5, the Relative Strength Index (RSI) signaled a reversal. A new upward trend began on September 6, with NEAR rising 57%, potentially entering its next bull phase. However, to confirm this, NEAR must surpass its August 25 high.
Short-term Near Price Prediction
Since Sept. 6, NEAR appears to have started a five-wave upward move, with its next target at the 1.618 Fibonacci extension level of $6.70. If momentum continues, NEAR could reach $8.
Near Protocol Average True Range (ATR): NEAR Volatility
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On Sept. 24 2024, Near Protocol’s ATR was 0.139, suggesting average volatility.
Near Protocol Relative Strength Index (RSI): Is NEAR Overbought or Oversold?
NEAR Price Performance Comparisons
Best Days and Months to Buy Near Protocol
We looked at Near Protocol’s price history and found the lowest points on certain days, months, quarters, and even weeks in the year, suggesting the best times to buy NEAR.
| Day of the Week | Wednesday |
| Week | 52 |
| Month | March |
| Quarter | First |
Advantages and Disadvantages of Near Protocol
Blockchain analytics company Messari recently released its latest quarterly report on Near Protocol. The company outlined some key advantages and disadvantages to the blockchain.
Messari found that, between January and March 2024, Near Protocol:
- Had 1.2 million active daily addresses, up from 100,000 year-on-year and up from 868,800 quarter-on-quarter.
- Had an average market cap of $7.2 billion, up from $1.7 billion year-on-year and quarter-on-quarter from $3.7 billion.
- Made $1.9 million in revenue, up from $100,000 the previous year and up from $1.1 million the previous quarter.
- Had 2.4 million daily transactions, up year-on-year from 400,000 and up from 700,000 quarter-on-quarter.
Advantages of Near Protocol
Messari said that Near Protocol
- Was becoming one of the most popular platforms on the blockchain.
- Was working well on becoming more decentralized.
- Had cashed in on NEAR inscriptions.
Disadvantages of Near Protocol
Messari also said that
- NEAR would have to deal with being accused of serving as an unregistered security by the SEC.
- Could still make its platform easier to use.
- Had seen its active validators plateau.
NEAR Price History
Following that, let’s now take a look at some of the key dates in the Near Protocol price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Near Protocol price prediction.
| Time period | Near Protocol Price |
|---|---|
| Last week (Sept. 17, 2024) | $4.29 |
| Last month (Aug.24, 2024) | $5.24 |
| Three months ago (June 24, 2024) | $5.58 |
| One year ago (Sept. 24, 2023) | $1.11 |
| Launch price (Oct. 14, 2020) | $1.69 |
| All-time high (Jan. 16, 2022) | $20.42 |
| All-time low (Nov. 4, 2020) | $0.526 |
Near Protocol Market Cap
Who owns the most Near Protocol (NEAR)?
On Sept. 24 2024, a wallet held more than 4% of the supply of NEAR.
Richest NEAR Wallet Addresses
As of Sept. 24 2024, the five wallets with the most NEAR were
- 0x0000000000000000000000000000000000001004. This wallet held 474,296 NEAR, or 4.33% of the supply.
- 0x21d45650db732ce5df77685d6021d7d5d1da807f. This wallet held 411,938 NEAR, or 3.76% of the supply.
- 0x1a34f9f7a8252a9381cec640a1c03355bdead42b. This wallet held 399,861 NEAR, or 3.65% of the supply.
- 0x91dca37856240e5e1906222ec79278b16420dc92. This wallet held 323,940 NEAR, or 2.96% of the supply.
- 0xaf36ff4504afe98c4661a39960adc6b3b10abe00. This wallet held 283,974 NEAR, or 2.59% of the supply.
Near Protocol Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Total supply | 1,211,839,605 |
| Circulating supply (as of Sept. 24 2024) | 1,132,512,364 (93.45% of total supply) |
| Holder distribution | Top 10 holders own 26.44% of supply (as of Sept. 24 2024) |
From the Near Protocol Whitepaper
According to Near Protocol’s technical documentation, or whitepaper , the platform is designed to help people build, develop, and grow applications.
It says: “NEAR is built from the ground up to deliver intuitive experiences for end users, scale capacity across millions of devices, and provide developers with new and sustainable business models for their applications. In doing so, NEAR is creating the only community-run cloud strong enough to extend the reach of Open Finance and power the future of the Open Web.”
Near Protocol (NEAR) Explained
Near Protocol is a blockchain that aims to be faster than the average, thus saving people time and money if they want to do things. Founded in 2017 by crypto entrepreneurs, it aims to deliver the quickest speeds available.
Based on a platform called Doomslug, the protocol can add blocks to the blockchain after just one round of validation, significantly fewer than many of its rivals.
It also does something a bit differently: rather than having a wallet address consisting of a string of numbers and letters, it allows people to have a “human-readable” name. The idea behind this is that, by doing so, the system is more user-friendly and, potentially, easier for people who aren’t highly experienced with blockchain technology to pick up.
Near Protocol also supports the creation of decentralized applications (DApps).
The system has its crypto coin, NEAR.
How Near Protocol Works
Along with its Doomslug technology, Near Protocol uses a process called sharding, particularly Nightshade sharding. Put simply, this means that the blockchain is broken into smaller segments, which means that it is, at least in theory, quicker.
Rather than being controlled by either a normal business or one single decentralized autonomous organization (DAO), Near Protocol is split into seven departments, called guilds, which operate as independent DAOs.
The NEAR coin itself is used to govern the network, with holders able to vote on proposals affecting the system’s future, and it can also be bought, sold, and traded on exchanges. Because Near Protocol uses a Proof-of-Stake consensus mechanism, holders can add blocks to the blockchain and earn rewards based on how much NEAR they have.
Is Near Protocol a Good Investment?
It is hard to say. We still don’t know if NEAR will gain any traction. The news that it is to team up with Alibaba is certainly encouraging, as it could help give the system usage to a company whose customers might not bother with crypto. Not only that, but Alibaba’s work with AI company Nvidia also helped push the NEAR price up earlier this year. Any increase in a platform’s utility and prominence should benefit its native token, and NEAR responded well to events. The KAKINOW screen lock platform has also helped bring new users to Near Protocol.
On the other hand, Near Protocol lives under the shadow of the SEC’s claim that it is an unregistered security. Not only that, but considering that it is one of the blockchains to be dubbed an “Ethereum Killer,” the overall health of ETH might lead someone to wonder whether Near Protocol is not getting the sort of attention it could.
As always with crypto, you must research before deciding whether or not to invest in NEAR.
Will Near Protocol go up or down?
No one knows for sure. While price predictions are broadly optimistic, they are usually wrong. Also, remember that prices can and do go down as well as up.
Should I invest in Near Protocol?
Before you decide whether or not to invest in Near Protocol, you should do your research, not only on NEAR but on other similar coins and tokens, such as Ethereum, Cardano (ADA), and Solana (SOL). You must also make sure that you never invest more money than you can afford to lose.
FAQs
Will Near Protocol reach $10?
It could well do. Our NEAR price prediction says it could reach that level as soon as next year.
What is Near Protocol used for?
NEAR is the native token of the Near Protocol blockchain. It is used to give people the right to vote on changes to the network and to add blocks to the blockchain. It can also be bought, sold, and traded on exchanges.
