Značka: NEAR

Circle Product VP: USDC chain expansion part of 'multichain' vision

Circle Product VP: USDC chain expansion part of 'multichain' vision

podľa | sep 29, 2022 | 0 |

USD Coin (USDC) issuers Circle have announced that it will soon roll out its stablecoin across five additional networks including Polkadot, Optimism, NEAR, Arbitrum and Cosmos. The firm first dropped the news at the Converge22 event on Sept. 28, and noted that support for most of these blockchains will be rolled out by the end of 2023, while USDC on Cosmos will go live at the start of 2023. In a Sept. 28 statement, Circle’s vice president of Product Joao Reginatto emphasized that the expansion of USDC will provide “greater liquidity and interoperability within the crypto economy,” especially for the commercial sector. “Extending multi-chain support for USDC opens the door for institutions, exchanges, developers and more to innovate and have easier access to a trusted and stable digital dollar,” he said. 3/ Upon launch, developers will be able to use Circle APIs for fiat on/off-ramps to and from USDC in their products, as well as programmable wallets infrastructure.— Circle | #ConvergeSF22 | Sept 27-30 (@circlepay) September 28, 2022In a follow-up interview with Cointelegraph, Reginatto outlined that while Circle initially built USDC on Ethereum as move of the development and activity was happening there, it always had a vision that the future would be a “multichain world.” As such, Circle is expanding USDC support under the premise of devs preferring interoperability over working with just one network: “We knew already at the time that there were a lot of interesting things happening in other ecosystems, and we thought that over time developers and application builders; they are not going to be so much concerned about the Layer 1 or the Layer 2 infrastructure that they’re using.”“They will want interoperability, they will want flexibility to be able to port their solutions across ecosystems,” he added. Reginatto did note however, while Circle is pushing ahead with expanding USDC support, given the current size of the stablecoin — with a market cap of $48.9 billion — the firm won’t just jump behind any network. He outlined that Circle conducts a lot of due diligence before it selects the next blockchain to work with. “There’s a lot of risks that we have now that we perhaps didn’t have two or three years ago. So we take it with a lot of diligence. We have a team of folks across all the functions in the company kind of assessing all these ecosystems and prioritizing them over time.Once the extra support is officially rolled out, USDC will be available on a total of 13 blockchains. In comparison, Circle’s main competitor Tether currently lists USDT support for eight networks on its website. “Upon launch, developers will be able to use Circle APIs for fiat on/off-ramps to and from USDC in their products, as well as programmable wallets infrastructure,” Circle stated on Twitter. Related: Circle CEO says blockchain industry is transitioning from dial-up to broadband phaseCommenting on the use cases for USDC and stablecoins in the current context of crypto, Reginatto highlighted key avenues such as marketplace payouts, remittances, and global settlements for financial institutions. “There’s no real good interoperability across all these banking systems and regional rails. Stablecoins have a really, really good value proposition for that.” “Stripe utilizing USDC rails for marketplace payouts. Embedding that as part of their marketplace payouts products, just being able to reach people that their customers need to pay out, that with traditional rails they can’t reach. So that there is clear concrete value that the substrate can deliver for those kinds of use cases,” he added.

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Near Protocol eyes a Terra-like price rally after new $350M funding raise

Near Protocol eyes a Terra-like price rally after new $350M funding raise

podľa | apr 8, 2022 | 0 |

Near Protocol (NEAR) has rallied by almost 30% after announcing on April 6 that it had raised $350 million in a funding round led by Tiger Global, a New York-based hedge fund. NEAR price eyes 100% price rallyNEAR’s price reached over $19.75, just about 2.5% below its all-time high. However, many analysts agreed with the potential for the NEAR/USD pair to reclaim its best level to date, and even rise above it in the coming weeks.NEAR/USD daily price chart. Source: TradingViewAdoption remained the key focus behind the bullish predictions. For instance, Zoran Cole, the founder of the popular Telegram group Crypto Insiders highlighted that Near Protocol will announce the launch of its own native algorithmic stablecoin called USN as early as April 20.The stablecoin will reportedly use a Terra-like native token burn mechanism to maintain the U.S. dollar peg, effectively reducing NEAR supply. Additionally, as Cole asserted in his investment thesis, Near will offer stakers an annual percentage yield of around 20%, thus incentivizing DeFi capital rotation toward its pools and boosting NEAR’s demand simultaneously.2/ $USN by @NEARProtocol : https://t.co/kHNqXVuTSJ— Do Kwon (@stablekwon) April 8, 2022″This will lead to a comparison of Near to Terra as the narrative for attractive stablecoin yields proliferates,” he noted, adding:”Terra currently has a market capitalization of approximately $40 billion while Near sits at $10 billion. The catalysts above will strengthen Near’s fundamentals in both the short and long term and likely cause its market capitalization to appreciate by 100% at minimum over the next few months.”Slim Trady, a pseudonymous market analyst, also expects NEAR to reach new all-time highs, noting that there is “no substantial resistance left” on the coin’s chart that could cap its upside moves.Don’t act like nobody told ya about $NEAR.Patience. That’s all you’ve ever needed in this market.New ATHs are very #NEAR…teehee.✍️✅ https://t.co/M2QdtXvdE7— Slim Trady – non giver of ICP (@TradySlim) April 7, 2022

NEAR Coinbase listing near? Despite being in the top-20 crypto assets by market capitalization, NEAR remains listed only on a few crypto exchanges, including Binance, Huobi, KuCoin, and Upbit, limiting its exposure, especially in voluminous markets like the U.S.Related: Terra buys $200M in AVAX for reserves as rival stablecoins emergeBut Kole noted that Coinbase, one of the leading U.S.-based crypto exchanges, will list NEAR on its platform “in the next couple of months,” noting that it would help boost the coin’s retail visibility.”This also paves the way for Near NFTs to be integrated into Coinbase’s upcoming NFT marketplace.FTX, a crypto exchange headed by Sam Bankman-Fried, could also list NEAR pairs given its investment arm FTX Ventures being one of the backers in Near Protocol’s latest $350 million funding rebound.Price levels to watchFrom technical perspective, NEAR now eyes a run-up toward its current record high above $20.50.NEAR/USD daily price chart. Source: TradingViewA decisive break above the level, which coincides with the 1.0 FIb line of the Fibonacci retracement graph, drawn from $20.78-swing high to nearly $6-swing low, could have NEAR eye $29.70 as its next upside target.Conversely, a pullback risks putting NEAR’s price en route below its interim support near $17.55, with the next downside target at around $15.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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3 reasons why Near Protocol (NEAR) just hit a new all-time high

3 reasons why Near Protocol (NEAR) just hit a new all-time high

podľa | jan 14, 2022 | 0 |

The layer one (L1) battle is starting to heat up again and multiple protocols have seen their token values rise in recent weeks as traders venture out to see what life is like outside of the Ethereum (ETH) network. One L1 protocol that has seen its token price climb to a new all-time high this week was NEAR, a community-run cloud computing platform focused on interoperability and lightning quick transaction speed.Data from Cointelegraph Markets Pro and TradingView show that, following a pullback that hit a low of $13.10 on Jan. 9, the price of NEAR climbed more than 50% to establish a new record high at $20.36 on Jan. 14. NEAR/USDT 4-hour chart. Source: TradingViewThree reasons that contributed to the growing strength of NEAR include the successful completion of a $150 million funding round, the success of the Aurora cross-chain bridge protocol and an expanding ecosystem of projects and developers working on the NEAR network. NEAR raises $150 million in funding roundThe most recent price spike followed an announcement that the team had successfully closed its latest funding round, raising $150 million from a variety of investors including Dragonfly Capital, a16z, Alameda and Circle Ventures. @NEARProtocol raises $150M to boost ecosystem growth! #NEAR has announced the close of a $150 million funding round led by @zhusu’s Three Arrow Capital.Participants included @MechanismCap, @a16z, @dragonfly_cap, #Alameda and many more.Learn https://t.co/DjilZpkYPH— NEAR Blockchain (@NEAR_Blockchain) January 13, 2022NEAR plans to use the funds raised to accelerate the adoption of Web3 technologies via ecosystem funding, developing out regional hubs for the NEAR community to help raise awareness for the brand and by providing support to the projects building on the protocol. In addition to the communities established in Asia, Africa and Europe, NEAR is also looking to expand its reach to Latin America, Turkey and India. Aurora cross-chain bridgeA second factor behind the rise of NEAR over the past month was the successful launch of Aurora protocol. This platform is built on NEAR and it helps users and the decentralized applications that operate on the Ethereum network bridge to NEAR protocol.Aurora utilizes the Rainbow Bridge to facilitate the migration of assets between supported networks and has quickly become a popular protocol for cross-chain transfers with more than $732 million in total value locked, according to data from Defi Llama. As a result of the increased activity brought by the increased adoption of projects on NEAR and the migration of tokens from Ethereum, the daily transaction count on the NEAR network established a new record high of 721,061 transactions on Jan. 11.Daily number of transactions on NEAR. Source: NEARRelated: Which layer-one protocols will outperform in 2022?Ecosystem expansionA third development helping to boost the value of the NEAR ecosystem has been the growth of its developer community. There has been an increase in the number of projects launched or bridged to the NEAR network over the past two months. Developers on #NEAR get 30% of the txns fees spent on their contract!! – maybe one of many reasons why MAD on @NEARProtocol is growing rapidly and has shown 4x+ growth in 1 year! Top 3 in fastest-growing dev ecosystem pic.twitter.com/UCe9jYVRcG— THE NEARWEEK Ⓝ (@NEARWEEK) January 11, 2022

As seen in the tweet above, NEAR now has the third-fastest growing developer community across the whole of the cryptocurrency ecosystem, thanks in part to the fact that developers on NEAR get 30% of the transaction fees spent on their contract. This provides an income for developers in a field where compensation is not always guaranteed. The expanding developer community, combined with the release of a cross-chain bridge, has led to an expansion of the NEAR ecosystem which continues to grow and attract new projects. Projects in the NEAR ecosystem. Source: NEAR MatesVORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for NEAR on Jan. 9, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. NEAR price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for NEAR climbed into the green zone on Jan. 9 and hit a high of 75 around one hour before the price began to increase by 52% over the next four days. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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NEAR Protocol raises $150M to promote Web3 adoption

NEAR Protocol raises $150M to promote Web3 adoption

podľa | jan 14, 2022 | 0 |

Proof-of-stake blockchain NEAR Protocol has raised $150 million in seed investments to accelerate the adoption of Web3 technologies. The team announced that the fund would be used to develop regional hubs and raise awareness for blockchain and decentralized tech.NEAR Protocol aims to use the fresh funds to foster the adoption of Web3. According to the announcement, the funding will be used to “help billions of people learn and use blockchain.” With this, projects building on the NEAR blockchain will have the opportunity to connect with new audiences.The investment round was led by hedge fund Three-Arrows Capital, with additional participation from Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda, Zee Prime, Folius, Amber Group, 6th Man Ventures and Circle Ventures. MetaWeb.vc, the NEAR ecosystem fund, also participated in the seed round. Additionally, angels Alan Howard, Santiago Santos and Aave Founder Stani Kulechov joined the funding. “We are excited to support the NEAR team and ecosystem as they scale blockchain applications,” said Kyle Davies, the co-founder and chairman of Three-Arrows Capital.Meanwhile, Amos Zhang, the founder of MetaWeb.vc, expressed his support by saying that NEAR Protocol’s technologies are great for fostering blockchain adoption. “NEAR is best suited for empowering blockchain applications for mainstream adoption,” said Zhang.Related: Binance Labs backs $200M Oasis Ecosystem FundBack in 2021, NEAR protocol allotted $800 million for new initiatives to fund the acceleration of decentralized finance, while noting evidence that the DeFi market is still in its early stages. The move aims to encourage developers by adding incentives to build on the NEAR blockchain.Late last year, NEAR also partnered with Cardano-based stablecoin hub, Ardana. The collaboration aims to create a bridge infrastructure that will allow users to transfer assets from the NEAR protocol to its fellow proof-of-stake blockchain Cardano. With this, NEAR (NEAR) tokens will also serve as collateral on the Ardana platform to mint stablecoins.

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Ethereum dominates among developers but competitors growing faster

Ethereum dominates among developers but competitors growing faster

podľa | jan 6, 2022 | 0 |

The Ethereum ecosystem still has far more developers than rival networks, but they are catching up with a faster rate of growth.Ethereum competitors such as Polkadot, Solana, and Binance Smart Chain are growing faster in terms of development activity according to crypto research firm Electric Capital which released its findings on the blockchain development ecosystem in a new report on Jan. 6. It revealed that more than 4,000 monthly active open-source developers work on Ethereum — considerably more than the 680 who work on the Bitcoin network. Across all chains, the total monthly active developers measured was more than 18,400 and the record was broken for the number of code commits by new developers in 2021 with more than 34,000.The measurements were gleaned by analyzing around 500,000 code repositories and 160 million code commits, which are changes or updates to the code. The report noted that Ethereum, Polkadot, Cosmos, Solana, and Bitcoin are the five largest developer ecosystems overall.According to the report, Polkadot has around 1,500 developers in total, while Cosmos and Solana are around a thousand each. Other active ecosystems in terms of monthly developers were Cosmos, NEAR which launched an $800 million developer fund in October, Tezos, Polygon, and Cardano each with more than 250 active monthly developers.While Ethereum is still dominant — more than 20% of new Web3 developers joined its ecosystem — rival networks have seen greater growth.“Polkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing faster than Ethereum did at similar points in its history.”Ecosystem dev growth since first commit – Electric CapitalThe report compared the average monthly active developers between Dec. 2020 and Dec. 2021, noting that Solana grew by 4.9 times, NEAR had a 4X growth rate, and Polygon’s monthly developers more than doubled. Cosmos had a 70% increase in average monthly active developers and BSC 80% over the course of 2021.While the development growth figures are impressive for more early-stage projects, Ethereum is still the king. The ecosystem continues to retain the largest network of tools, dapps, and protocols and is 2.8 times larger than its closest rival, Polkadot.Related: ‘We are 50% of the way there,’ says Vitalik on Ethereum’s developmentSolana, Avalanche, BSC, NEAR, and Terra have emerged as DeFi hubs over the past year or so, attracting more developers as adoption increases. DeFi full-time monthly active contributors grew by 64%, and more than 500 new developers contributed code to a DeFi project every month last year aside from January, it reported.

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