Following a significant price surge for NEAR, attention is turning to whether new protocol developments, such as a proposal to reduce new token creation, will support continued interest.
NEAR posts strong gains
The price of NEAR surged by
↗15%
in the last 24 hours, leading its category while the broader market declined by
↘1%
. This daily performance outpaced competitor ICP, which rose
↗13%
, and contributed to NEAR's
↗38%
weekly gain.
Proposal aims to reduce new token supply
A community vote is underway for a halving upgrade
intended to reduce the rate at which new NEAR tokens are created. This type of change is designed to manage the token's overall supply.
New products and partnerships expand use
NEAR recently launched a Staking ETP, an investment product designed for large-scale institutional investors. In addition, Zcash's Zashi wallet
has begun using the network for private transactions.