Near Protocol Closes $150M Funding, NEAR Price Eyes $20

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NEAR protocol has managed to close substantial funding round from top cryptocurrency investors in preparation for a further DeFi-oriented advance.

  • NEAR Protocol has closed $150 million in funding from high-profile investors, reported CoinDesk.
  • Some of the names include Alameda Research, Su Zhu’s Three Arrows Capital, Dragonfly Capital, Andreessen Horowitz (a16z), and others.
  • The funding reportedly happened through a private token sale. It was completed in two weeks which is indicative of the high interest in the protocol.
  • Speaking on the matter was Ashwin Ramachandran – a General Partner at Dragonfly, who said:

Near has done a great job from a technology standpoint, and we want to help them achieve a level of developer, user, ecosystem adoption which reflects their current level of technology innovation.

  • The price at which the token sale happened was not disclosed.
  • Yet, after news broke out, NEAR’s price skyrocketed, and it currently eyes $20.
Source: TradingView