NEAR Protocol price prediction: Why Is NEAR going up? Is NEAR a good investment? Check

With a price of $10.91 (12:17 p.m. IST, September 9, 2021), NEAR Protocol (NEAR) currently stands at the 31st position in the global cryptocurrency market. With an increased 24-hour trading volume of $2.154 billion (up by 27.20%), the total market cap of NEAR Protocol stands at $4.94 billion. 

The price of NEAR is up by 37% since yesterday. A 24 hour low and high price of NEAR Protocol has been recorded to be $7.42 and $10.92 respectively. The digital coin has doubled its value from a 7-day low price of $5.41, and an all-time-high price of $11.70 was recorded barely four hours ago. Keep reading for NEAR Protocol price prediction

NEAR price prediction 2022-2025

According to the WalletInvestor, the price of NEAR Protocol might dip in the upcoming year, reaching $9.632 in one year. However, the portal also predicts the price to rise as high as $23.676 in the next five years. According to DigitalCoin, the price of NEAR Protocol will rise up to $14.39 by the end of 2021. According to Gov.Capital, the price of NEAR Protocol will fall to $8.24 by the end of next year. 

Why is NEAR Protocol going up?

NEAR Protocol was built to facilitate and host decentralized applications in a better and efficient manner by developers Alex Skidanov and Illia Polosukhin. Near coin has gained trust among investors owing to its high speed and cost-efficiency. The engineering update which includes near-api-rs and new near-cli, along with promising results on improved web assembly speed might be one of the reasons for a surge in price. Additionally, the media hype and other events that are promoting the cryptocurrency are also causing the price to rise. 

Is NEAR Protocol a good investment?

Given the mixed predictions and volatile nature of the cryptocurrency market, it would be wise to hold for some time and let the coin settle. High surge rates have been followed by deep crashes in the crypto market. Experts and portals are divided on the short term performance of the Near coin but are united on the front that it will offer decent long term profits, as the price is expected to shoot up in the coming five years.