Coin Bureau host Guy, a popular crypto analyst, says the price of Ethereum rival Near Protocol (NEAR) is poised to rise as on-chain metrics show massive demand for its decentralized application platform. Analyst’s comments on the altcoin continue in our news…
Analyst: ETH rival this altcoin will make a big splash
The analyst, nicknamed Guy, the host of the crypto YouTube channel Coin Bureau, gave YouTube subscribers the Ethereum rival altcoin project Near Protocol He said the number of daily transactions and projects being built in (NEAR) has more than doubled since December 2021. The analyst also notes that this is potentially lucrative news for the altcoin protocol’s market cap. Guy, whose analysis we follow closely as
Kriptokoin.com, also states that the unique wallet addresses locked to the protocol and the total value have also recorded an impressive growth. The popular crypto analyst’s comments on the altcoin are as follows:
The best part is that Near Protocol’s market cap is still in the mid-range, so it still has a lot of room to grow. For Near Protocol to break into the top ten, NEAR will need to triple in price, and I think that’s a reasonable target if we don’t enter a bear market.
What are the necessary conditions for NEAR to rise? As for whether
NEAR will become one of the ten largest cryptocurrencies by market cap, Guy says it will depend on upcoming milestones. Of those mentioned in Near Protocol’s official roadmap, the analyst states that the most important is dynamic resharing, which will allow the altcoin project’s blockchain to automatically scale as demand increases or decreases. Guy reveals the following on the subject:
Let me reiterate what I believe to be the most important of the milestones outlined in the roadmap is dynamic resharding, which is expected to be implemented before the end of the year. Dynamic resharding will enable Near Protocol to automatically create and destroy shards based on Blockchain demand. This thing is simply that if a piece is used by too many people it will automatically split into two and pieces that don’t have many users will automatically merge so that the validators don’t waste resources and secure the redundant pieces. In theory, dynamic resharding would make Near Protocol infinitely scalable.
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