- Near Protocol token has been in a strong uptrend in the past few months.
- The rally is mostly driven by the strong performance of Bitcoin.
- Aurora token has surged by over 410% from its November lows.
Near Protocol price has been in a strong uptrend in the past few months and is now hovering near its highest point this year. The token was trading at $2.10 on Monday, 116% above the lowest point this year. This rally has brought its total market cap to over $2.1 billion.
Aurora token surges
Near price has been in a strong rally recently, helped by the Fear of Missing Out (FOMO) in the crypto industry. Bitcoin has jumped to $40,700 while Ethereum has spiked to over $2,200. In all, the total market cap of all cryptocurrencies has jumped to more than $1.59 trillion.
Near Protocol price has also risen because of its fundamentals. For one, the Total Value Locked (TVL) has risen to more than $53 million. The biggest DeFi platforms in the ecosystem are Meta Pool, Linear Protocol, and Burrow.
The other big player in Near Protocol is Aurora, which is the next-generation Ethereum compatible ecosystem that runs on the Near Protocol. It is known for its fast speeds, with the average block time of less than 1 second and a transaction finality of less than 2 seconds.
Aurora is also quite cheap, with an average transaction cost going for less than $0.02 seconds. Some of the top crypto projects building on Aurora are The Graph, Curve, Gnosis Safe, and Synapse. It has over 244 projects in its ecosystem with a TVL of over $20 million.
Aurora crypto price surged to $0.24 on Monday, 410% from the lowest level in November. It has jumped to the highest point since May this year. The current rally is because the network unveiled Aurora Cloud Console, a platform where developers can view key details in a single place. Some of the features are customized blockchains, gas management, and other plug-and-play integrations.
Near Protocol price forecast
The daily chart shows that the NEAR price has been in a strong bullish trend in the past few months. Most recently, it formed a golden cross pattern, which happens when the 200-day and 50-day moving averages make a bullish crossover.
The Relative Strength Index (RSI) is approaching the overbought point at 70 while the MACD has remained above the neutral point. Therefore, the outlook for the NEAR price is bullish as buyers target the key resistance point at $2.418, the highest point in April this year.
