According to crypto channel Coin Bureau moderator, rival ETH is gearing up for an epic rally ahead of the end of the bull market.
In one video, New Anonymous Analyst Guy is optimistic about Near Protocol (NEAR), a blockchain that is scalable, stable, and allows developers to build decentralized applications for a fraction of the cost of identification.
According to Guy, the Rainbow Bridge allows users to move cryptocurrencies between Ethereum and Near, taking the coin’s on-chain basis to the next level.
“The trading indicators of the nearest blockchain are moving in the right direction. The number of daily transactions has increased 30 times since the launch of the Rainbow Bridge in March, and the total volume of gas released has increased almost 20 times with no signs of slowing down.
These strong fundamentals are clearly reflected in the recent NEAR price action and Near Protocol’s average market cap. Therefore, there is a possibility that Near will rise another 3-5 times before the bull market ends. ”
While Guy is optimistic about the Ethereum rival, he is addressing a problem that could affect the Near Protocol’s ability to grow.
“Despite many developments, updates, announcements, investments and a decent fan base, Near Protocol doesn’t seem to have a very large user base. I now suspect this is due to the fact that the NEAR token is not currently listed on any US stock exchange. ”
The analyst also mentioned that Near might find it difficult to step out of the shadows of other larger smart contract platforms.
“The problem is that Near Protocol is losing ground to other crypto projects of a similar caliber, such as Ethereum and especially Solana. Near Protocol smart contracts are encrypted using Rust. Solana’s smart contracts are also written in Rust. This means that both projects can compete for a small pool of Rust developers interested in cryptography. “