Near Protocol raises $350M in new funding led by Tiger Global
Near Protocol, a relatively new layer 1 blockchain, announced on Wednesday that it secured a substantial $350 million in funding from top venture capitalists and investors. Combining the capital raised from its January funding round, Near Protocol has already raised half a billion dollars in just 2022 alone.
Led by popular VC firm Tiger Global, the round also included participation from Republic Capital, FTX Ventures, Hashed, Dragonfly Capital, ParaFi Capital, Blockchange Ventures, and MetaWeb.vc. The platform seeks to “accelerate the decentralization of the NEAR ecosystem,” per the press release issued today.
Similar to the Ethereum blockchain, Near Protocol offers smart contracts functionality with its own consensus mechanism called “Doomslug.” However, unlike Ethereum, the protocol has centered its operability around sharding, which distributes the network’s infrastructure to various nodes. The nodes, in turn, handle only a fraction of transactions occurring on the blockchain, thereby improving transaction throughput and cost-efficiency.
John Curtius, a partner at Tiger Global, said in the announcement post: “NEAR is poised to be a leading smart contract blockchain platform, combining first-rate technology with a fast-growing developer ecosystem. We’re excited to support NEAR as we ramp up our investments in the digital asset space.”
With the current market cap of $10.46 billion, the NEAR token ranks 19th in CoinMarketCap’s ranking of top cryptocurrencies. The token was trading at $15.78 with a 24-hour price shift of -5.24%.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 88.8% | 13 | $64 655.18 | 4.66% | 3.84% | $1 273 618 446 508 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 88.8% | 20 | $2 975.69 | 2.50% | -0.96% | $357 430 056 916 |  |
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| 3 |  USDT |
Tether predictions | 93.6% | 1 | $1.000220 | 0.09% | 0.05% | $110 976 661 136 |  |
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| 4 |  BNB |
Binance Coin predictions | 88% | 15 | $581.58 | 2.72% | -0.33% | $85 834 095 596 |  |
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| 5 |  SOL |
Solana predictions | 81.2% | 29 | $152.24 | 6.40% | 4.32% | $68 305 736 953 |  |
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| 6 |  USDC |
USD Coin predictions | 91.6% | 1 | $1.000074 | 0.01% | 0.01% | $32 935 616 749 |  |
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| 7 |  XRP |
XRP predictions | 89.6% | 14 | $0.511321 | 0.67% | -3.16% | $28 306 321 788 |  |
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| 8 |  TON |
Toncoin predictions | 72% | 62 | $6.96 | 5.57% | 19.98% | $24 173 101 344 |  |
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| 9 |  DOGE |
Dogecoin predictions | 80% | 34 | $0.150151 | 2.87% | 1.19% | $21 667 164 771 |  |
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| 10 |  ADA |
Cardano predictions | 85.2% | 18 | $0.446793 | 3.11% | -3.43% | $15 937 510 460 |  |
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| 11 |  SHIB |
SHIBA INU predictions | 73.6% | 45 | $0.000024 | 2.66% | 4.56% | $14 102 422 773 |  |
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| 12 |  AVAX |
Avalanche predictions | 77.6% | 35 | $34.17 | 6.35% | -1.03% | $13 051 860 879 |  |
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| 13 |  WTRX |
Wrapped TRON predictions | 75.2% | 42 | $0.126390 | 1.12% | 2.87% | $11 054 469 018 |  |
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| 14 |  TRX |
TRON predictions | 77.2% | 40 | $0.126027 | 0.70% | 2.41% | $11 022 941 624 |  |
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| 15 |  STETH |
Lido stETH predictions | 95.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
