SOL - Is This Ethereum Challenger a Breakout Crypto Investment?
Ever since its launch in 2020, Near Protocol (CRYPTO: Near) has attracted attention from some big names in venture capital (VC) and hedge funds. In April, it raised a monster $350 million in a funding round led by Tiger Capital, and just months before that, it raised an impressive $150 million. So it clearly has a lot of financial support to develop into a top blockchain project. But does it have enough to mount a serious challenge to Ethereum (CRYPTO: ETH) ?
As a top 25 crypto with a market capitalization of about $3 billion, Near Protocol is arguably in the same class as other, better-known Layer 1 blockchain rivals such as Solana (CRYPTO: SOL) and Avalanche (CRYPTO: AVAX) . For Near Protocol to be a breakout crypto investment, though, a few things need to happen.
Like Ethereum, Near Protocol is a Layer 1 blockchain that supports both smart contracts and decentralized applications. To date, its primary advantage over Ethereum has been that it is cheaper and faster.
For further details see:
Is This Ethereum Challenger a Breakout Crypto Investment?