TL;DR
NEAR Protocol’s native cryptocurrency – NEAR – has been among the best-performing tokens in the digital asset market in the past several days. Its price has jumped by over 20% for the past 24 hours and a whopping 110% on a monthly basis.
Its impressive surge at the end of October and the beginning of the ongoing month could be attributed to the overall bullish sentiment reigning in the entire crypto industry. Recall that the biggest digital assets by market capitalization – Bitcoin (BTC) and Ether (ETH) – briefly climbed to $38,000 and $2,100 (respectively).
The optimism in the space might be triggered by expectations that a spot BTC ETF could soon see the light of day in the United States and the upcoming halving.
In addition, NEAR received support from Binance Japan. As CryptoPotato reported last week, the Japanese subsidiary of the world’s largest crypto exchange vowed to add 13 tokens (NEAR included) on its platform on November 27.
Once the move is completed, the marketplace will increase the total number of supported cryptocurrencies to 47. Its ultimate goal is to boost that figure to 100 in the future.