NEAR Rallies by 9% After Productive March: Month Recap

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Arman Shirinyan

Near beats its clos­est com­peti­tors in terms of mar­ket per­for­mance as it dodges mas­sive correction

Con­tents

Fol­low­ing a pro­duc­tive month of devel­op­ment and part­ner­ship, NEAR cryp­tocur­ren­cy ral­lied by almost 10% in the last 24 hours. Despite the low week­end trad­ing vol­ume, investors are react­ing pos­i­tive­ly on the month­ly recap.

NEAR’s March results

One of the biggest part­ner­ships for Near Pro­to­col in the last month was the SaliGP part­ner­ship on the DAO for sports teams. The pro­to­col announced a mul­ti-year part­ner­ship with SaliGP, which is one of the fastest-grow­ing sport events. It will now build their team on NEAR.

NEAR Chart
Source: Trad­ingView

The SaliGP DAO is expect­ed to focus on com­mu­ni­ty engage­ment, which will bring sports fans and cryp­tocur­ren­cy enthu­si­asts together.

Fol­low­ing the part­ner­ship with Sail­GP, NEAR announced a part­ner­ship with Orange DAO, which was cre­at­ed by the Y Com­bi­na­tor team back­ing up Web3 devel­op­ment. The team select­ed NEAR as its pre­ferred Lay­er 1 blockchain for $15 mil­lion, which NEAR will invest in the DAO.

The pro­vid­ed funds will help Web3 com­pa­nies and devel­op­ers to cre­ate new solu­tions and dApps on the NEAR blockchain.

NEAR market performance

Accord­ing to the Trad­ingView chart, NEAR remains one of the strongest posi­tions on the cryp­tocur­ren­cy mar­ket by gain­ing almost 100% to its val­ue since the end of Feb­ru­ary. Dur­ing March, NEAR showed noth­ing but growth, with almost no cor­rec­tion or con­sol­i­da­tion period.

Besides impres­sive short- and mid-term results, NEAR avoid­ed the four-month cor­rec­tion that has been observed on most assets on the cryp­tocur­ren­cy mar­ket. Ethereum, for exam­ple, has lost almost 30% since peak­ing in November.

Alter­na­tive chains, such as Car­dano and Solana, could not avoid the strong cor­rec­tion on the mar­ket since Novem­ber, which result­ed in a 60% drop in the last 200 days.

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