Despite the decline in the cryptocurrency market, a cryptocurrency called NEAR Protocol managed to reach an all-time high.
The cryptocurrency market reacted unexpectedly to El Salvador’s adoption of Bitcoin as its official currency. Crypto assets, which have started to recover recently and pleased their investors, have fallen seriously after El Salvador’s announcement. However, the altcoin named NEAR Protocol managed to reach an all-time high by gaining value unlike the cryptocurrency market.
Altcoin named NEAR Protocol gained 42 percent
Although the arrows in the cryptocurrency market suddenly turned down, the altcoin named NEAR Protocol managed to break through this trend and climb to the top. The altcoin, which fell to $ 5.5 yesterday morning, gained 42 percent at the end of 24 hours with a sudden increase and managed to rise above $ 8 .
At the same time, NEAR Protocol, which reached an all-time high with this rise, became one of the winners of the crypto money market, which went into a downtrend after Bitcoin’s 17% depreciation. As a result, the altcoin has increased its market value by more than $ 1 billion after the recent changes, and with an instant valuation of $ 3.8 billion, it managed to rise to the 38th place in the list of the most valuable cryptocurrencies.
According to the forecasts of experts, the rise of crypto money, which reacts in the opposite direction to the downtrend crypto money market, may be short-lived. In other words, if the decline in the crypto money market continues, after a certain period of time, the altcoin called NEAR Protocol may also begin to decline.
Note: It is not investment advice.