The Surge of NEAR Protocol

Out of nowhere, NEAR Protocol (NEAR) has shot up almost 30% since April 6, when it announced it snagged a whopping $350 million in a funding round led by the hedge fund Tiger Global. It’s the kind of news that makes crypto enthusiasts do a happy dance, or at least slightly sway in their office chairs.

Close to All-Time Highs

With NEAR’s price soaring over $19.75, it’s just a smidge below its previous all-time high. Analysts can barely keep their excitement contained, predicting that the NEAR/USD pair could not only reclaim its best-ever numbers but also surge above them in the very near future. Talk about a roller coaster of emotions!

Adoption: The Key to Success

As if the funding wasn’t enough to get folks buzzing, predictions hinge on the upcoming launch of NEAR Protocol’s own algorithmic stablecoin, USN, set for reveal on April 20. Zoran Cole of Crypto Insiders has claimed this stablecoin will mimic successful models, using a Terra-like burn mechanism on NEAR tokens to keep that pesky dollar peg in line.

• Stablecoin Launch: USN expected to revolutionize NEAR.
• Impressive 20% yield for stakers, enticing DeFi lovers.

Market Sentiment: Riding the High

Market analysts like Slim Trady are raving about NEAR’s potential, predicting new all-time highs with resistance levels disappearing like socks in a laundromat. “Patience is key,” notes Trady, dropping wisdom like a modern-day oracle.

The Need for Wider Exposure

Despite being a top contender in the crypto world, NEAR is still not widely listed across major exchanges, limiting its exposure. However, it looks like a listing on Coinbase could be on the horizon, which would be like throwing NEAR a lifeline in the bustling U.S. market. Plus, there’s potential for NEAR NFTs to grace Coinbase’s future NFT marketplace, which could really generate some buzz!

Technical Levels to Watch

So, what price levels should everyone have their eyes on? NEAR is targeting a breakout beyond $20.50, which would definitely make investors giddy. If it surpasses this threshold, the next target could be around $29.70. But watch out! If the market decides to throw a tantrum, a drop below $17.55 could put the price in a precarious spot.