NEAR, the native cryptocurrency of Near Protocol, has surged by 57% from its September 6, 2024, low of $3.41.

At present NEAR is trading at $5.22 NEAR/USDT at Gate.io, after losing by 0.5% within the last 24 hours.

On September 24, it reached an eight-week high of $5.36 before retracing towards $5.20 – a strong support flow.

Several factors that include increasing open interest, TVL (total value locked) and the protocol’s implementation of blockchain sharding have contributed to its current bullish momentum.

Near Blockchain implements sharding

Near protocol, a cloud computing platform, has introduced sharding on its network to increase scalability and security without negatively affecting decentralization.

As the image shows, on X, Justin Bons announced the implementation of sharding on the NEAR Protocol.

The protocol completed the NEAR 2.0 update on

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Author: Press Release