NEAR Protocol (NEAR) is Up by Over 40% in the last 24 hours

Following the crypto market flash crash, many major cryptocurrencies suffered losses, selling lower after Bitcoin (BTC) declined significantly in a nearly short period.

However, NEAR Protocol rose even though the crypto market is down in the last 24-hour period. The open-source platform that accelerates the development of DApps is up in the last 24 hours.

Furthermore, NEAR climbed from $6 Tuesday to around $9 on Wednesday. As a result, the token increased by over 40.20% in the past 24 hours.

At the writing time, NEAR Protocol is trading at $8.309 on CoinMarketCap with a 24-hour trading volume of $1,720,054,645. With this, NEAR Protocol earned 41st place, making it one of the top 50 largest cryptos by market cap.

Currently, it has a circulating supply of 449,669,568 NEAR coins and a maximum supply of 1,000,000,000 NEAR coins.

Based on its website, NEAR Protocol is a network that runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade. Moreover, the blockchain platform aims to offer scalability and stable fees. In addition, it claims to be a climate-neutral, high-speed, and low transaction fee Layer-1 blockchain platform