The cryptocurrency market has endured its fair proportion of ups and downs and could be a notoriously risky place. After a months-long bull run on the again finish of 2021, the market dipped significantly. This continued into the brand new 12 months, with the primary 10 days of January seeing Bitcoin (BTC) dropping 10% and Ethereum (ETH) falling over 23%. Seesaw Protocol (SSW) is a brand new coin that has simply launched, and fortunately for its creators, there may be one cryptocurrency that has bucked the market downturn.

Greater than some other, close to Protocol (NEAR), has disregarded the developments initially of 2022. NEAR has risen greater than some other high 50 ranked cryptocurrency over the past 7 days. Because the tenth of January, NEAR has risen 51%. As compared, Bitcoin elevated by 3.6% on the identical time.

Within the final week, there was the same sample. Close to Protocol is up by 34%, against Bitcoin and Ethereum, as they’ve risen by 2.71% and 4.95%, respectively. The one high 50 ranked crypto asset that got here near NEAR’s sharp improve is Cardano (ADA), up simply over 30% within the final 7 days. Since December, Close to Protocol has climbed the market cap ranks from fortieth to sixteenth on the time of writing and defying the market to achieve a brand new all-time excessive of $20.42.

What Is Close to Protocol (NEAR)?

Close to Protocol is a proof-of-stake blockchain that, in the long term, hopes to compete with Ethereum. Comparable blockchains equivalent to Solana (SOL), Avalanche (AVAX), and Terra (LUNA) garnered a lot consideration and elevated in worth exponentially all through 2021. From the way in which NEAR has shot up in value, it could seem that traders have turned their consideration to this rising platform.

Close to Protocol claims to be a less expensive, faster, and extra developer-friendly platform that may bridge NFTs, stablecoins, and cryptocurrencies from different chains to its blockchain. An enormous growth for the builders behind Close to Protocol at first of this 12 months was closing a deal price $150 million. Main enterprise capitalists equivalent to Three Arrows Capital spearheaded the funding spherical and NEAR will use these funds to speed up its adoption and try to attach with new audiences. Of their announcement, Close to Protocol additionally acknowledged that they may use the $150m to “assist billions of individuals be taught and use blockchain.”

Can Seesaw Protocol (SSW) Capitalise?

There are particular similarities between the Seesaw Protocol and Close to Protocol. Because the DeFi markets proceed to increase, there may be room for a number of rivals. In 2021, the overall worth locked (TVL) of main DeFi protocols reached a report $236 billion. As well as, PricewaterhouseCoopers predicts that within the 12 months 2030, blockchain applied sciences will increase the worldwide economic system by $1.76 trillion.

Seesaw Protocol is uniquely poised to capitalise on this. Its creators will enable its customers to conduct cross-chain swaps with the absolute best charges and speeds. It should present a bridge between main blockchains equivalent to Polygon, Ethereum, and Binance Sensible Chain.

A serious challenge for potential traders of a brand new cryptocurrency is its long-term stability. To assist obtain this, there’s a 5% charge hooked up to each sale of SSW, which is paired with BNB and added to the token’s liquidity. There’s additionally a 3% charge each time SSW is bought distributed amongst present traders, which ought to encourage long-term holding and supply additional stability.

Because it has been confirmed repeatedly, investing in a brand new cryptocurrency on the earliest potential stage is without doubt one of the greatest methods to make sure most yields from a venture. It’s well-known within the crypto sphere {that a} mere $10 funding in Shiba Inu made multi-millionaires from its early traders. The Seesaw Protocol presale began solely final week and could possibly be a chance to get in on an thrilling enterprise from the bottom up.

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