On April 06, 2022, Near Protocol announced that they have raised a 350 million funding in a fund raiser organized by Tiger Global, a New York Based Hedge fund.

Following the announcement, the price of NEAR rallied by almost 30% Further, NEAR’s price is expected to improve gains following the launch of a new algorithmic stablecoin USN.

Tiger Global, a New York Based Hedge fund focuses mainly on Internet, Software, Consumer, and Financial Technology industries.  They have a public equity business strategy and public equity business strategy. Public equity business strategy invests funds in long opportunities and long-short opportunities.  The private equity strategy invests in growth-oriented private companies from early to late stages.

NEAR Protocol is planning to launch its own highly-talked native algorithmic stablecoin, USN.  NEAR has partnered with several well-capitalized stable coins for this purpose.  USN is reportedly expected to offer an “extremely attractive” annual interest rate of around 20% to encourage DeFi Capital Rotation.

There is no official launch date announced so far.  USN resembles the TerraUSD or UST model burn mechanism. Thus, expectation is for NEAR to get compared with Terra in terms of high yield for stablecoins in DeFi.

NEAR Protocol is software which focuses on incentivizing a network of computers to operate a platform for developers to create and launch decentralized applications.

For any kind of bullish expectation – adoption is the key.  If all goes well as planned NEAR will claim its best level to-date in terms of price and it is expected to climb higher.

The 350 million funding raised and the coming of the Stable coin USN is expected to improve the fundamentals of NEAR Protocol. The expectation is for the market cap to double up in the next few months.  This the prospects for Near protocol are bullish in the short and long term.

Technically, no resistance is seen for NEAR price and therefore chances are high for upside moves.

Despite NEAR is listed only in a few exchanges like Binance, Huobi, KuCoin, and Upbit thereby limiting its exposure, particularly in the voluminous market like the U.S.

The peaking expectation is for NEAR to be listed in Coinbase in the next few months thereby improving retail visibility. Eventually, the expectation is for NEAR to be integrated in to the upcoming NFT marketplace of Coinbase.

FTX, a crypto exchange headed by Sam Bankman-Fried, is also expected to list NEAR pairs.  This is highly probable considering the investment arm of FTX Ventures to be one of the backers in Near Protocol’s latest $350 million funding rebound.

NEAR price is expected to touch upon its all-time of $20.50 and the next upside target is projected at $29.70. If there will be a pullback the price will trend anywhere between $17.55 through $15.