Max E.Fri, Jan 14, 2022 3:56 AM
NEAR Protocol, Dogecoin & Kusama: 14 January Price Digest
NEAR Protocol (NEAR): “Explosive” Start To The Year
While BTC and ETH continue to move sideways, several L1 tokens have performed brilliantly, thanks to new capital inflows and rising transaction volumes. For example, this week NEAR, Near Protocol's native token, also soared nearly by 20% due to a recent surge in developer activity on its network.
On Thursday this week, the non-profit organization Near Foundation announced that it has raised $150 million worth of funds from a number of strategic investors. Three Arrow Capital contributed the largest stake. Funds such as Dragonfly Capital, Mechanism Capital, Amber Group and others also took part in the round.
Amid this news, the price of the native Near Protocol token rose by 2.83% in the last 24 hours, to $18.66.
Such an “explosive” start to the year was a surprise for Near, as the “bearish” sentiment that has haunted (and still haunts) the crypto market since the beginning of 2022 now prevails. This means that even market cycles may not always affect application protocols with good potential and wide scope.
Dogecoin (DOGE) Has Soared By 11.07%
Tesla and Elon Musk have again become key drivers of the altcoin rally. In 24 hours, the DOGE rate soared by 11.07% to $0.1927. In weekly terms, this digital currency jumped by 25%, its capitalization on January 14 exceeded $26.295 billion.
On Twitter, Elon Musk wrote that Tesla now accepts Dogecoin tokens for payment. Moreover, the release notes that the tokens are not subject to return or exchange in case of refusal of the goods. While the Tesla online store works only with this altcoin, other cryptocurrencies are not accepted.
Interest in DOGE is growing in the futures market. The amount of open contracts today reached $500.58 million. Open interest in DOGE futures is now at its highest level since early December last year. The lion's share of contracts is placed on the Binance and FTX exchanges – $238.13 million and $103.42 million, respectively (according to CoinGlass).
Kusama (KSM) Growth
KSM price is $279.38 today, it is up 1.99% in the last 24 hours. The key to the growth of the price of the token is the rapid development of the project: over the past week, onboarding 6 new parachains happened, and the @AssetFi public sale is currently taking place on KSM Starter. The project plans to launch SORA Kusama parachain Crowdloan on January 20th.