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Above $20, NEAR reaches a new all-time high

The NEAR Foundation, a Swiss non-profit has a task with “contracting protocol maintainers, supporting ecosystem development,”

“and shepherding core governance of the NEAR protocol,”

Also, it announces the close of a $150 million round of funding from a number of well-known crypto investment firms.

According to CoinDesk, Su Zhu’s Three Arrows Capital spearheaded a $150 million investment round for NEAR Foundation. Several big crypto-focused investment funds has participation in NEAR. Which includes Mechanism Capital, Dragonfly Capital, Andreessen Horowitz (a16z). The, Jump, Alameda, Zee Prime, and Amber Group, according to the report.

The amount of excitement for NEAR shows by Dragonfly General Partner Ashwin Ramachandran. Of course, who notes that the entire round of fundraising is by “end to end” in two weeks.

“Near has done a great job from a technology standpoint,”

” and we want to help them achieve a level of developer, user,”

“ecosystem adoption which reflects their current level of technology innovation. “

NEAR has always been a fascinating layer 1 network, according to Ramachandran. So, but it has been “slightly slept-on” due to a lack of applications in the ecosystem.

He claims that increased knowledge of NEAR-based projects, such as the NEAR Foundation’s announcement of a $800 million fund to assist development, has fueled interest in the DeFi project.

The price of the $NEAR tokens from the sale was not disclosed, according to the report, except than being priced at a one-month time-weighted average price (TWAP).

Finally, at 22:05 UTC, $NEAR reached a high of $20.42 on the Binance cryptocurrency exchange.

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