On Monday, December 27, the price of the NEAR token briefly topped $16.40. Over the last seven days the asset has risen by 70.5%, according to CoinGecko.
Over the last 24 hours the increase was 3.3%. At the time of writing, NEAR had corrected and was trading at around $15.10.
Positive momentum followed the announcement of the integration of the UST stablecoin by the Terra DeFi project. On December 23, the NEAR team announced this, after which the token price rose from around $8.80 to above $14.
Hourly chart of LUNA/USD on Bitfinex. Data: TradingView.
LUNA ranks ninth by market capitalization. Over the last seven days the token has risen by 26.1%.
In December the value of funds locked in the Terra ecosystem surpassed $18 billion. By this metric the project lags only Ethereum.
In November, the NEAR team launched the Simple Nightshade solution, designed to be the first step toward a fully segmented and scalable blockchain.
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