NEAR Gets an ETP
![NEAR Gets an ETP](/content/images/size/w1200/2024/07/bytefolio-research-banner-3.jpg)
Disclaimer: Your capital is at risk. This is not investment advice.
ByteFolio Issue 117;
Given the quantity of new offerings, it is rare that I get excited by another crypto ETP launch. This one is different as the NEAR protocol is finally coming to market. Valour are first to market with a NEAR ETP, which is listed in Stockholm. It’s exciting because NEAR has been ByteTree’s top pick for some time, and our analyst, Shehriyar Ali, wrote this four weeks ago:
“NEAR is not only an Ethereum killer but also serves as a viable alternative to Solana and BNB Chain. With a market cap of $5.7bn, NEAR would need to grow 9x to match Solana, 13x to match BNB Chain, and 70x to reach Ethereum's market cap. Given its strong fundamentals and activity, NEAR shows significant growth potential and could emerge as a long-term winner.”
That means there is enormous potential, notwithstanding the challenges and competition it faces. But investors will be able to access this exciting project via the stockmarket, just as the big tech stocks have called time. Obviously, UK investors can’t because crypto ETPs are banned, even the low-risk ones. This is what Valour had to say:
“One of the NEAR Protocol’s best use cases is in supporting decentralised applications, particularly in the DeFi and NFT sectors. Projects such as Burrow, decentralised a money market protocol, and Mintbase, a platform for creating and selling NFTs, are built on NEAR. NEAR’s high scalability, low transaction fees, interoperability, and user-friendly features make it an ideal platform for these applications, enabling a wide range of financial services and digital asset management with enhanced performance and accessibility. With a market capitalisation of approximately US$5.6 billion, NEAR ranks among the top 20 digital assets globally.”
NEAR has been around for a while and is in an uptrend versus bitcoin, which is a key indicator that it is a viable and growing project. Congratulations to Valour, but you can be sure the others will follow, and that should help to support the price.
NEAR in an Uptrend versus Bitcoin
![](https://www.bytetree.com/content/images/2024/07/2024-07-22-bytefolio-117-1.png)
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