Blockchain Protocol, Near (NEAR) recently raised $350M in a Series D funding round led by Tiger Global. Additional investors in the round included Republic Capital, FTX Ventures, Hashed, Dragonfly Capital, ParaFi Capital, Blockchange Ventures, and MetaWeb.vc. The NEAR token, used to power its blockchain protocol, rallied by almost 30% on April 6 after announcing the new funding. NEAR is viewed as a competitor to Ethereum. It provides high speeds and low costs through various features, including a proof-of-stake (PoS) consensus mechanism, a scaling technology called “sharding,” and unique block-producing implementation.
Near Protocol eyes a Terra-like price rally after a new $350M funding raise