NEAR Protocol

1. Introduction NEAR Protocol has positioned itself as a Blockchain Operating System (BOS) aiming to become an open-source community-run public cloud computing platform for decentralized applications (dApps).

Timeline of Near-protocol

NEAR Protocol, a blockchain network striving for growth and innovation, has recently unveiled its latest update, showcasing the milestones achieved in Q2 as part of its roadmap. This comprehensive report offers a valuable insight into the network's performance and aspirations.

NEAR looks to be planning to become more competitive in the blockchain segment based on its latest findings. The network's development activity was also in tandem with NEAR's update.

According to Mesari, NEAR Protocol, a leading smart contract platform, demonstrated resilience and growth in Q2 2023, despite being listed in the SEC's complaint against Coinbase. The platform's financial and network fundamentals remained stable, with strategic partnerships and grassroots initiatives driving user adoption.

NEAR Foundation, the firm behind the NEAR protocol ecosystem development, is partnering with Alibaba Cloud, Alibaba Group's digital technology and intelligence backbone. The strategic alliance aims to galvanize the NEAR Foundation's reach into Alibaba Cloud's extensive developer ecosystem in Asia and the Middle East.

The NEAR Foundation and Alibaba Cloud have formed a strategic relationship to collaborate and speed up the development of dApps and blockchain technology, marking a significant milestone for the Web3 ecosystem in Asia. This partnership is a huge step forward in encouraging creativity, improving scalability, and facilitating widespread use of Web3 solutions in the area.

NEAR Foundation and Alibaba Cloud have formed a partnership, boosting the advancement of web3 technology in Asia and the Middle East. The move has triggered an over 9% surge in the price of NEAR tokens.

NEAR Protocol's token surged to a three-week high of $1.60, according to CryptoSlate's data, following the announcement of its Foundation partnership with Alibaba Cloud. Over the past month, NEAR has declined by nearly 4%, reaching as low as $1.17 on June 15 before slowly rebounding to its current levels.

In order to accelerate Web3 growth in Asia and the Middle East, the NEAR Foundation, the non-profit organization responsible for the ecosystem development of the NEAR protocol, has partnered with Alibaba Cloud, the computing and storage arm of the Chinese tech giant Alibaba Group Holding Ltd (NYSE: BABA).

NEAR Protocol's Blockchain Operating System (BOS) is a novel approach to the world of web3 that looks at the entire blockchain ecosystem and attempts to create a framework to abstract “janky” usability and complex user journeys.

The NEAR Protocol price analysis shows that the NEAR price action has crumbled to the $1.20 mark after the bulls failed to maintain support at the $1.40 price level. Currently, the price action has fallen to the $1.20 level and seems to be moving further down.