In March, Google issued a warning that future computers could crack cryptography to protect Bitcoin (BTC).
The warning shocked the market, and many protocols are taking steps to prepare for such risks. The NEAR Protocol (NEAR) is the latest on-chain development to address these issues.
A new PROTOCOL is underway!
After many years in the making, Close to Protocol’s Update 2.13 was live on the testnet and included two major improvements. The upgrade introduced post-quantum secure access keys using the NIST-certified FIPS-204 signature method.
The upgrade aims to strengthen account security and protect against cryptographic threats. Likewise, the upgrade adds FIPS-204, a NIST-certified signature designed to not only reverse and withstand any attack.
Secondly, it introduced dynamic sharing, ensuring that protocols flow only according to their requirements. As the shard fills with the world, it splits up for distribution, thus eliminating the need to upgrade. To achieve this, Near Protocol will work together with Ledger to coordinate hardware security in quantum time.
What did the market do?
As expected, the promotion encouraged participants to return. At the same time, for example, buyers moved sellers for the first time in five days.
On July 1, Buy Volume rose to 16.8 million while Sell Volume jumped to 16.5 million. As a result, the market saw a positive delta of 200k.
The trend continued on the 2nd of July, with a positive delta of 500k. A positive trend indicated renewed market demand.
On the derivatives side, speculators also rushed the market. According to CoinGlass, Derivatives Volume rose 19% to $475 million, while Open Interest (OI) rose 7.5% to $409 million at the time of writing.
With OI and quantitative easing respectively, it caused investors to rush to position themselves, led by increasing news.
What is the NEAREST result?
News of the 2.13 protocol upgrade made NEAR more popular. After a short period of time, the altcoin changed course, supported $1.70, and then rose to $1.92.
At the time of writing, NEAR traded at $1.91, up 5.4% on daily charts. At the same time, the altcoin volume jumped 16%, indicating an increase in the market.
In a sense, the strength of the NEAR was reinforced when the Daily Relative Strength Index made a bullish crossover, rising to 46. At the same time, the +DI of the DMI rose to 19, confirming the rapid growth. Taken together, these two indicators point to the possibility of a strong front.
If the current trend is needed, the RSI could move above 50, confirm the trend, and push CLOSE to retake the $2 resistance. In that case, $2.5 will be the next barrier. However, if the move is confirmed and disappears quickly, the altcoin may return to $1.70.
Brief Summary
- An upgrade to the NEAR Protocol’s 2.13 was made available on the testnet, introducing post-quantum secure access keys using the NIST-certified FIPS-204 signature method.
- AROUND 5.4% increase, which touched $ 1.7, and jumped to $ .92, as speculations that return to the market.
