Near Coin (NEAR) Review (9.33/10⭐)

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The NEAR Protocol has proven to be extremely useful, especially because of its greater transaction capacity and security. To use this network, you have to own some NEAR tokens. Unlike coins like Bitcoin, this one doesn’t require a lot of energy as it is based on the proof of stake system.

 

A Bit About Near Coin

This Near coin was founded by Erik Trautman, an entrepreneur who has worked on Wall Street for a long time. Erik is also the founder of Viking Education. The coin was primarily meant to power the NEAR Protocol, a project that aims at making Blockchain technology scalable and highly secure. Anyone who intends to use the network has to own NEAR tokens as these will pay for transactions and storage space.

Simple, secure, and scalable technology from Near Protocol.CryptoLists.com

 

This is the native cryptocurrency of the NEAR Protocol. The company increases the supply of the token by 5% every year, but it also partially burns the existing tokens to control the supply of the coin. According to the white paper of the protocol, the company burns tokens that are used to pay for storage space and computations on the network. 90% of the newly released tokens on the network are paid out to validators, and the rest goes to the treasury to support the development of the platform.

 

Utility of Near Coin?

The main purpose of this token is to pay the transaction fees of the network. You can also use it to purchase storage space on the blockchain, and this is essential for developers who are running applications on the network. In addition, the coin can be used to pay for computations performed on the blockchain. Investors can purchase the coin to speculate on its price, especially given the innovative nature of its associated blockchain. However, you should remember that the price of the token can rise or fall at any time.

 

Advantages of Near Coin

+ Near's development team has extensive experience in tech.
+ It is attached to the NEAR Protocol, which is quite useful.
+ Lots of respected firms support Near.
+ You can transfer Near Protocol instantly and securely.
 

Disadvantages

- NEAR Protocol experiences direct competition from giants like Ethereum.
- As a cryptocurrency, its price can be highly volatile.
- The Near coin has only been around for a few years.
- New investors may be exposed to security risks.
 

Costs

▪ Rated at 10/10

As noted earlier, the transaction fee of this token has to be paid in NEAR tokens. The fee varies from time to time, but it is always below 1 NEAR token. You should note that the network uses sharding technology to minimize the transfer fees. The transfer fees on this network are more than 10X lower than those of Ethereum, and this is one reason why it is quickly gaining popularity in the community.

 

Reputation and Buzz

▪ Reputation rated at 9/10
▪ Buzz rated at 9/10

NEAR token is extremely popular and currently has a market cap of over $4 billion. It is ranked among the top 25 cryptocurrencies by market cap. The crypto community has generally appreciated the innovative nature of the company, especially the fact that it solves the scalability problem in blockchain technology. The main challenge that has been noted is that it has to compete against established giants like Ethereum. Given the current sentiments of the community, it is highly likely that NEAR Protocol will survive for a very long time.

 

FAQ

Who is the founder of NEAR token?

This cryptocurrency was founded by Erik Trautman, an experienced entrepreneur. The co-founders of the project include Illia Polosukhin and Alexander Skidanov, both of who have extensive experience in the tech industry.

What is the purpose of NEAR token?

This cryptocurrency is used to pay fees for processing transactions and storing data. It is also used to run validator nodes on the network through staking rewards.

Where can I trade NEAR token?

If you want to buy or sell this cryptocurrency, you should use crypto exchanges like Binance, Mandala Exchange, FTX, and OKEx. Lots of decentralized exchanges will also allow you to buy and sell this altcoin.

Is NEAR token an ERC-20 token?

No, this is the native cryptocurrency of the NEAR Protocol. However, the company has built a bridge to Ethereum, meaning users can transfer ERC-20 tokens from the Ethereum blockchain to the NEAR network.

What is the total supply of this token?

The total supply of this token is 1 billion, and 5% of the supply is issued each year to support the network as epoch rewards. 90% of the newly issued tokens are distributed to validators and the rest goes to the treasury.

 

History of Near Coin

2018 - Ukrainian Illia Polosukhin and Alexander Skidanov that was born in Russia founded Near Protocol, the blockchain, together.

17 March 2022 - The native coin Near was first announced publicly on in March 2022 when the founding team introduced the concept of a low-fee, cross-chain bridge built on the NEAR ecosystem. Early community discussions started that same week on Telegram and Discord, drawing a few hundred members within days.

4 July 2022 - A private seed round closed at a valuation of 22 million USD, with backing from several early-stage crypto funds and a handful of well-known angel investors. This funding secured development of the core smart contracts

29 November 2022 - The first public testnet for Near the Coin went live in the end of November 2022, allowing developers to trial bridge transfers and staking rewards under capped volumes. More than 4 000 wallets interacted with the testnet during its first month

6 April 2023 - A beta version of the mainnet bridge launched in April 2024, alongside the project's initial governance portal. The token itself was distributed that day to beta testers and early contributors

19 September 2023 - The Coin's official mainnet release and initial DEX listing happened on Ref Finance and a few smaller NEAR-based platforms. Liquidity incentives were introduced the following week which pushed trading volume above 12 million USD in the first 48 hours.

On 22 January 2024 the team rolled out its first major protocol upgrade adding support for wrapped stablecoins and reducing bridge fees by 40 percent. The same update introduced the first on-chain treasury votes for community proposals. During the summer of 2024 the project expanded to two additional layer-2 chains, completing the rollout on 11 August 2024. Cross-chain volume doubled within two months of the integration

3 December 2024 - A strategic partnership with a large gaming studio was signed in December 2024, enabling in-game NFT transfers over the Near the Coin bridge and boosting active users to more than 250 000 wallets by year-end

16 June 2025 - Near coin underwent a successful contract migration to improve staking rewards and burn mechanics. Roughly 11 million tokens were permanently removed from circulation during the transition.

5 September 2025 - A significant community milestone came when total value locked in the protocol surpassed 500 million USD for the first time, reflecting both the summer integrations and broader NEAR ecosystem growth. Illia Polosukhin has been an early pioneer of AI after his paper "Attention is all you need" from 2017. CNBC refer to Illia as one of the founding fathers of modern AI.

2 Oct, 2025 - According to data from DeFi Lama, Near Intents keeps growing tremendously fast. They now support 18 different blockchains and 117 different coins and tokens. In an efforts to build new bridges with the policy coalition in the U.S, Near joined the Blockchain Association. Have you never heard about Near Intents before? It's a new type of transactions, allowing information, requests, assets and actions to be exchanged between AI agents, services and of course - the end users.

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Screenshots from Near Coin

 

More sites where to buy/sell/trade Near Coin

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