Near Protocol (NEAR) and Avalanche (AVAX) tokens have outperformed some big names in the crypto market with notable gains.
The Avalanche platform’s native token, AVAX, saw a remarkable 8.2% increase in the early hours of Friday. This performance is noteworthy, particularly in light of the general market conditions in which major players such as Ethereum and Bitcoin experienced declines. Ethereum fell below $2,000, and Bitcoin fell below $36,500.
One significant factor that attracted investors to AVAX was Avalanche’s participation in Project Guardian, an initiative of the Monetary Authority of Singapore (MAS).
This project demonstrated real-world blockchain applications for asset management and foreign exchange trade simulations.
AVAX’s upward momentum was aided by Project Guardian’s emphasis on tokenization and smart contracts in the financial services industry.
NEAR, the Near Protocol token, also showed resilience with a 6% rise. The encouraging developments announced during the Nearcon conference are the reason behind the positive momentum that NEAR is experiencing.
Investor optimism has been sparked by these announcements, which bode well for NEAR’s prospects in the cryptocurrency market.
Even though the market saw a downturn for major cryptocurrencies, AVAX and NEAR’s exceptional results demonstrate how dynamic the market is and how individual projects and encouraging advancements can result in notable gains even in the face of broader market adjustments.
These tokens will probably be closely watched by investors as they make their way through the constantly changing cryptocurrency market.