Near Protocol Price Jumps 14%, Signs of Recovery for Sam Coin?

• Near Protocol price jumped on Wednesday in line with other Sam coins like Solana and Serum.
• Sam Coins refer to the cryptocurrencies that Sam Bankman-Fried, founder of FTX and Alameda Research, had invested in.
• Near Protocol has struggled in the past few months with its popularity among investors waning and its Total Value Locked (TVL) in its DeFi ecosystem dropping to $98 million.

Near Protocol, one of the few cryptocurrencies known as Sam Coins, saw its price jump on Wednesday. This price increase was in line with other Sam coins such as Solana and Serum and was a sign of the market recovery. Sam Coins refer to the cryptocurrencies that Sam Bankman-Fried, founder of FTX and Alameda Research, had invested in. At its peak, FTX was valued at over $32 billion, making it the second-biggest exchange in the world after Binance.

However, with Bankman’s empire now dead and his legal troubles increasing, most investors have decided to exit Sam Coins. Other popular Sam Coins are Bonfida, Ren, and Solana, which has been one of the worst performers in the crypto industry after the collapse of FTX. Its DeFi ecosystem has lost billions of dollars and is currently standing at $350 million.

Near Protocol has also been struggling in the past few months. Its popularity among investors has waned and its Total Value Locked (TVL) in its DeFi ecosystem has plummeted to $98 million. At its peak in the summer, TVL in Near Protocol was nearly $1.2 billion.

The coin’s price has now recovered from its lowest level in 2022 and is up by more than 14% from its lowest level. This could be a sign that investors are becoming more confident in the coin and its potential for further growth.

It remains to be seen whether or not Near Protocol will continue its slow recovery, but it looks likely that the coin could continue to gain in value as investors become more comfortable with the coin and its potential. The coin’s success will depend on how well the team behind the project is able to market it and whether or not the DeFi ecosystem can continue to grow. Only time will tell, but Near Protocol looks to be in a good position to continue its slow recovery.