Near Protocol raises $350M in funding round led by Tiger Global

The Near Foundation has raised $350M in a new financing round led by technology-focused investment firm Tiger Global, CoinDesk reported Wednesday, citing a release. Note that the Near Foundation's native digital token, NEAR Protocol (NEAR-USD +0.9%), is rising slightly in the past 24 hours, recently changing hands at $16.30 per coin. Meanwhile, ethereum (ETH-USD -6.3%) - Near's largest rival - and many other major cryptos are extending losses from earlier in the session. The funding comes less than three months after the Near Foundation raised $150M, CoinDesk noted. Near, a proof-of-stake blockchain, is designed as a decentralized application ("DApps") platform for developers. Previously, (Dec. 22, 2021) NEAR tokens soared after Terra stablecoin integration.