NEAR Protocol’s token surged to a three-week high of $1.60, according to CryptoSlate’s data, following the announcement of its Foundation partnership with Alibaba Cloud.
Over the past month, NEAR has declined by nearly 4%, reaching as low as $1.17 on June 15 before slowly rebounding to its current levels. The token had retraced to $1.58 at the time of writing, according to CryptoSlate’s data.
Near Foundation partners with Alibaba Cloud
NEAR Foundation reportedly said the partnership with Alibaba Cloud would grant access to the cloud developer ecosystem in critical regions such as Asia and the Middle East.
This means that NEAR could attract new developers to its blockchain network protocol via Alibaba Cloud’s plug-and-play infrastructure and remote procedure calls (RPC) as a service. Users will also have access to NEAR’s Blockchain Operating System (BOS) through Alibaba Cloud.
Raymond Xiao, the head of Alibaba Cloud Web3 Solutions, said the partnership is essential to support
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