
NEAR Protocol's upgrade 2.13 went live on testnet after years of development, introducing post-quantum-safe access keys using the NIST-approved FIPS-204 signing scheme. According to reports from AMBCrypto, the upgrade aims to boost account security and defend against cryptographic threats, particularly addressing quantum computing vulnerabilities that have become a concern for the cryptocurrency industry. The upgrade also introduced dynamic resharding to ensure the protocol scales automatically with demand, eliminating the need for manual upgrades as shards split to distribute state data. To achieve this feat, Near Protocol will work together with Ledger to align hardware security for the quantum era, ensuring continued security as quantum computing technology evolves.
The upgrade announcement triggered significant market participation, with buyers displacing sellers for the first time in five days on July 1st. As reported by AMBCrypto, buy volume rose to ₹16.8 million while sell volume jumped to ₹16.5 million, creating a positive delta of 200,000. The trend continued on July 2nd with a positive delta of 500,000, signaling renewed market demand. On derivatives markets, speculators rushed to the market with derivatives volume climbing 19% to $475 million and open interest rising 7.5% to $409 million according to CoinGlass. With Open Interest and volume rising in tandem, it suggested that investors rushed to position themselves, driven by upgrade news.
NEAR Protocol surged 5.4% to $1.91 following the upgrade announcement, reversing previous decline trends and holding support at $1.70 before climbing to $1.92. According to AMBCrypto, the altcoin's volume jumped 16%, signaling increased market participation. Technical indicators showed strength with the Daily Relative Strength Index forming a bullish crossover at 46 and the +DI of DMI climbing to 19, confirming growing momentum. The RSI could flip above 50 if current demand holds, potentially pushing NEAR toward reclaiming the $2 resistance with $2.5 as the next immediate barrier. However, if the move proves speculative and fades quickly, the altcoin could retreat toward $1.70.
The upgrade addresses quantum computing vulnerabilities that gained attention after Google issued a warning in March that future quantum computers could compromise Bitcoin's cryptography. As reported by AMBCrypto, NEAR Protocol joins other protocols taking serious measures to prepare for such risks, with the FIPS-204 signature scheme designed to repel and withstand quantum attacks. The protocol will work with Ledger to align hardware security for the quantum era, ensuring continued security as quantum computing technology evolves. The warning rattled the market, and more protocols are taking serious measures to prepare for such risks, with NEAR Protocol being the latest chain moving to address these quantum vulnerabilities.