Ukrainian developer’s cryptocurrency that grew by more than 10% per day is named

NEAR Protocol, a cryptocurrency co-founded by Kharkiv native Ilya Polosukhin, has surged 12% overnight to hit a three-week high. This was due to the announcement of the NEAR Foundation’s partnership with Chinese tech giant Alibaba Cloud, all to support the promotion of Web3 in Asia and the Middle East.

At the time of writing, NEAR is trading at $ 1.54, having seen a 27.9% increase over the past week. «The partnership between the NEAR Foundation and Alibaba Cloud is important as we continue to support Web3 developers in exploring opportunities,» said Raymond Xiao, head of international Web3 solutions at Alibaba Cloud Intelligence.

The partnership is likely to allow NEAR Foundation to access the Alibaba Cloud developer network in the above-mentioned regions. One of the goals of the cooperation is to involve more users in the development of the NEAR protocol.

Developers will also be able to launch new validators through Alibaba Cloud’s plug-and-play infrastructure. In addition, both organizations have promised to provide remote procedure calls (RPCs) as a service to NEAR ecosystem members.

It is worth noting that Ilya Polosukhin, together with other Near Protocol founders, launched the Unchain Fund project, which uses cryptocurrency in the field of charity. According to the developer, although crypto donations to Ukraine have slowed down over time, Unchain Fund is still actively cooperating with the government and citizens.