NEAR Price Drops Despite Quantum-Safe Upgrade Announcement

The NEAR Protocol's recent update on quantum security did not have the desired impact on its price, as $NEAR fell to $1.60 despite the announcement.

According to CoinMarketCap data, the token dropped by 3.04% over the past 24 hours, which is a significant decline considering the news cycle brought a major update explaining how the network plans to secure multi-chain assets against future quantum computing threats.

The update involves Chain Signatures, a feature that allows users to hold assets from other chains inside one NEAR account, and uses post-quantum cryptography to keep these assets confidential.