NEAR Protocol Surges in the Crypto Market
The NEAR Protocol has experienced significant gains in the crypto market, with a 54% surge this week. Its native token, NEAR, has seen a remarkable performance, with a value increase of over 175% this year and a 20% rise today, reaching approximately $3.55. This surge has also boosted NEAR’s market capitalization to around $3.5 billion.
Increasing Adoption and On-Chain Metrics
The adoption of the NEAR Protocol is evident through on-chain metrics. The number of active daily wallets on the network has skyrocketed by 975%, from 93,000 to over a million, between December 1 and December 19. Additionally, the network’s total daily transactions have increased by 170% since December 3.
Anticipated Surge in Discussions and Interest
Analysts anticipate a surge in discussions and interest surrounding the NEAR Protocol in the coming weeks as it gains more visibility. With its lower valuation and advanced technology compared to rivals like TIA, NEAR is poised for substantial growth.
Retail Investors Maintain Interest
Despite venture capitalists stepping back from NEAR during the cryptocurrency downturn, retail investors have maintained their interest in the project. Analysts believe that these retail investors may benefit from selling their holdings at significantly higher prices when institutional investors re-engage with the cryptocurrency market in future cycles.
Hot Take: NEAR Protocol’s Impressive Performance
The NEAR Protocol has made waves in the crypto market with its impressive performance and significant gains. With a surge of 54% this week and an overall value increase of over 175% this year, NEAR is attracting attention from both retail and institutional investors. Its increasing adoption is demonstrated by the significant rise in active daily wallets and total daily transactions on the network. As NEAR gains more visibility, analysts anticipate a surge in discussions and interest, positioning NEAR for substantial growth compared to its competitors. Despite venture capitalists stepping back, retail investors continue to show interest, potentially benefiting from higher prices in the future.
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