NEAR Protocol Sees Surge in Activity in Q3 2023, Says Binance Research
A recent report from Binance Research highlights the exceptional performance of NEAR Protocol (NEAR), a smart contract platform, in the third quarter of this year. Despite a general decline in blockchain activity during this period, NEAR experienced a significant increase in average monthly transactions, with a growth rate of 120% compared to the previous quarter.
Binance Research attributes NEAR’s success to top-down partnerships and grassroots initiatives. Furthermore, while most smart contract platforms witnessed a decrease in daily active addresses, NEAR Protocol registered an increase, reaching an average of 650,000 daily active addresses in September. The launch of USDC, the second-largest stablecoin by market cap, on NEAR also contributed to this surge.
NEAR Protocol focuses on scalability and stability and aims to provide developers with a low-cost environment for building decentralized applications. As of now, its native asset, NEAR, is trading at $1.12.
Hot Take: NEAR Protocol Thrives Amidst Declining Blockchain Activity
In the third quarter of 2023, NEAR Protocol stood out as it defied the trend of declining blockchain activity. While other platforms experienced a decrease in transactions and daily active addresses, NEAR witnessed substantial growth in both metrics. This success can be attributed to strategic partnerships and grassroots initiatives that have propelled NEAR’s popularity.
By
By
By
By
By