As a seasoned crypto investor with a keen interest in blockchain technology and decentralized finance, I’ve been closely monitoring the market for promising projects that show real potential. The recent announcement from NEAR Protocol (NEAR) about its community and developer accomplishments, coupled with impressive user retention data, has caught my attention.
In the midst of significant AI-related news, NEAR Protocol (NEAR) shares an impressive achievement from its community and developers. Notably, its indigenous cryptocurrency ranks among the top performers over the past week.
NEAR Protocol sets new popularity record by this metric
Over the past year, NEAR Protocol (NEAR) has shown the highest user retention among L1 altcoins, with a retention rate of approximately 9.53% according to data from provider Artemis.
In the long term, the retention rates among competitors of NEAR Protocol (NEAR) were noticeably lower. For example, on its C-chain, Avalanche (AVAX) retained just 8.19% of its users over a 12-month period, while BNB Chain managed to retain only slightly more than 7%.
According to the data, both Ethereum (ETH) and Tron (TRX), which are among the largest blockchains by total value locked (TVL), struggled to retain more than 5% of their users over the past year.
According to DefiLlama’s data, approximately 19 decentralized finance applications (DeFis) are currently operational on the NEAR Protocol, collectively managing a total value locked (TVL) of around $306 million.
The three leading Decentralized Finance (DeFi) projects on the NEAR blockchain, specifically Burrow, LiNEAR Protocol, and Meta Pool Near, dominate the scene with their substantial Total Value Locked (TVL). Their areas of focus include decentralized lending and liquid staking.
NEAR coin price outperforms all large caps
Over the past week, NEAR, the native cryptocurrency of the NEAR Protocol, stood out as the top-performing large altcoin based on CoinGecko’s statistics.
Among the hundred leading cryptocurrencies, this altcoin stood out as the fifth fastest-growing with a 26% increase in just seven days. In the current list, it ranks below meme coins like FLOKI, BONK, PEPE, and Hedera (HBAR), which have experienced even faster growth due to intense hype surrounding their respective projects.
As a researcher studying the cryptocurrency market, I’ve noticed that the recent surge in NEAR‘s price could be due to the growing importance of artificial intelligence (AI) integrations for the NEAR Protocol (NEAR). This dynamic segment is increasingly relying on advanced technologies like AI to drive innovation and growth. As such, NEAR’s potential to seamlessly integrate AI applications may be a significant factor contributing to its rally.
Read More
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- Best Goomba Characters In Mario Games, Ranked
- MNT PREDICTION. MNT cryptocurrency
- ETHW PREDICTION. ETHW cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- Ethereum (ETH) Crashes Dramatically, What’s Next? Solana (SOL) Can Still Reach $200, XRP Struggling Before $0.63 Test
- I Physically Need WWE 2K25’s Showcase to Feature The Bloodline
- Rumor: One of the Weirdest Games of 2014 Could Be Making a Comeback
- ALPINE PREDICTION. ALPINE cryptocurrency
2024-04-26 20:00