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Home»BLOCKCHAIN NEWS»NEAR Protocol surged 54% in one week, and analysts predict further gains in 2024.
BLOCKCHAIN NEWS

NEAR Protocol surged 54% in one week, and analysts predict further gains in 2024.

By Crypto FlexsDecember 21, 20232 Mins Read
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NEAR Protocol surged 54% in one week, and analysts predict further gains in 2024.
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NEAR Protocol surged 54% this week, ranking first in daily and weekly gains in the cryptocurrency market.

The native token of the NEAR protocol has shown remarkable performance in 2023. NEAR’s value has soared more than 175% this year, achieving a notable 20% increase today alone, reaching around $3.55. This surge increased NEAR’s market capitalization to approximately $3.5 billion.

The growing adoption of the NEAR protocol is evident through on-chain metrics. The number of active daily wallets on the network saw a dramatic 975% increase from December 1 to December 19, from 93,000 to over 1 million. At the same time, total daily transaction volume on the network has increased by 170% since December 19. three.

$NEAR We’re just getting started. We look forward to seeing our feeds filled with NEAR narratives in the coming weeks. It has already started.

The first meme I’m seeing – NEAR does everything TIA does, but better and much more.

TIA 12.6b FDV
Near 3.5b FDV

โ€” Crypto Dog ๐Ÿ“ˆ (@TheCryptoDog) December 21, 2023

analyst We expect discussion and interest in the NEAR Protocol to surge in the coming weeks as it gains more visibility. Thanks to its lower, fully diluted valuation and arguably superior technology, NEAR is positioned for significant growth, especially compared to competitors like TIA.

This is also said among analysts. retail investor Despite venture capitalists pulling away from NEAR during the cryptocurrency downturn, interest remained. This trend suggests that retail investors may sell their holdings at much higher prices when institutional investors re-enter the cryptocurrency market in future cycles.

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