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.
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.