NEAR protocol entering the FOMO phase: important reasons

14101

Vladislav Sopova

Blockchain entrepreneur and investor shared some reasons that make him optimistic about the progress of the NEAR platform

Contents

Chain Activity, Retail Adoption, Audience Growth, Ecosystem Progress: NEAR FOMO $1.37 Billion Catalysts Locked, 27 Active Protocols: What Happens to the NEAR Protocol?

Alex Pavlov, CEO and founder of DeFi derivatives protocol Spin and partner at Algalon Capital asset management firm, shares some statistics indicating that NEAR Protocol is on the brink of another upswing.

Supply Chain Activity, Retail Adoption, Audience Growth, Ecosystem Progress: NEAR FOMO’s Catalysts

Mr. Pavlov has pinned down the most powerful drivers of the upcoming NEAR Protocol (NEAR) FOMO (“fear of missing out”) on Twitter.

In terms of net trading volume, NEAR Protocol (NEAR) has already outperformed Avalanche (AVAX) and is closer to surpassing Terra (LUNA) and Solana (SOL), the two most overhyped protocols of 2021.

At the same time, the fully diluted market cap remains low compared to its closest competitors, and this can also be interpreted as a sign of undervaluation.

Also, while tracking the audience growth of major non-Ethereum platforms, analytics firm Messari has registered a 55% increase in 2022, ahead of Solana (SOL), Terra (LUNA) and Avalanche (AVAX).

These advancements have been accompanied by the explosive increase in stablecoin, DeFi and dApps activity on the NEAR ecosystem.

$1.37 Billion Locked, 27 Active Protocols: What Happens to NEAR Protocol?

Last but not least, Mr. Pavlov noticed a huge increase in the transactional statistics of store usage. In 2022, NEAR Protocol went through two massive fundraising campaigns.

According to Dappradar statistics, by mid-April 2022, NEAR had 27 decentralized applications of all types on board. Mostly they belong to the market segments and games.

NEAR Crowd, Paras 2.0 and Ref Finance are the three most popular dApps in terms of user numbers.

A total of $1.37 billion has been locked by users of all NEAR-based protocols in total.

Leave a Reply

Your email address will not be published.