Bittime - The Near Protocol (NEAR) decentralized application (dApp) platform showed outstanding performance in the first quarter (Q1) of 2024. NEAR's key metrics have improved significantly, bringing the platform to important levels and opening up opportunities to re-test its highs (ATH) reached in January 2022.
Fantastic Growth in Various Aspects
A recent report from Messari reveals NEAR's fantastic surge in various aspects of its fundamentals:
- Market Capitalization: NEAR's value jumped 94% on a quarterly basis, reaching $7.2 billion (IDR 105 trillion) for circulation market capitalization and $8.2 billion (IDR 119 trillion) for fully diluted market capitalization. This achievement brought NEAR to the ranks of the top 20 cryptocurrencies by market capitalization.
- Revenue: NEAR's revenue from network transaction fees increased 82% on a quarterly basis, reaching $1.9 million (IDR 28 billion).
- User Activity: NEAR's daily active addresses reached 1.2 million, a 42% increase on a quarterly basis. The total number of accounts surpassed 100 million, with 236,000 new addresses daily (up 37% on a quarterly basis).
- Total Value Locked (TVL): TVL NEAR jumped 163% quarterly and 547% in the last six months, reaching $335 million (IDR 489 billion).
- Exchange Volume: The volume of NEAR decentralized exchange (DEX) increased by 95% on a quarterly basis, with an average daily volume reaching $8 million (IDR 11.6 billion).
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Factors Driving Progress
Several key factors are driving NEAR's growth in Q1 2024, including:
- Leading Protocols: Contributions from leading protocols such as KAIKAINOW, Sweat, and Playember, along with HOT Wallet adoption that reached an average of over 350,000 daily active addresses in March and nearly 3 million total wallets.
- Transaction Activity: Transaction activity on the NEAR network increased rapidly, with the number of daily transactions reaching 4.3 million, up 78% on a quarterly basis and 538% in the last six months.
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The Future of Near Protocol
NEAR's outstanding performance in Q1 2024 demonstrates the platform's huge potential to compete at the top of the blockchain industry. With continued growth and widespread adoption, NEAR has a great chance to again achieve ATH and even surpass the record.
Conclusion
NEAR Protocol has shown outstanding performance in Q1 2024, with fantastic growth across key metrics. With strong fundamentals and great potential, NEAR has a bright chance to become a major player in the blockchain industry in the future.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Near Protocol (NEAR) Predictions According to Crypto Academy
5 Near Protocol-Based Coins That Have MoonBag Potential
Top 5 Linea-Based Coins by Market Cap
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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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