Blockchain entrepreneur and investor shared a number of reasons that make him bullish about NEAR platform progress
Alex Pavlov, CEO and founder of derivatives protocol DeFi Spin and partner at asset management firm Algalon Capital, shares some metrics that signal the NEAR protocol is poised for another upsurge.
On-chain activity, retail adoption, audience growth, ecosystem progress: Catalysts of NEAR FOMO
Mr. Pavlov has taken to Twitter to indicate the most powerful drivers of the upcoming NEAR Protocol (NEAR) FOMO (“fear of missing out”).
In terms of net trading volume, NEAR Protocol (NEAR) has already outperformed Avalanche (AVAX) and is closer to overtaking Terra (LUNA) and Solana (SOL), the two most hyped protocols of 2021.
At the same time, its fully diluted market capitalization remains low compared to the closest competitors, and this can also be interpreted as a sign of undervaluation.
Additionally, while tracking the audience growth of major non-Ethereum platforms, analytics firm Messari saw a 55% increase in 2022. That’s higher than Solana (SOL), Terra (LUNA) and Avalanche (AVAX).
This progress is accompanied by the rocketing increase of stablecoin, DeFi and dApps activity on the NEAR ecosystem.
$1.37 Billion Locked, 27 Active Protocols: What’s Happening on the NEAR Protocol?
Last but not least, Pavlov noticed a huge increase in transactional measures of retail usage. In 2022, NEAR Protocol went through two massive fundraising campaigns.
According to statistics from Dappradar, as of mid-April 2022, NEAR has integrated 27 decentralized applications of all types. For the most part, they belong to the Marketplaces and Gaming segments.
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 is locked by users of all NEAR-based protocols.
