NEAR: Troubled waters of Q4 2022 bear fruit - Protocol records all-time high in...
,” Messari noted that NEAR’s network activity showed significant growth year-over-year despite the bear market and unprecedented turmoil.
Between October and December 2022, daily active accounts on NEAR clinched an all-time high. According to the report, the number of daily active accounts increased nearly three times compared to the previous year. Regarding what might have caused the spike in active accounts on NEAR, Messari found that the launch of“In Q4, the momentum continued as Sweat surpassed 16 million unique wallets, 4 million daily active users, and 200 million SWEAT staked. While new account creation slowed, the sustained increase in active accounts indicates that the new users are remaining engaged.”Likewise, the daily transactions count on the network grew by 50% on a YoY basis.
Interestingly, NEAR network recorded a spike in transactions despite having low transaction fees in Q4 2022, averaging at less than one cent.Furthermore, in the fourth quarter of 2022, NEAR’s total value locked experienced a 10% decrease quarter-over-quarter , but a significant 160% increase YoY from 43 million to 113 million. Messari noted that was a remarkable achievement, particularly considering the discontinuation of its USN stablecoin in the same quarter.
The steady growth of TVL on the NEAR Network suggested that it continued to attract investors and maintained its position in the market.“NEAR’s NFT-related metrics remained relatively unchanged during the latter half of 2022. However, when compared to the same period in the previous year, NFT Sales Volume on NEAR has risen by 374%, and the average daily number of NFT buyers and sellers has increased by 101% and 133%, respectively.”At press time, one NEAR token was obtainable for $2.29.
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