NEAR Protocol: A Rollercoaster Ride Through Q4 2024!
NEAR Takes a Nosedive But Refuses to Go Down Quietly!
Buckle up, folks! NEAR Protocol had a wild ride in Q4 2024, soaring high then plummeting down like a rollercoaster in a theme park gone wrong! The crypto world may be in chaos, but NEAR is putting on a show that’s hard to ignore!
In December, NEAR’s token price exploded to a jaw-dropping $8.19, only to crash back down to about $4.91 as the month ticked away. What happened? A whopping market cap fall to $5.73 billion—a staggering 2.09% decrease, sending NEAR plummeting ten positions in market cap rankings! Now it sits at a humble 21st place, trailing behind the heavyweights!
Despite the dramatic price plunge stirring up shockwaves, NEAR wasn’t ready to throw in the towel! Hold onto your hats! The revenue from network transaction fees skyrocketed to around $2.11 million—a staggering QoQ increase of 26.81%! More transactions, more activity, and signs of life ablaze, even in a sinking market!
But Wait—There’s More! Activity is Booming!
Can you believe it? The average transaction fee climbed to about $0.0031—a 15.91% hike since last quarter, proving NEAR isn’t just surviving; it’s thriving! With a flexible supply model fueling its engine, NEAR isn’t going down without a fight.
But it’s not all sunshine and rainbows! The NEAR token is the lifeblood of its ecosystem, vital for staking, transaction fees, and storage fees—keep those wallets ready! With 95.12% of NEAR’s tokens circulating (and 49.08% actively staked), the momentum is unstoppable!
Get Ready for a Staking Bonanza!
And let’s not forget the sweet stakes—an annual yield of 8.95% and a real yield of 4.55%! Who wouldn’t jump at that? NEAR’s users are reaping the rewards, while total address activity surged to dizzying heights.
Developer Drama: A Troubling Trend!
But hold the applause—while user activity is booming, developer enthusiasm seemed to hit a rough patch! With weekly active core developers dropping by 13.95% and ecosystem developers down 30.34%, NEAR is facing a critical crossroads. Can they turn it around?
DeFi Downturn, But Not Out!
The total value locked (TVL) in NEAR’s DeFi universe dropped by 4.48% to about $240.16 million. Liquid staking wasn’t immune either, taking a bruising with a 10.32% decrease. And although it stings, Ref Finance took the crown for DEX dominance, achieving an impressive daily volume of $8.35 million!
But hold on tight! NEAR’s stablecoin market cap soared to an astonishing $683.69 million, a 1.88% gain QoQ. Even more jaw-dropping? That’s an eye-popping 880.71% jump year-over-year!
The Price Is Still 82% Off Its Glory Days!
As of now, NEAR’s price sits at $3.52—still a staggering 82% below its all-time high. But don’t count NEAR out just yet! A recent 10% surge in the past two weeks has many wondering if a comeback is on the horizon!
Grab your popcorn and keep watching because NEAR’s saga is far from over! Will it rise from the ashes, or is this just the beginning of a wild conspiracy in the world of crypto? Stay tuned!
