NEAR sees 46M users in Q2, yet its price struggles at $2.80 – Why?
The post NEAR sees 46M users in Q2, yet its price struggles at $2.80 – Why? appeared on BitcoinEthereumNews.com.
NEAR Protocol became the second leading Layer-1 blockchain by monthly active users, reaching 46 million in May 2025. Unique users, TVL, volume, total swaps, and assets supported on the protocol also rose contrary to NEAR’s price. Near Protocol [NEAR] posted explosive on-chain growth in Q2 2025, yet the token remained stuck in bearish territory. As of press time, NEAR had dropped 4%, despite clear signs of ecosystem expansion. This raised the pressing question: Can surging network activity finally lift price action? What’s driving protocol’s rising on-chain metrics? For Q2 2025 data, NEAR Protocol became second in terms of Layer-1 blockchain by monthly active users, overtaken only by Solana. The 46 million users on NEAR as the second quarter came to a close pointed to an increasing usage and an app-level activity. Its share grew faster than that of Sui [SUI], BNB Chain, TRON [TRX], Ethereum [ETH], and Avalanche [AVAX], respectively, as indicated by the chart from Artemis and Bitwise. Most chains were on the downward spiral in terms of user share, with AVAX and SEI being insignificant. This energy further solidified NEAR as a serious L1 competitor and could attract more developers, liquidity, and ecosystem development. Source: Artemis, Bitwise Europe NEAR’s on-chain traction wasn’t limited to users. The NEAR Intents protocol processed $88.85 million in volume over the past 30 days, with over 326,000 total swaps. Cumulative volume has now crossed $195 million. Moreover, in the past 24 hours alone, $1.26 million of volume changed hands, and there were 802 distinct users. In the 7 days, there were 5,114 unique protocol users, and 30-day unique users were 22,003. The coin also supported 87 assets with a total value locked (TVL) of $13.1 million. Source: Flipside This increase correlated with the bullish expectations that indicated a potential 21.9% price upside, which…
Filed under: News - @ June 12, 2025 9:23 pm