NEAR Protocol Shows Remarkable Resilience Despite Market Turbulence
Market intelligence firm Messari’s latest analysis reveals NEAR Protocol’s impressive performance in Q4 2024, highlighting significant growth across key metrics despite broader market challenges. While other Layer-1 protocols faced significant downturns, NEAR demonstrated remarkable resilience through strategic developments and increased network activity.
Key Performance Highlights
- Revenue Growth: 26.81% QoQ increase to $2.11 million
- Daily Active Users: 15.82% rise in returning addresses to 3.55 million
- New User Growth: 29.05% increase in daily new addresses
- Stablecoin Market Cap: Remarkable 880.71% YoY growth to $683.69 million
Market Position and Token Economics
Despite dropping to 21st in market cap rankings with a valuation of $5.73 billion, NEAR’s fundamentals remain strong. The protocol maintains a strategic 5% annual inflation rate, with 90% allocated to validators and 10% to treasury operations. Currently, 49.08% of the total supply is actively staked, offering an attractive 8.95% nominal yield.
DeFi Ecosystem Development
While TVL experienced a slight decline to $240.16 million, DEX activity showed remarkable growth. Ref Finance emerged as the dominant DEX platform, contributing to a 25.40% increase in average daily trading volume to $8.45 million.
Future Outlook and Market Implications
Despite current price levels at $3.52 (82% below ATH), NEAR’s fundamental growth metrics and strategic AI initiatives position it strongly for future growth. The protocol’s ability to maintain revenue growth and user engagement during market volatility demonstrates its long-term potential.
Source: Messari Research