In the dynamic landscape of cryptocurrency, NEAR Protocol has recently emerged as a frontrunner owing to its active development, particularly within the realms of artificial intelligence (AI) and big data, distinguishing itself from other projects.
NEAR Development Surges Ahead
Metrics released by the analytics firm Santiment indicate that NEAR has outpaced its competitors in terms of development activities. These activities are critical indicators of a project’s dedication to product viability and feature expansion. High development activity scores also tend to allay fears of exit scams within the crypto community. NEAR’s impressive surge to a development activity score of 188 over the past month outshines that of Oasis Network and Golem, which scored 162 and 90 respectively.
Slowing User Engagement on NEAR
Despite the uptick in development efforts, NEAR is experiencing a slump in user activity. The initial boom of new addresses in early March has since tapered off, with a notable reduction in the creation of new addresses. Moreover, transaction volume has also seen a downturn, with the daily transaction count falling by 17% within a week. This decline in network usage has consequently led to lowered transaction fees and protocol revenue, highlighting challenges in sustaining user demand.
NEAR’s native token nonetheless benefited from the broader bullish market trend, posting a significant price increase over the month. However, recent figures show a slight dip in its trading price. As the market continues to fluctuate, NEAR stands out for its robust development activity, an encouraging sign of its potential for future growth and innovation in the AI space.