NEAR protocol managed to witness a huge increase in the number of active users. One of the reasons for this increase could be: sweat economy, a move-to-earn application similar to STEPN.

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Here are AMBCryptos Price prediction for NEAR for 2022-2023

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break the sweat

messaria leading crypto analytics company, tweeted on October 15 that the number of daily active users on the NEAR platform observes a huge spike. In addition, the NEAR protocol outperformed many of its competitors using “Sweat Economy.”

Source: Messari

The number of strikers on the platform has also grown enormously in recent days. The number of strikers grew by 0.48% since last week after seeing a dip on October 12, as can be seen in the image below.

Striker sales witnessed consistent growth as per the data provided by putting out rewards. In addition, the amount of revenue that could be earned by staking NEAR increased by 9.76% in 2022.

Source: Strike Rewards

The interest of strikers could be attributed to the increasing income of strikers. However, the growth in development activity may also have piqued the interest of traders and investors. In the past month, NEAR‘s development activity grew significantly, indicating that the NEAR protocol team may be working on new updates and upgrades.

This spike in dev activity may also force traders to go long NEAR. However, they should keep NEAR’s weighted sentiment in mind before making this decision. The weighted sentiment for the NEAR protocol declined in recent days. This indicated that public sentiment for NEAR was slightly negative.

Source: Santiment

A long journey to the end…

Along with sentiment, NEAR’s volume also declined. In the past two days, NEAR’s volume dropped from 416 million to 105.6 million at press time. This could spell a bearish outlook for NEAR going forward. Additionally, NEAR witnessed a decline in market cap and stood at 2.4 billion at the time of writing.

Source: Santiment

NEAR was trading at $2.97 at the time of writing and the price was down 0.87% in the past 24 hours. In addition to NEAR’s declining prices, volatility also witnessed a decline in value, falling 18.73% in the past week.





This post NEAR Protocol Makes Competitors “SWEAT” With This New Development

was published first on https://ambcrypto.com/near-protocol-makes-competitors-sweat-with-this-new-development/

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