• Tue. Apr 16th, 2024

Near Protocol has seen a swift shift in fortunes. The project’s social activity index has conferment surging activity on the token.

LunarCrush data shows NEAR’s Alt Rank dropped within the last three days. The coin also reflected the tendencies with positive reactions.

While writing these lines, NEAR changed hands 3.5% up within the previous day. That came as the cryptocurrency space witnessed some respited since August 30.

Moreover, the altcoin looked to ensure near-term profits during this publication, trading near $4.3.

NEAR’s Twitter account (Near Daily) also highlighted the token’s social performance within the previous week.

The update revealed that the coin witnessed a substantial upsurge in social volume, with the index rising by 25.5%. Also, social engagements climbed by 13.7% during the timeframe, whereas social dominance plummeted by 20.1%.

What from Data?

Also, Near Daily revealed top gainers within the Near network over the last 24 hours. It indicated that Ref Finance topped the charts from August 30, with a 12.4% share.

Trisolaris, a top decentralized exchange on NEAR Aurora EVM, followed Ref Finance. It had a 9.7% share, and NEAR followed with its 9.3% (according to the update).

Moreover, the total value locked on Aurora and NEAR hit $435M as the project started to show potential in decentralized finance.

Furthermore, Ref Finance was the leading TVL dApp within the ecosystem as of August 31, with its total value locked at above $232 million. Bastion protocol followed, contributing more than $91M to the ecosystem.

The community also cheered about Chainstack supporting Near Protocol. Moreover, the network succeeded in deflecting another potential cross-bridge hack. The previous week saw NEAR’s Rainbow Bridge resisting the 2nd attack in some months.

Interestingly, the Bridge secured all cash and cost the hacker five $ETH within 31 seconds. These indicators still show NEAR Protocol has ramped up developmental activity within the ecosystem.

Moreover, the massive anti-hack policies contribute to an impressive base for NEAR’s development.

On the other side, the crypto market witnesses continued bearishness, with values maintaining downsides. The global crypto market capitalization lost 1.63% within the past day to $979.16 billion.

Editorial credit:  Ira Lichi / shutterstock.com

Erik Taylor

Erik Taylor

Erik Taylor, contributing author for Big Trends Signals, leverages his vast online trading knowledge to provide thorough guides and impartial reviews, simplifying complex trading concepts for readers.

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