NEAR Protocol Entering FOMO Phase: Key Reasons

Alex Pavlov, CEO and founder of DeFi derivatives protocol Spin and partner at Algalon Capital asset management firm, shares some metrics that signal that $NEAR Protocol is on the verge of another upsurge.

On-chain activity, retail adoption, audience growth, ecosystem progress: Catalysts of $NEAR FOMO

Mr. Pavlov has taken to Twitter to indicate the most powerful drivers of the upcoming $NEAR Protocol ($NEAR) FOMO ("fear of missing out").

A thread on the @NEARProtocol adoption: the FOMO is $NEAR 🧵

1/ Intro: We at @spin_fi constantly keep an eye on the #$NEAR metrics. I am sure I’m not the only one, so let me simplify the job for some #DeFi researchers and summarize the trends I currently see. pic.twitter.com/mpwMfO5rK7

— Alex Pavlov (@_alexpavlov) April 15, 2022

In terms of net trading volume, $NEAR Protocol ($NEAR) has already outperformed Avalanche ($AVAX) and is closer to surpassing Terra (LUNA) and Solana ($SOL), the two most overhyped protocols of 2021.

At the same time, its fully diluted market capitalization remains low compared to the closest competitors, and this can also be interpreted as a sign of undervaluation.

Also, while tracking the audience growth of major non-Ethereum platforms, analytical firm Messari has registered a 55% increase in 2022. This is higher than that of Solana ($SOL), Terra (LUNA) and Avalanche ($AVAX).

This progress is accompanied by the rocketing increase of stablecoin, DeFi and dApps activity on the $NEAR ecosystem.

$1.37 billion locked, 27 active protocols: What is going on $NEAR Protocol?

Last but not least, Mr. Pavlov noticed huge increase in the transactional metrics of retail usage. In 2022, $NEAR Protocol went through two massive fundraising campaigns.

As per Dappradar statistics, by mid-April 2022, $NEAR onboarded 27 decentralized applications of all types. Mostly, they belong to the marketplaces and games segments.

$NEAR Crowd, Paras 2.0 and Ref Finance are the three most popular dApps in terms of user numbers.

A total of $1.37 billion is locked by users of all $NEAR-based protocols in all.