NEAR Protocol Shows Strong User Growth and On-Chain Activity Amid Price Stagnation

• NEAR Protocol has emerged as the second most active Layer-1 blockchain by monthly users, showcasing significant ecosystem growth despite stagnant token prices.

• The protocol’s rising on-chain metrics, including user engagement, transaction volume, and total value locked (TVL), highlight robust network activity contrasting with bearish price trends.

• According to COINOTAG, “NEAR’s expanding user base and development initiatives position it as a formidable competitor in the Layer-1 blockchain space.”

NEAR Protocol ranks second in active users with rising on-chain metrics, yet its price lags. Explore the network’s growth and potential price catalysts in this analysis.

NEAR Protocol’s Surge in Monthly Active Users and Ecosystem Expansion

In Q2 2025, NEAR Protocol solidified its position as the second leading Layer-1 blockchain by monthly active users, reaching an impressive 46 million. This milestone places it just behind Solana, underscoring NEAR’s rapid adoption and growing appeal among developers and users alike. The increase in app-level activity reflects a vibrant ecosystem with expanding use cases and engagement.

Compared to competitors such as Sui, BNB Chain, TRON, Ethereum, and Avalanche, NEAR demonstrated superior growth in user share, as evidenced by data from Artemis and Bitwise. While many blockchains experienced declining user bases, NEAR’s upward trajectory signals a strengthening network effect that could attract further liquidity and developer interest.

Source: Artemis, Bitwise Europe

Robust On-Chain Activity and Protocol Metrics Highlight Network Strength

NEAR’s on-chain data further validates its ecosystem’s vitality. The NEAR Intents protocol processed nearly $89 million in volume over the past month, with over 326,000 swaps executed. Daily activity remains strong, with $1.26 million in volume and 802 unique users in the last 24 hours alone.

Weekly and monthly unique user counts—5,114 and 22,003 respectively—alongside support for 87 assets and a TVL of $13.1 million, demonstrate broad and growing engagement. These metrics suggest that NEAR’s infrastructure supports diverse applications and increasing liquidity, reinforcing its competitive stance.

Source: Flipside

Additionally, the NEAR Infra Committee’s investments in AI technology, decentralized RPCs, and chain abstraction projects highlight a strategic focus on innovation. These initiatives aim to enhance scalability and interoperability, positioning NEAR at the forefront of blockchain infrastructure development amid the rise of AI and multichain ecosystems.

Price Stagnation Despite Network Growth: What’s Holding NEAR Back?

Despite the strong on-chain momentum, NEAR’s token price has struggled to reflect this growth. Trading at approximately $2.49, the token recently faced resistance near $2.80 and failed to break above a descending trendline, signaling persistent bearish pressure.

This divergence between network fundamentals and price action raises questions about market sentiment and external factors influencing NEAR’s valuation. The inability to breach key resistance levels suggests cautious investor behavior, possibly due to broader market conditions or profit-taking dynamics.

Source: TradingView

Should bullish momentum return and NEAR break above the descending trendline, a retest of $2.80 or higher could be anticipated, potentially unlocking further upside. Conversely, a breakdown below critical support at $2.22 may trigger deeper declines, emphasizing the importance of this level as a near-term price floor.

Conclusion

NEAR Protocol’s impressive growth in monthly active users, transaction volume, and ecosystem development underscores its rising prominence in the Layer-1 blockchain landscape. However, the token’s price remains subdued, reflecting a disconnect between on-chain fundamentals and market valuation. Investors and observers should monitor key technical levels and ongoing development initiatives, as these factors will likely influence NEAR’s trajectory in the coming months. Continued innovation and expanding user engagement position NEAR as a blockchain to watch, with potential for price recovery contingent on broader market dynamics and investor confidence.