Analytical & Institutional Tone
NEAR Protocol Defies Market Turmoil With Soaring User Metrics, Price Action Lags
NEAR Protocol has risen to become the second most-utilized Layer-1 blockchain, amassing over 46 million monthly active users, even as its token price struggles under broader market pressure triggered by geopolitical instability.
The recent escalation between Israel and Iran led to a risk-off environment in crypto markets, fueling a widespread sell-off. NEAR was not immune, experiencing a sharp 12.8% intraday decline, yet its growing user base paints a more resilient picture beneath the surface.
With adoption outpacing that of Ethereum, Binance Smart Chain, and Tron, NEAR’s success is attributed to its scalable architecture, low fees, and developer-centric features like account abstraction and chain signatures. Its expansion into AI and Web3 consumer products further bolsters its ecosystem appeal.
Price Action & Technical Levels:
- The token fell from $2.50 to $2.18 in 24 hours, forming strong resistance near $2.37 amid heavy overnight volume.
- A weak rebound followed, with consolidation occurring between $2.21 and $2.25 on lower volume, signaling cautious sentiment.
- Key support is now observed at $2.20, with short-term resistance at $2.30.
- In the last trading hour, NEAR rebounded nearly 4%, peaking at $2.239, before retracing slightly to close at $2.223—a 0.5% gain.
- Volume trends suggest accumulation at lower levels, with bulls aiming to establish control above the $2.22 threshold.
While technical signals remain mixed, NEAR’s underlying strength through active user growth and a widening ecosystem could position it favorably once macro headwinds subside.
