NEAR's transparency report indicates that network performance is improving. The total number of tokens in circulation has increased by 3 million in the last week. The total number of active accounts has surpassed 22 million.
The NEAR network revealed in its Friday transparency report that the protocol and token are still going strong despite the market's plunge into the collapse of Sam Bankman's Fried FTX empire.
Read the latest Transparency Report from the @NEARFoundation below: https://t.co/guypc7UOrJ
— NEAR Protocol | Create Without Limits (@NEARProtocol) November 26, 2022
According to the report, the total number of active accounts has increased rapidly, reaching 22 million. The average number of new accounts created on NEAR per day is currently between 35,000 and 38,000. However, this figure is down from the previous week, when it averaged 37-39,000 accounts per day.
The circulating supply of tokens has been steadily increasing. Another 3 million tokens were moved from the lock contract to the circulating supply in the last week, bringing the total number of tokens in circulation up from 827 million to 830 million.
Furthermore, the daily trading volume has increased, with the daily average now approaching 1 million, a significant increase from before.
With investors such as Andreessen Horowitz, Stake Capital, and MetaStable on board, it's difficult to dismiss Near Protocol's potential.
Near Protocol, with its user-friendly, easy-to-develop platform, could be the ideal solution for mass adoption of Web3 applications. And as more people begin to use and comprehend the protocol, the demand for Proximity Protocol will only grow. By the end of 2024, the Near Protocol price prediction state could be as high as $4.
