NEAR Protocol has stirred the blockchain industry, reporting an increase in its monthly active users (MAUs). By May 2025, NEAR had achieved an incredible 46 million monthly active users (MAUs), making it the second-largest Layer-1 blockchain after Solana. It is a historical milestone in the development of blockchain, as it has surpassed other projects, including Ethereum and Binance Chain, in terms of user activity.
Source: X
The expansion of the protocol is attributable to its user-centric infrastructure. NEAR simplifies blockchain access through features like account abstraction, chain signatures, and a robust dApp ecosystem. These enhancements make it more user-friendly for both new and existing users. Its emphasis on usability is paying off, as NEAR is gaining traders and investors in the digital assets domain.
Nightshade sharding is NEAR’s scalability solution designed to handle large-scale blockchain operations. While maintaining decentralization, it significantly boosts the platform’s performance. This makes NEAR well-suited for demanding Web3 use cases, including gaming, creator platforms, and blockchain-based social apps.
NEAR Protocol Sees Surge in Market Activity Despite Price Decline
Coinglass recorded a remarkable level of market activity for NEAR. The Volume increased by 14.14% to hit $495.52M, and the Open Interest increased by 5.42% to reach $251.97M. Such numbers demonstrate the rising confidence of investors and the growing presence of NEAR in the digital assets environment.
Source: Coinglass
Nevertheless, the native token of the NEAR protocol, NEAR, has experienced downward price movements, despite its rapidly increasing popularity. As of press time, NEAR is trading at $2.48 and is down by 6.30% over the past day. It is currently trading below the 50- and 100-day EMAs, indicating that the market has turned bearish.
Source: TradingView
Key Support at $2.20 and Strong Competition Ahead
On the technical side, NEAR has support at $2.20. If it maintains this range, then a bounce might take it to $3.20 or $4.20. However, losing this support could result in further declines. The growth story of NEAR has been resilient, and the short-term price movements have been affecting its momentum.
Since its launch, NEAR has expanded significantly to become more active in terms of users than some established smart contract platforms, such as Tron and Ethereum. Nevertheless, as Solana continues to hold the lead and Ethereum retains its institutional credibility, NEAR finds itself in tight competition. However, its focus on scalability, usability, and affordability makes it a formidable competitor in the Layer 1 race.
Related: NEAR Protocol Adds EdDSA Signing to Boost Cross-Chain Access
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