Since its launch less than three months ago, NEAR Intents by Near Protocol has quickly become a key player in the cross-chain ecosystem.
Facilitating over $9.8 million in swap volume, it has gained strong adoption across Ethereum, NEAR, and Solana.
It has seen significant weekly activity and growing transaction volume.
NEAR Intents Grows Strong with $9.8M in Cross-Chain Swap Volume
Since its initial release fewer than three months ago, NEAR Intents received speedy uptake. This led to strong adoption across cross-chain swaps.
The platform now supports 12.1k swaps throughout 1.3k different addresses, which illustrates escalating user interest in its services.
The transaction volume for NEAR Protocol Intents stands at $9.8 million, which indicates robust expansion possibilities for the near future.
– Advertisement –
Source: Flipside
Throughout each seven-day period, the platform handles 500 to 1,000 transactions between 100 and 200 distinctive user wallets.
Weekly transactions at NEAR Intents surpass $500k and achieve their maximum of $3.4 million during high-demand weeks.
Source: Flipside
The statistics demonstrate how NEAR Intents has become a prominent, reliable solution for cross-chain transactions.
Ethereum, NEAR, and Solana Lead Transaction Volume
Ethereum, NEAR and Solana represent 80% of all transactions executed through NEAR Intents cross-chain swaps. They currently lead the transaction rankings.
The blockchain networks maintain leadership by demonstrating the highest swap volume numbers, which proves their power as dominants in cross-chain systems.
The pair of Ethereum and NEAR Protocol shows the highest connection, while Solana maintains a strong presence among all blockchain transactions on NEAR Intents.
Source: Flipside
The primary cross-chain swap pathways on NEAR Intents involve routes that link NEAR with Ethereum as well as pairs that move Ethereum to NEAR and Solana to Ethereum.
The platform shows efficient network connectivity between the major blockchain platforms that are widely used today.
The network expands its use cases based on data that demonstrates the central role Ethereum and NEAR have in enabling cross-chain swaps.
Popular Swap Pairs and Wallet Activity
Moreover, the three swap pairs generating the highest volume collectively are USDC → BTC, wNEAR → USDC and TRUMP → USDT.
The trading pairs consist of stablecoins along with major cryptocurrencies that hold high market value.
Source: Flipside
NEAR to SOL, wNEAR to USDC and USDC to wNEAR are the swap pairs where the maximum number of wallets are engaging with the platform.
Source: Flipside
The understanding of the most transacted tokens on NEAR Protocol Intents depends heavily on the analysis of swap pairs combined with chosen routes.
These pairs demonstrate the escalating participation of users along with widespread adoption of NEAR Intents for cross-chain transactions through their recording of high volume and wallet activity.
NEAR Protocol Intents’ Impact on the Cross-Chain Ecosystem
NEAR Intents revolutionizes cross-chain swap protocols through an easier swap system that provides increased liquidity across numerous blockchain networks.
Rapid adoption occurs because NEAR Intents has perfected its user interface.
NEAR Intents emerges as a prominent player in the developing cross-chain environment behind Ethereum and NEAR and Solana in terms of transaction counts.
Users gain better access to decentralized finance (DeFi) services through the token, which removes blockchain network barriers.
The platform’s ability to connect liquidity across many chains will attract more users while stimulating continued growth of its cross-chain solutions.
The platform advances NEAR Intents into a fundamental decentralized finance framework for the approaching future.
NEAR Protocol Price Action: A Volatile Path
The NEAR/USD price chart displays price fluctuations from $5.50 to $3.00.
The price withdrew from its position at $5.50, which served as resistance and now remains close to the $3.00 support.
The NEAR price maintaining itself above $3.00 might indicate an approaching trend reversal toward $5.50 resistance.
If the token maintains its position above the support zone, then a 77% uptrend could push its price to the resistance level
NEAR/USD Source: Tradingview
However, a price drop might occur if the $3.00 support level loses its ability to resist price decline. The price may sink even lower to $0.9 support level.
Read the full article here
