- Near’s recent development activities have increased dramatically.
- It comes as a result of a decrease in the number of users on the social network.
In the last month, Near blockchain [NEAR] Santiment noted in a post Twitter (now on X)
The development activity metric is based on the unique number of contributors to a particular project’s events, as well as the unique number of GitHub contributors.
This can give you an idea of a project’s dedication to creating and shipping a product, as well as the probability that it will ship new features. A project that has high levels of development can reduce the risk it is an exit scheme.
Santiment reported that Near had 188 development activities in the last thirty days. Oasis Network [ROSE] Golem [GLM] With scores of 162 for each, and 90 for the other, they fell behind.
The user activity dropped on Near
Near’s user activity peaked in the first few days of this month, and since then has been trending downward. A study of demand for Proof of Stake blockchains revealed that the number of addresses on the network has decreased since the 1st of March.
The following is a list of The Block Data DashboardOn 14th of March, the number of new addresses in Near transactions totalled 379,000.
It was a decrease of 24% compared to the 498,000 addresses which used the network on March 1st.
Click Here to Read Near Protocol’s [NEAR] Price Prediction 2023-24
AMBCrypto discovered that its daily transaction counts, calculated using a 7-day moving mean, also plummeted over the same period. The daily number of Near transactions decreased by 17 percent between the 6th to 14th March.
The network’s demand has fallen, and so have the transaction fees. Artemis’ Data showed a drop of 41% in daily transaction fees, and a 40% decline in protocol revenues between the 4th and the 11th March.
The protocol’s NEAR native coin has seen a three-digit increase in value over the past month. The altcoin, which was valued at $7.44 as of press time has risen 117% since the previous 30 days.
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Source: ambcrypto.com