- Active addresses on the protocol were six times that of Ethereum.
- NEAR’s price might continue to outclass ETH despite the difference in developments.
Not only has NEAR Protocol’s [NEAR] price beaten Ethereum [ETH] hands down in the last seven days, but it has also surpassed the blockchain on many other fronts.
At press time, NEAR’s price changed hands at $7.51, representing a 39.06% increase in the last seven days. ETH, on the other hand, traded at $3,171. This was a 6.02% decrease in the last 30 days.
But it did not end there. According to Artemis data, active addresses on the Ethereum blockchain were 406,200 as of this writing and had remained in the same region.
Source: Artemis
ETH is not the L1 maestro: Who is?
For NEAR, it was an entirely different story. As of the 7th of April, active addresses on the protocol were less than one million.
However, data from the developer analytics platform showed that the metric was 2.3 million.
NEAR operates on the same Proof-of-Stake (PoS) consensus as Ethereum. However, it seemed that users and developers alike preferred the chain abstraction stack provided by the former.
Apart from this, there are not many layer-1 projects that possess the kind of scaling power like NEAR. As such, users can make faster and cheaper transactions without waiting for the layer-2s on Ethereum.
With the kind of momentum, the protocol has shown, ETH might find it hard to match up to the token in terms of its price. Another catalyst fueling the token’s hike in the buzzing narrative around AI.
The result of this is an incredible surge in market cap. Some months back, the protocol’s market was not in the top 25. But as of this writing, the project is ranked number 17, with a market cap of $7.36 billion.
Source: CoinMarketCap
Wins for both sides on different ends
Furthermore, the last 30 days have seen fees on the network jump by 51%, with an average of $42,000. While this might help NEAR surpass ETH’s market cap, it could drive its revenue very close to Ethereum’s.
Another metric AMBCrypto looked at was development activity. According to Santiment, development activity on NEAR Protocol was 27.98. This was a significant increase from what the reading was on 16 April.
For Ethereum, the metric was 52.91, indicating that code committed to the blockchain’s new features and security was more than NEAR.
Source: Santiment
With this data, NEAR might not be able to outpace Ethereum when it comes to public GitHub repositories. However, it might be a different encounter with their respective prices.
Realistic or not, here’s NEAR’s market cap in ETH terms
For instance, ETH has been lagging for a while. If this continues in the short term, the price action might not be able to compete with NEAR’s growth.
However, in the long term, the circumstances might change if ETH starts moving. But within the next few weeks or months, NEAR might continue to outpace Ethereum’s metrics on-chain as well as its price.
- Active addresses on the protocol were six times that of Ethereum.
- NEAR’s price might continue to outclass ETH despite the difference in developments.
Not only has NEAR Protocol’s [NEAR] price beaten Ethereum [ETH] hands down in the last seven days, but it has also surpassed the blockchain on many other fronts.
At press time, NEAR’s price changed hands at $7.51, representing a 39.06% increase in the last seven days. ETH, on the other hand, traded at $3,171. This was a 6.02% decrease in the last 30 days.
But it did not end there. According to Artemis data, active addresses on the Ethereum blockchain were 406,200 as of this writing and had remained in the same region.
Source: Artemis
ETH is not the L1 maestro: Who is?
For NEAR, it was an entirely different story. As of the 7th of April, active addresses on the protocol were less than one million.
However, data from the developer analytics platform showed that the metric was 2.3 million.
NEAR operates on the same Proof-of-Stake (PoS) consensus as Ethereum. However, it seemed that users and developers alike preferred the chain abstraction stack provided by the former.
Apart from this, there are not many layer-1 projects that possess the kind of scaling power like NEAR. As such, users can make faster and cheaper transactions without waiting for the layer-2s on Ethereum.
With the kind of momentum, the protocol has shown, ETH might find it hard to match up to the token in terms of its price. Another catalyst fueling the token’s hike in the buzzing narrative around AI.
The result of this is an incredible surge in market cap. Some months back, the protocol’s market was not in the top 25. But as of this writing, the project is ranked number 17, with a market cap of $7.36 billion.
Source: CoinMarketCap
Wins for both sides on different ends
Furthermore, the last 30 days have seen fees on the network jump by 51%, with an average of $42,000. While this might help NEAR surpass ETH’s market cap, it could drive its revenue very close to Ethereum’s.
Another metric AMBCrypto looked at was development activity. According to Santiment, development activity on NEAR Protocol was 27.98. This was a significant increase from what the reading was on 16 April.
For Ethereum, the metric was 52.91, indicating that code committed to the blockchain’s new features and security was more than NEAR.
Source: Santiment
With this data, NEAR might not be able to outpace Ethereum when it comes to public GitHub repositories. However, it might be a different encounter with their respective prices.
Realistic or not, here’s NEAR’s market cap in ETH terms
For instance, ETH has been lagging for a while. If this continues in the short term, the price action might not be able to compete with NEAR’s growth.
However, in the long term, the circumstances might change if ETH starts moving. But within the next few weeks or months, NEAR might continue to outpace Ethereum’s metrics on-chain as well as its price.
I like what you guys are up too. Such clever work and reporting! Keep up the superb works guys I¦ve incorporated you guys to my blogroll. I think it will improve the value of my site 🙂
This is the appropriate blog for anyone who needs to seek out out about this topic. You notice a lot its almost arduous to argue with you (not that I really would want…HaHa). You positively put a new spin on a topic thats been written about for years. Great stuff, just great!
Hello there, just became alert to your blog through Google, and found that it’s really informative. I am going to watch out for brussels. I will be grateful if you continue this in future. Many people will be benefited from your writing. Cheers!
can i purchase generic clomid without a prescription can you buy cheap clomiphene without a prescription how can i get cheap clomiphene without prescription how to buy cheap clomid how to get cheap clomid no prescription clomid tablet price how to buy clomiphene
This is the stripe of glad I get high on reading.
I’ll certainly return to review more.
azithromycin 500mg canada – ofloxacin 200mg cheap buy metronidazole 200mg pill
order semaglutide 14mg online – brand periactin order periactin pill
order motilium 10mg for sale – order flexeril 15mg generic order generic flexeril
I would like to thnkx for the efforts you have put in writing this blog. I am hoping the same high-grade site post from you in the upcoming as well. In fact your creative writing abilities has inspired me to get my own blog now. Actually the blogging is spreading its wings rapidly. Your write up is a great example of it.
esomeprazole 20mg usa – anexa mate esomeprazole where to buy
purchase medex without prescription – https://coumamide.com/ purchase losartan pills
Hmm it looks like your website ate my first comment (it was extremely long) so I guess I’ll just sum it up what I submitted and say, I’m thoroughly enjoying your blog. I too am an aspiring blog writer but I’m still new to everything. Do you have any points for newbie blog writers? I’d really appreciate it.
order generic meloxicam – relieve pain purchase mobic sale
buy deltasone 10mg online cheap – aprep lson deltasone 5mg uk
buy erectile dysfunction meds – fastedtotake.com male ed pills
amoxil buy online – combamoxi cheap generic amoxicillin
order diflucan 100mg pill – order diflucan 200mg generic fluconazole 200mg us
order cenforce 50mg pill – https://cenforcers.com/# buy cenforce 50mg pills
cialis from india – https://ciltadgn.com/ generic cialis 20 mg from india
buy ranitidine 300mg pills – site buy ranitidine 150mg online cheap
tadalafil without a doctor prescription – cialis windsor canada tadalafil long term usage