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NEAR Protocol aims to focus on aggressive growth in these areas

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NEAR Protocol aims to focus on aggressive growth in these areas
Source:: StockAI


  • NEAR revealed that its long-term adoption goal is to have over one billion users.
  • The network has maintained healthy development activity over the last six months.

It has been quite a year in 2022 as the bears took over the market, leading to a mass exodus of liquidity. Most blockchain companies have thus had more time to focus on building and NEAR Protocol is one of them.


Read NEAR Protocol’s [NEAR] price prediction 2023-2024


The NEAR Protocol has reiterated its strong and aggressive focus on the pursuit of growth in the coming months. Its latest event dubbed as the “Go Forward” strategy call revealed the areas in which Near Protocol intends to target its focus. Here are some key takeaways that may help provide a decent understanding of the protocol’s current direction.

NEAR revealed that its long-term adoption goal is to have over one billion users. It intends to achieve this goal through a top-down approach with a target of 10 million new users per month.

Such a target suggests that the network is already averaging new monthly users within this range. Such high aspirations will require the network to focus aggressively on development.


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Speaking of development, the network will have to double down on activities aimed at facilitating the actualization of those targets. So far it has maintained healthy development activity over the last six months.

NEAR volume and development activity

Source: Santiment

Despite healthy levels of development activity, the network has experienced a substantial drop in volume. The development activity is expected to remain high in line with NEAR’s growth targets.

The network intends to maintain this growth through decentralization. It plans to hand over more control to individual nodes, especially those operated by DAOs that handle development aspects.

Dancing with the bulls

But can these NEAR Protocol’s strategies facilitate a resurgence of strong demand for the NEAR token? A look at sentiment metrics reveals that market sentiment has indeed achieved some recovery in the last seven days. The weighted sentiment registered an upsurge during this period.

NEAR binance funding rate and weighted sentiment

Source: Santiment

At the same time, we saw an uptick in the Binance funding rate, suggesting that the demand for NEAR in the derivatives market improved. This is particularly important for NEAR’s price action, especially at its current position.

NEAR traded at $1.285, at the time of writing, which was still within the lower monthly range. The bearish price action this month pushed it into oversold territory, hence the perfect time for a sentiment change.

NEAR price action

Source: TradingView

It is unclear whether the market will continue to fall as 2023 rolls in. NEAR’s current situation is still a nice position for a bounce back and a healthy discount.

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Michael is a full-time journalist at AMBCrypto. He has 5 years of experience in finance and forex and more than two years as a writer in the crypto and blockchain segments. Michael's writing at AMBCrypto is primarily focused on cryptocurrency market news and technical analysis. His interests include motorcycles and exotic cars.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.