Near Protocol (NEAR) gains ground, becomes the second most used L1 blockchain

Digital assets witnessed substantial volatility in the past 24 hours as Bitcoin plunged to weekly lows of around $107.76K at press time. While altcoins followed with notable dips, Near Protocol dominated the fundamental chatter. Near has seen remarkable growth this year, surpassing top layer-1 rivals like Ethereum, Binance Chain, and Tron in monthly active users (MAUs). Bitwise data shows that in May 2025, Near Protocol attracted 46 million MAUs, becoming the second L1 platform behind Solana. Crypto Aman @cryptoamanclub · Follow $NEAR Protocol has become the leading L1 blockchain by monthly active users, reaching 46 million in May 2025.Among all L1 networks, $NEAR ranks second only to #Solana in terms of active addresses. 11:39 am · 12 Jun 2025 21 Reply Copy link Read 34 replies The stats indicate shifting user preferences, with Near attracting individuals due to its friendly transaction costs, speed, and usability. L1 enthusiasts switch to Near Protocol Near has become among the top go-to projects for digital asset traders and investors. Its user- and developer-friendly infrastructure makes the protocol attractive to experienced and new participants. With features like account abstraction, chain signatures , and the expanding ecosystem of wallets and decentralized applications (dApps), Near removes entry barriers in the blockchain industry. It positions itself as the blockchain for AI, looking to power the next generation of intelligent agents and dApps. Also, Near Protocol leverages an advanced scalability solution, nightshade sharding, to handle massive blockchain activities while promoting decentralization. Further, the blockchain’s venture into web3 consumer apps has contributed to its growth. It boasts gaming applications, top-notch creator tools, and blockchain-centered social platforms. While users enjoy cheap and faster transactions, developers on the Near ecosystem can build scalable apps seamlessly. Evaluating Near’s user growth Bitwise compared monthly active users across top L1s between Q4 2022 and Q2 2025. Near Protocol began as a minor network in 2022 before steadily rising from early 2024. The protocol maintained stable growth to surpass established names like Ethereum and Tron in user activity. Solana remains the top layer 1, with meme coins, NFTs, and DePIN dominance keeping it afloat. However, NEAR is closing in on it. BNB Chain saw a notable dip in active usage, whereas Ethereum dominates institutional credibility and developer loyalty. Nevertheless, slow transactions and high fees made ETH less appealing to web3 enthusiasts. NEAR price outlook The native token traded in red after losing nearly 5% in the past 24 hours. Near hovers at $2.48 after losing 19% on its monthly price chart. Chart by CoinMarketCap It trades below the key 50- and 100 EMAs on the daily chart, indicating seller control. Bears will target the nearest support barrier at $2.244 – a 10% plunge from NEAR’s current market price. Meanwhile, holding the $2.20 – $2 foothold in the short term could attract buyers. A rebound from this support barrier would see NEAR soaring to $3.20 and open the path to $4.20. However, losing $2 will invalidate potential short-term uptrends and catalyze notable dips or extended consolidations for the NEAR price. The post Near Protocol (NEAR) gains ground, becomes the second most used L1 blockchain appeared first on Invezz

Source: Invezz