NEAR Protocol Climbs 4% After Sharp Correction, Buoyed by Strong User Metrics

NEAR Protocol Holds Ground Amid Market Turmoil, Emerges as Second-Largest L1 by Users

Even as crypto markets faced intense selling pressure following renewed conflict between Israel and Iran, NEAR Protocol has made a standout move—becoming the second most active Layer-1 blockchain with 46 million monthly users.

The milestone reflects robust user growth, placing NEAR ahead of long-standing giants like Ethereum, Binance Smart Chain, and Tron. Despite recent price declines, the surge in adoption points to deepening user engagement and a shift toward platforms offering cost-efficiency and enhanced user experience.

Analysts see this divergence between price and fundamentals as a signal of underlying strength. NEAR’s developer-first architecture, bolstered by account abstraction and chain signature features, has made it increasingly attractive to builders and end users. The protocol’s push into AI and Web3 consumer applications further underscores its ambition to lead the next phase of blockchain evolution.

Market Snapshot and Technical Levels

NEAR’s price fell from $2.50 to $2.18, registering a 12.8% drop within 24 hours.
Selling intensified during the early hours of Friday (00:00–02:00), where volumes surged between 5.4 to 6.9 million, confirming heavy resistance at $2.37.
A bounce attempt from $2.18 led to brief stabilization in the $2.21–$2.25 zone, though fading volume suggests buyers remain cautious.
Chart structure now shows symmetrical consolidation, with support at $2.20 and resistance near $2.30 as key inflection points.
A notable price move occurred between 13:31–13:40, with NEAR jumping nearly 4% to touch $2.239 on heightened volume (up to 147,856 units), forming a new short-term ceiling at $2.235.
The pullback to $2.214 found quick support, and prices reclaimed $2.22 soon after.
NEAR closed the latest hourly candle at $2.223, notching a modest 0.5% gain, while accumulation patterns hint at a potential recovery if price holds above near-term support.

Despite the uncertainty gripping the broader market, NEAR’s user growth trajectory paints a bullish long-term picture. If macro conditions stabilize, the protocol may be well-positioned to attract institutional capital and regain technical momentum.