• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

NEAR Platform Active Users Soar Courtesy Of ‘Sweat Economy’

in Crypto Price Analysis
Reading Time: 3 mins read
NEAR Platform Active Users Soar Courtesy Of ‘Sweat Economy’
12
VIEWS
Share on Facebook

NEAR, the native token of decentralized application (dApp) platform and Ethereum competitor Near Protocol, managed to pump its price over the last 24 hours.

According to tracking from Coingecko, at the time of writing, the crypto is trading at $2.98 and was up by 1.2% on its intraday price.

The altcoin, however, is still reeling from significant losses as it is still down by 15.4% over the past week and is -14.6% for the past 14 days. On a month-to-date scale, the coin is down by nearly 30%.

But as bleak as the situation may be for the altcoin, hope is not lost as Near Protocol’s recent developments and activities could help the asset mount a bounce back rally.

Near Protocol Active Users Increase

Renowned crypto analytics firm Messari shared on Twitter that the protocol outperformed many of its competitors with the help of the “Sweat Economy.”

Sweat Economy, much like the STEPN, is a move-to-earn fitness application which enable users to earn tokens just by moving their body.

The platform of native token NEAR also recorded a massive surge in terms of active users, indicating growing interest for the dApp and maybe its governance crypto.

🎉Sweat Wallet: 3.5 million active users in the first month💧

An incredible user base. Thank you to everyone for your support! We’ll keep developing new utility and features to inspire you to move 😀🚶 pic.twitter.com/VFFTpUL9Iv

— Sweat Еconomy 💧 (@SweatEconomy) October 17, 2022

During the NEARCON 2022 in Lisbon which showcased the best of NEAR ecosystem and community, it was revealed that there are now 20 million accounts, doubling the 10 million user count in July this year.

Sweat Economy accounted for 14 million new users that entered the Near Protocol with their own move-to-earn app.

With the tremendous growth, NEAR has once again proven it can welcome millions of users across more than 800 apps running on the protocol without a hitch.

Price Prediction Not Looking Good

The recent success being enjoyed by the Near Protocol is one hope its native token, NEAR, is counting on to get out of its current slump.

But things will take a turn for the worse for the crypto asset, as Coincodex predictions point at another price dip.

“Sweat to Earn?”@NEARProtocol had a massive spike relative to the average number of daily active users on the platform.

The spike was driven by @SweatEconomy, a @Stepnofficial-esque move-to-earn application. pic.twitter.com/irzT7LNAGR

— Messari (@MessariCrypto) October 15, 2022

The online crypto data provider predicts the altcoin will fall to $2.65 over the next five ways. Meanwhile, the 30-day forecast for the cryptocurrency is more bearish as the asset could fall all the way to $1.22.

NEAR has 25 indicators that signal bearish momentum for the crypto which scored 20 on Fear and Greed Index, suggesting there is extreme fear towards the altcoin.

NEAR market cap at $2.5 billion on the weekend chart | Featured image from Freepik, Chart: TradingView.com

Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.

Source link


  • Trending
  • Comments
  • Latest
SHAmory Announces Satoshi Plush That Will Support The Built With Bitcoin Foundation

SHAmory Announces Satoshi Plush That Will Support The Built With Bitcoin Foundation

24 March 2023
New Feature Enables Nigerian Metamask Wallet Users to Buy Crypto Assets Within the App – Wallets Bitcoin News

New Feature Enables Nigerian Metamask Wallet Users to Buy Crypto Assets Within the App – Wallets Bitcoin News

23 March 2023
Federal Reserve Hikes Rates Up by 25 Basis Points Despite Banking Turmoil

Federal Reserve Hikes Rates Up by 25 Basis Points Despite Banking Turmoil

23 March 2023
Nexon picks Polygon Supernets for “MapleStory Universe” and NFT ecosystem expansion

Nexon picks Polygon Supernets for “MapleStory Universe” and NFT ecosystem expansion

23 March 2023
TRX, HT, BTT Crashed After SEC Accused Justin Sun of Securities Fraud

TRX, HT, BTT Crashed After SEC Accused Justin Sun of Securities Fraud

23 March 2023
FTX Founder SBF Faces Scandal for Bribing $40 Million to Chinese Officials to Unfreeze Alameda’s Crypto Accounts

FTX Founder SBF Faces Scandal for Bribing $40 Million to Chinese Officials to Unfreeze Alameda’s Crypto Accounts

28 March 2023
CFTC Crypto Assessment In Binance Case Not Exciting

CFTC Crypto Assessment In Binance Case Not Exciting

28 March 2023
Binance saw $850M withdrawal prior to CFTC indictment: Data

Binance saw $850M withdrawal prior to CFTC indictment: Data

28 March 2023
Yuga Labs to Launch Art Collection on Bitcoin

Yuga Labs to Launch Art Collection on Bitcoin

27 March 2023
Allocation Update Q3 2022 | Ethereum Foundation Blog

Allocation Update Q3 2022 | Ethereum Foundation Blog

27 March 2023

  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
Preferences
{title} {title} {title}