NEAR concludes a strong week on the back of these indicators

The NEAR protocol has seen a sharp change in fortunes. Social activity on the NEAR protocol was a strong predictor of increased activity.

according to LunarCrush, the Alt rank of the NEAR token has decreased over the past three days. This was also reflected in the price of NEAR which reacted favorably.

At press time, the NEAR token is up 3.5% in the past 24 hours after the cryptocurrency market has seen some respite since August 30th.

In addition to. At the time of writing, the token was trading at $4.3 and was looking to build on short-term returns.

Source: LunarCrush

NEAR Protocol’s Near Daily Twitter account also posted one Modernization of NEAR’s social performance in the past week. The update claimed that the protocol had seen a significant increase in its social size which increased by 25.5%.

Social participation also increased by 13.7% during this period, while social dominance reached 20.1%.

What do the data say?

Soon daily too assembly and production List of winners in the NEAR ecosystem (in the last 24 hours). The data claimed that Ref Finance was the biggest gainer since August 30 with a 12.4% share.

Ref Finance was followed by Trisolaris, a DEX lead on NEAR’s Aurora EVM. It accumulated 9.7% and was followed by NEAR which finished the day with 9.3% according to the update.

Source: Near Daily

Additionally, TVL on NEAR and Aurora has reached $435 million as the protocol begins to show promise in DeFi.

Additionally, the best TVL dApp in the ecosystem as of August 31 was Ref Finance with a cost of over $232 million. It was followed by the Bastion Protocol, which contributes more than $91 million to the ecosystem.

The community was also happy to hear that the NEAR protocol is now supported on Chainstack.

The protocol also managed to distract another potential hack through bridges. As of last week, NEAR’s Rainbow Bridge was able to withstand its second attack within a few months.

What is more interesting is that the bridge managed to secure all the funds and also cost the attacker five ETH in 31 seconds. These indicators continue to indicate that the NEAR protocol has increased development activity on the network.

In addition, robust anti-hack measures contribute to creating a sound foundation for the development of NEAR from here.

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