Indirect perspective on Near Protocol (NEAR) - one of the hottest cryptos of the past month

Hi everyone! My team and I are analyzing crypto projects based on their indirect indicators and trying to find valuable insights for your investment decisions.

Today NEAR ticker will come under the analysis since it's been one of the hottest crypto projects over the past month.

NEAR Protocol is a layer-one blockchain that was designed as a community-run cloud computing platform, and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps and creates a developer and user-friendly platform. They do even have a separate developers community - devs.near.

The project is one of the top tickers by the number of active GitHub contributors over the past month, with a total of 147 contributors in March:

Taking a closer look at NEAR's GitHub activity, we can see a positive trend - the number of active contributors has been at the same level (100-150 contributors) over the past year, so the project is being actively developed:

NEAR has been making lots of news recently, but the most exciting is the rumors about the pending launch of its own algorithmic dollar-denominated stablecoin (USN). If USN launches and becomes widely adopted, this will be a significant catalyst for Near Protocol. The token’s algorithmic nature puts it in direct competition with Terra’s UST.

Can NEAR compete Terra? That's a good question, and we'll only see the results after they launch its stablecoin. But NEAR has a strong community and support from investors - almost 50K on the Discord channel, 57K on the Telegram channel, and 423K Twitter followers:

Summarizing all the above, I would like to underline that NEAR is climbing new heights in 2022. The project is in the active development stage, and its community is constantly growing. The pending launch of its USN coin can be a power punch for NEAR, but lots of time and adoption will be needed to become the next Terra.

If you are interested in getting access to these and many other dashboards with alternative data for 7,700 crypto projects (Discord/Telegram audience, Twitter mentions,  development activity, etc.), just drop us a line here:

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