NEAR Protocol (NEAR) Has Recorded The Highest User Retention Among All L1s

NEAR Protocol (NEAR) reports notable achievements by the community and developers. Its main cryptocurrency is also among the best performers over the past seven days. Over the past 12 months, NEAR Protocol (NEAR) has demonstrated the highest user retention rate among L1 altcoins. According to data provider Artemis, the main adoption rate for this blockchain is 9.53%. All of NEAR Protocol’s (NEAR) competitors have demonstrated lower long-term retention rates. For example, Avalanche (AVAX) saw only 8.19% of users return to C-chain over 12 months, while for BNB Chain this figure barely exceeded 7%.

According to the data, the largest blockchains by TVL, Ethereum (ETH) and Tron (TRX), failed to achieve 5% user retention over the past 12 months. According to statistics from DefiLlama, there are 19 active DeFi applications on the NEAR Protocol (NEAR) with a cumulative TVL equivalent to US$306 million. Burrow, LiNEAR Protocol and Meta Pool Near are the largest NEAR’s DeFis by TVL. They operate in the decentralized lending and liquid staking segments.

NEAR, the main cryptocurrency of the NEAR Protocol, was the best-performing major altcoin last week, according to CoinGecko. Among all the top 100 coins, it became the fifth fastest growing altcoin with an increase of 26% in seven days. The growth of NEAR can be attributed to the potential integration of AI, which is critical to the use of NEAR Protocol (NEAR) in this thriving segment.

Image: Binance Academy