This Near Weekly Recap is provided solely for informational purposes and does not constitute investment advice. Last week was a bad week for the market. $BTC has dropped to $27K, the lowest level since the beginning of 2021, due to the general influence of the world financial situation. Combining the collapse of the Terra ecosystem when $UST officially lost its peg is a huge blow to the market. The $NEAR ecosystem was also hit hard as the $NEAR price dropped by more than 50%. Let’s take a look at the important highlights of the NEAR ecosystem in the past week.
Network Growth
Daily Transactions
This week, the NEAR ecosystem has 7,017,409 transactions, an average of 1,002,487 transactions per day, a decrease of 5.15% compared to the previous week, with the number of transactions in week 18 being 7,399,186 transactions.
Unique Addresses
The Near ecosystem has reached the milestone of more than 10M addresses. Specifically, there are currently more than 10,904,104 unique addresses in the Near ecosystem, an increase of approximately 13.97% compared to the number of addresses last week. The number of new addresses created in the past week was 1,337,370.
Active Addresses
There are 52,337 active addresses this week, a significant 18.8% decrease in the number of active wallets compared to last week. On average, 7,476 addresses have transaction activity on the Near ecosystem every day. However, Unique addresses have increased sharply in the past two weeks. But the number of active addresses is less. We can conclude, that there is a large number of new users coming to the Near ecosystem, but because the market is very gloomy, they are not active yet. If the market recovers. Near is likely to be the fastest-growing ecosystem.
Total Value Locked
The total value locked plummeted to $948.58 million, a decrease of approximately 44.85%, which is a significant drop and will weigh heavily on growth in the near term. Last week’s TVL drop came from the main drop in TVL on AURORA; TVL on AURORA fell 56.91% from last week to $491.21 million. TVL on Near is down only 21.8% from week 18.
Highlight Events
Near Foundation establishes new blockchain hub in Kenya
Several recent studies have estimated that emerging economies and many developing countries are particularly strong regions for the cryptocurrency industry. Most African countries fall within this range. Kenya is such a case in point, having become the fifth-ranked country in the Global Crypto Acceptance Index of 2021.
And now, the country takes it one step further to interact more closely with the crypto market. Specifically, the Near Foundation has partnered with Kenyan blockchain community Sankore to create a crypto education center for locals. Besides, the unit will also aim to find and develop talent for this field throughout the African continent.
More information: click here
Aurora launches $90 million developer fund to boost DeFi on NEAR Protocol
Aurora, a blockchain layer on the NEAR Protocol, has launched a $90 million token fund to accelerate the development of decentralized finance (DeFi) applications.
The fund was unveiled in collaboration with Proximity Labs, NEAR Protocol’s DeFi arm. Aurora Labs, the core development team behind Aurora, allocated 25 million aurora tokens (about $90 million) from its DAO treasury to Proximity Labs to seed the fund.
Aurora Labs said it hoped to make its EVM layer on Near more appealing to Ethereum developers with its new developer fund launch.
More information: click here
Aurora DAO approves $AURORA staking contract.
To be able to launch its decentralized governance safely and to reward its long-term token holders, Aurora needed a staking contract for the $AURORA token.
Through staking, users will receive $AURORA rewards and voting rights, represented as yet-to-be-designed VOTE tokens with their respective mechanics.
More information: click here
Sender Announces Partnership With Burrow
The sender has completed the integration with Burrow, and it is now live on the mainnet. This whole integration process is now much easier with Wallet Selector, which allows users to switch between Near Web Wallet, Ledger Wallet, and Sender Wallet to deposit and borrow on Burrow.
Spotlight Projects
Top 10 Losers of Near Ecosystem
Top Decentralized apps by TVL on Near Ecosystem
Liquidity Aggregation goes live on Ref Finance.
Composability and interaction between protocols are the beauty of DeFi. Its enhancement on Aurora and NEAR Ecosystem has risen significantly over the last three months, with 800M+ TVL pouring into the ecosystem, kickstarting many innovative protocols building for the future of the NEAR Ecosystem.
As a multi-chain future is on the horizon, the ability to create a simple and frictionless experience, taking the best out of different environments, will be key.
Following that vision, Ref Finance introduces the latest feature, Liquidity Aggregation, to pilot all liquidity from Aurora and NEAR Ecosystem into one place, taking a huge step to enter the multi-chain world.
More information: click here
Find more information about NEAR
Website: https://near.org/
Whitepaper: https://near.org/papers/the-official-near-white-paper/
Twitter: https://twitter.com/NEARProtocol
Telegram: https://t.me/cryptonear
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Ken. N
Coincu Ventures
