NEAR Protocol Sees 46 Million Active Users in Q2 2025 Despite Token Price Stagnation

NEAR Protocol has demonstrated significant growth in user engagement and on-chain activity, despite a stagnant token price. The protocol has emerged as the second most active Layer-1 blockchain by monthly users, with an impressive 46 million active users in Q2 2025. This growth places NEAR just behind Solana, highlighting its rapid adoption and increasing appeal among developers and users.

Ask Aime: What's behind NEAR Protocol's surge in user engagement despite a stagnant token price?

NEAR's on-chain metrics, including user engagement, transaction volume, and total value locked (TVL), have shown robust activity. The NEAR Intents protocol processed nearly $89 million in volume over the past month, with over 326,000 swaps executed. Daily activity remains strong, with $1.26 million in volume and 802 unique users in the last 24 hours alone. Weekly and monthly unique user counts—5,114 and 22,003 respectively—alongside support for 87 assets and a TVL of $13.1 million, demonstrate broad and growing engagement. These metrics suggest that NEAR’s infrastructure supports diverse applications and increasing liquidity, reinforcing its competitive stance.

The NEAR Infra Committee’s investments in AI technology, decentralized RPCs, and chain abstraction projects highlight a strategic focus on innovation. These initiatives aim to enhance scalability and interoperability, positioning NEAR at the forefront of blockchain infrastructure development amid the rise of AI and multichain ecosystems.

Despite the strong on-chain momentum, NEAR’s token price has struggled to reflect this growth. Trading at approximately $2.49, the token recently faced resistance near $2.80 and failed to break above a descending trendline, signaling persistent bearish pressure. This divergence between network fundamentals and price action raises questions about market sentiment and external factors influencing NEAR’s valuation. The inability to breach key resistance levels suggests cautious investor behavior, possibly due to broader market conditions or profit-taking dynamics.

Should bullish momentum return and NEAR break above the descending trendline, a retest of $2.80 or higher could be anticipated, potentially unlocking further upside. Conversely, a breakdown below critical support at $2.22 may trigger deeper declines, emphasizing the importance of this level as a near-term price floor.

NEAR Protocol’s impressive growth in monthly active users, transaction volume, and ecosystem development underscores its rising prominence in the Layer-1 blockchain landscape. However, the token’s price remains subdued, reflecting a disconnect between on-chain fundamentals and market valuation. Investors and observers should monitor key technical levels and ongoing development initiatives, as these factors will likely influence NEAR’s trajectory in the coming months. Continued innovation and expanding user engagement position NEAR as a blockchain to watch, with potential for price recovery contingent on broader market dynamics and investor confidence.