NEAR Protocol, the Blockchain Operating System (BOS), experienced significant growth in key metrics during the fourth quarter (Q4) of 2023. The protocol’s native token, NEAR, recorded a remarkable 16% year-to-date growth and witnessed a surge in adoption. Circulating Market Cap Soars 245% According to a Messari report, the entire crypto market cap increased in Q4 2023, largely driven by the anticipation surrounding the introduction of spot Bitcoin exchange-traded funds (ETFs). NEAR actively participated in the overall market rally and achieved additional gains due to its heightened network activity and significant announcements. As a result, NEAR’s circulating market cap for the end of 2023 reached $3.7 billion, marking a 245% increase quarter-on-quarter (QoQ) and a 246% increase year-on-year (YoY). Furthermore, NEAR’s fully diluted market cap reached $4.3 billion. The protocol’s market cap ranking also soared, climbing 10 places to reach approximately 30th by the end of 2023. Related Reading: Selling Pressure Subsides As Grayscale Sends 8.6K Bitcoin To Coinbase, Falling Below Average In Q4 2023, NEAR’s revenue grew substantially, primarily generated from network transaction fees, reaching $750,000. The increase in revenue was attributed to the heightene ..
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