NEAR onchain growth: 7M daily txs, stablecoins near $700M, TVL up 2x
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Bullish call$NEAR+6.1%since this piece, moved with the callHow it played out ↓Walks through NEAR's 2024 growth after its Dune listing: about 7M daily txs, stablecoin supply nearing $700M and TVL up over 2x YTD. Attributes the activity to meta transactions and consumer apps, and expects a repricing of NEAR.
Key claims
About 7M daily txs
Stablecoin supply near $700M, 10x YTD
Meta transactions onboarded 43M wallets and 800M+ transactions
$NEAR is now live on @DuneAnalytics
Absolutely wild to see how onchain activity has exploded in 2024, with currently 7M txs on a daily basis.
Meanwhile, stablecoin supply on @NEARProtocol is about to breach $700M & TVL is up >2x YTD.
What is going on? Find out. ↓
What contributes to the growth on @NEARProtocol is on the one hand a vibrant DeFi ecosystem that features applications with increasing traction like:
- @burrow_finance (lending)
- @LinearProtocol (liquid staking)
- @meta_pool (liquid staking)
- @finance_ref (DEX)
- @TruFinProtocol (liquid staking)
- @allstake_fi (restaking)
- +++
Aside >100% TVL growth since the beginning of the year, the increasing activity in the ecosystem is also evidenced by the stablecoin supply on-chain, which has pulled a 10x YTD.
What about the transaction activity?
A lot of it stems from non-custodial wallets of users engaging with applications in the ecosystem.
That includes for example @here_wallet or @MeteorWallet, which alongside consumer apps like (Kai-ching & Sweat) and DeFi apps like @finance_ref, have used @NEARProtocol's unique meta transaction feature to onboard 43M wallets, signing 800M+ transactions through Relayers that are used to cover the fees of submitting and executing the transaction.
This allow users to execute transactions on $NEAR without owning any gas or tokens, completely abstracting the complexity of the blockchain backend.
Aside the massive scalability of the $NEAR blockchain, this industry-leading UX, makes @NEARProtocol the ideal chain for any consumer app and the adoption is already happening (with size).
However, we rarely hear/talk about these use cases here on CT.
One example is @CosmoseAI's KAIKAI, a shopping platform which combines a gamified shopping experience with $KAIC (a.k.a. Kai-ching) token rewards and AI-curated content.
Users get discounts when paying with $KAIC and can enjoy other benefits across the platform and supported shops.
Also counting in other apps like @ArkanaHQ (co-membership platform empowering businesses with thrilling experiences with digital item rewards) or @SweatEconomy (web3-powered health & fitness app), the consumer app category is responsible for a significant share of the overall network activity.
Personally, I strongly believe that this impressive growth will continue in the weeks and months to come, and ultimately also lead to a significant repricing of $NEAR as an asset that secures, fuels and powers this economy.
@NEARProtocol is cooking hard and also a leader at the frontier of user-owned AI and chain abstraction, two of the hottest narratives of the cycle.
For more on my $NEAR thesis, check the post I link in the comments! ↓
Want to know more about my $NEAR thesis?
Find alpha here. ↓
x.com/zerokn0wledge_/status/1848696722593116620
QUOTING @Dune
👏👏👏 @NEARProtocol is now LIVE on Dune! 👏👏👏 Starting today on Dune, you can - Track NEAR's network transactions and gas fees - Monitor dApps, DeFi, and NFT activity - Explore NEAR's Rainbow Bridge for asset transfers t.co/w9FT7AcTVW
👏👏👏 @NEARProtocol is now LIVE on Dune! 👏👏👏 Starting today on Dune, you can - Track NEAR's network transactions and gas fees - Monitor dApps, DeFi, and NFT activity - Explore NEAR's Rainbow Bridge for asset transfers t.co/w9FT7AcTVW
4 images on X
How the call played out · since 23 Oct 2024
Prices as of 23 Oct 2026This piece takes a view on $NEAR, so that move is read against the call.
+6.1%
Moved with the call · over 2 years
- At publication
- $4.68
- Now
- $4.96
- vs BTC
- −13%
- After 1 month
- +24%
- After 3 months
- +12%
- After 1 year
- −54%
- High since
- +72% 07 Dec 2024
- Low since
- −79% 12 Feb 2026
Since then
Zero has written 22 more pieces on NEAR Protocol and $NEAR since this one.
- Quantum and post-quantum map: PQ crypto assets by readinessOn NEAR
- I Built a Research Desk Staffed Entirely by AI Agents. It Works.Covers $NEAR
- New vs returning wallets across Ethereum, Solana, NEAR, Polygon and SuiCovers $NEAR
- NEAR DCML explained: confidential, verifiable and monetizable AI via TEEsCovers $NEAR
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish thesis is read as a call; explainers, maps and mentions are context. Not financial advice.