More
    HomeAltcoinsOne Ethereum Rival Gained Steam in Q3 2023, According to Binance Research

    One Ethereum Rival Gained Steam in Q3 2023, According to Binance Research

    Published on

    DIGITAL MARKETING SERVICES

    spot_img
    One Ethereum Rival Gained Steam in Q3 2023, According to Binance Research

    A new report from Binance Research claims that one Ethereum (ETH) competitor ignored the greater crypto market trend and witnessed a surge in activity in the third quarter of this year.

    Researchers at the top global crypto exchange by trading volume note that the smart contract platform NEAR Protocol (NEAR) clocked 120% quarter-on-quarter growth in terms of average monthly transactions.

    Explains Binance Research,

    “Blockchain activity generally declined across the board in Q3 with a fall in the number of transactions across most blockchains. Notwithstanding that NEAR is starting from a low base, it has witnessed increasing usage driven by top-down partnerships and grassroots initiatives.”.

    Source: Binance Research

    The researchers also note that NEAR Protocol registered an increase in daily active addresses in a quarter where most smart contract platforms suffered a decrease. The project reached an average of 650,000 daily active addresses and passed both Ethereum and Solana (SOL) in terms of that metric in September.

    USDC, the second-largest stablecoin by market cap, launched on NEAR in September, which helped fuel the protocol’s surge in active addresses, according to Binance Research.

    NEAR Protocol is focused on scalability and stability. The project aims to allow developers to build decentralized applications at low cost.

    The protocol’s native asset, NEAR, is trading at $1.12 at time of writing.

    Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

    Check Price Action

    Follow us on Twitter, Facebook and Telegram

    Surf The Daily Hodl Mix

    Check Latest News Headlines

    &nbsp

    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Generated Image: Midjourney

    The post One Ethereum Rival Gained Steam in Q3 2023, According to Binance Research appeared first on The Daily Hodl.

    COMMUNITY

    spot_img

    SITE VISITS

    Map

    Latest articles

    Altcoin That’s Exploded Over 700% in Six Months Gearing Up for the Next Leg Higher, Says Top Crypto Analyst

    A widely followed analyst and trader is expressing bullish sentiment on an Ethereum (ETH)...

    IMF Demands Changes to El Salvador’s Bitcoin law: Report

    IMF Demands Changes to El Salvador's Bitcoin law: Report The International Monetary Fund (IMF) is...

    Animoca Brands Japan Announces NFT Launchpad, Opens Applications for Summer 2024

    Animoca Brands Japan Announces NFT Launchpad, Opens Applications for Summer 2024 An NFT launchpad will...

    Blast-based Pac Finance unexpectedly liquidates users for $26 million

    Blast-based Pac Finance unexpectedly liquidates users for $26 million Blast-based lending protocol Pac Finance confirmed...

    More like this

    Altcoin That’s Exploded Over 700% in Six Months Gearing Up for the Next Leg Higher, Says Top Crypto Analyst

    A widely followed analyst and trader is expressing bullish sentiment on an Ethereum (ETH)...

    IMF Demands Changes to El Salvador’s Bitcoin law: Report

    IMF Demands Changes to El Salvador's Bitcoin law: Report The International Monetary Fund (IMF) is...

    Animoca Brands Japan Announces NFT Launchpad, Opens Applications for Summer 2024

    Animoca Brands Japan Announces NFT Launchpad, Opens Applications for Summer 2024 An NFT launchpad will...
     - 
    Arabic
     - 
    ar
    Bengali
     - 
    bn
    German
     - 
    de
    English
     - 
    en
    French
     - 
    fr
    Hindi
     - 
    hi
    Indonesian
     - 
    id
    Portuguese
     - 
    pt
    Russian
     - 
    ru
    Spanish
     - 
    es