Near Protocol is a Public Proof-of-Stake (PoS) Blockchain

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• Aims to bring decentralization finance (DeFi) to the masses with low transfer fees and fast transactions.
• With their sharding technology (Nightshade) they achieve speed and scalability.
• Uses PoS consensus to secure and validate transactions on the blockchain.
• In Proof-of-Stake, users show support to specific network validators by delegating NEAR tokens to them. This process is known as staking. The main idea is that, if a validator has a large amount of tokens delegated is because the community trusts them, and these validators can validate block transactions and add more blocks to the Blockchain.
• Validators earn NEAR Token rewards for producing new blocks in the form of a static inflation rate of about 4.5% each year.
• Stakers get rewarded in the form of that token, too. The token’s all-time highest price was $20.44 in January 2022.

Sources: Coindesk, Near blog, The Defiant, Nightshade

🎉New Year, New Near🎉

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The Objective in this Dashboard is to show the performance of the past 6 weeks in the Near Blockchain. So the date range for my analysis will be the following:

First Week of December: From November 28, 2022 (Monday) Until December 4, 2022 (Sunday).

Second Week of December: From December 5, 2022 (Monday) Until December 11, 2022 (Sunday).

Third Week of December: From December 12, 2022 (Monday) Until December 18, 2022 (Sunday).

Christmas Fever Week: From December 19, 2022 (Monday) Until December 25, 2022 (Sunday).

Last Week of 2022: From December 26, 2022 (Monday) Until January 1, 2023 (Sunday).

First Week of 2023: From January 2, 2023 (Monday) Until January 8, 2023 (Sunday).

These are the date ranges for the week names i’ll used in some of my charts.

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📈Near Blockchain General Metrics📉

Methodology

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Using Flipside Crypto data tables, Block_timestamp is used in all charts by weekly aggregation, but using a case sometimes to name my weeks.

• Near.core.fact_transactions: Here i’ll get Transaction, User Activity and Transaction Fees using:
  • tx_hash: To get the Transactions by counting them.
    • tx_status: 'Succeeded’ for Successful Txs !='Succeeded’ for Failed Txs.
  • tx_signer: To get the Active Users, for Stickiness Ratio/New Users refer to my SQL to understand better my recipe to get these values.
• near.core.fact_transfers: To get the $NEAR Transfers using:
  • deposit: To get the $NEAR Volume, we need to apply a decimal correction of 24.
  • tx_receiver: To get the Receiver Users.
• near.core.dim_staking_actions: To get the Near Stake Activity using:
  • stake_amount: To get the $NEAR Staked Amount, we need to apply a decimal correction of 24.
  • tx_signer: To get the Stakers Users.
  • action: To know if the transaction is a Stake or Unstake.
• near.core.fact_actions_events_function_call: Here i’ll get the Contract Deployment
  • I modified a SQL from cypher to get the Contract Deployment and the Top Contracts.

Summary

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In General it’s seems that during the Holidays Season the activity in NEAR starts following a violent downtrend tendency since the first week of December.

• There are some exceptions such as the Transfer volume of $NEAR which have high values at the last week of 2022, or the Stake Volume which starts uptrending since the Christmas Fever Week.
• With the Near Price increasing in the First week of 2023, The amount of Unstaked $NEAR Reached their highest Value, and the Sales Volume of NFTs also reached their highest Value.

Top Applications:

• NearCrowd: As always the amount of times this contract is deployed is really high, so a lot of users are interacting daily and earning Near performing simple tasks.
• Sweat: The contract for their Token the SweatCoin is the most deployed in this season, being one of the most strong Applications in the Near Environment.
• Ref Finance: The Favorite DEX for swappers.
• Paras Marketplace: The Favorite Marketplace for NFT Traders.

Top Tokens:

• Sweat Token: Being the Contract with Most times Deployed the presence of this token in Near is strong.
• wNEAR: This token contract is also present in the top 15 contracts deployed.

🔎NFT Sales Activity Analysis🔍

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• It’s seems that NFT Activity is strongly only in the Paras Marketplace, Uniqart and Apollo42 have a few share of sales but more than 95% of the total activity is from Paras.
• NFT Sales Increased in the Christmas Fever Week being the 3rd week with most Sales, Sales Volume and Buyers+Sellers.
• But in the Last week of 2022 all the activity dropped.
• The first Week of 2023 presents the higher Sales Volume.

🔎General Metrics #1 Analysis🔍

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• The Price of $NEAR decreased before entering the Christmas Fever Week, and then after New Year the Price presents a daily uptrend.
• The amount of Failed Transactions seems to spike on differents days without a visible correlation.
• Christmas Fever Week Successful Transactions presents a downtrend in the Weekend, with Christmas (25) Having the least amount of Successful Transactions on that Week.
• After Christmas in the last week of 2022 happens the same, with New Year (01) Having the least amount of Successful Transactions on that Week.

🔎General Metrics #2 Analysis🔍

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• Transactions: The total amount seems to be between 1.8M - 2.76M per week.
  • Transactions during the Christmas Fever Week decreased, and after Christmas in the Last week of 2022 the transactions followed the downtrend again.
  • Weekly Transactions Follows a Downtrend since the First Week of December, the only exception is the Third Week of December, with an Uptrend.
• Unique Users: There are between 212k to 304k unique user per week.
  • During the Christmas Fever Week the amount of Active Users dropped by 50k following the weekly downtrend, after Christmas in the Last Week of 2022 the amount of Active users dropped by 14k continuing the weekly downtrend.
  • Active Users follows the same downtrend but this time since the Second Week of December.
• Transactions Fees: The amount of $NEAR ranges between 3,170 to 4,723 per week.
  • The Transaction Fees follows the same Downtrend as the Transactions.

Activity in Near is on a Downtrend Tendency in the last 6 weeks.

🔎General Metrics #3 Analysis🔍

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• Number Metrics: It’s seems that the Weekend of Christmas was less active in transactions and transfer volume but with more user activity than the weekend of New Year.
• It’s seems that the Daily Average Transactions correlates with the Average Fee per Transaction in most weeks.
  • But the last week of 2022 and the first week of 2023, the correlation breaks and both metrics present an inverse correlation.
• New Users/Existing Users: The amount of New users ranges between 57.224k-76.538k New Users per week and 168.966k-228.53k Existing (Old) Users per week,
  • The total and average number of new users, during the Christmas Fever Week is the lowest of all, but there are more Existing Users than the following 2 weeks.
  • But after Christmas in the last week of 2022, the amount of New users increased a bit.

It’s seems that During the Holidays Weeks The Amount of Users in Near Decreased Significantly.

🔎General Metrics Last Analysis🔍

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• Stickiness Ratio: It’s seems that 17.6% to 20% of the Total Active users per week make at least 1 transaction daily.
  • In the first Week of 2023, this ratio increased almost 3% with more people being active daily.
• Receivers of $NEAR: There are 100.025k - 156.822k different Users Receiving $NEAR.
  • During the Christmas Fever Week the amount of Recipients decreased, and after Christmas in the Last week of 2022 follows the same Downtrend tendency.
• $NEAR Volume: The $NEAR Transfer Volume in transactions ranges between 25.2M to 47.5M per week.
  • In the Christmas Fever Week the amount of $NEAR Volume decreased significantly, but after Christmas in the Last week of 2022 the Amount of $NEAR Volume increased a lot, reaching the second highest value with 46.1M.

The $NEAR Transfer Volume in the Second Week of December and Christmas Fever Week reached the lowest values.

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📈Contracts Deployment in Near📉

🔎Contract Deployment Analysis🔍

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• Contract Deployment: It’s seems that since the First Week of December, the amount of Unique Contracts being deployed follows a downtrend tendency, which is broked by the first week of 2023.
  • More New Contracts were deployed in the Third Week of December and the Christmas Fever Week.
• Top 15 Contracts: The times a Contract is deployed follows a significant downtrend tendency since the First Week of December, with the only exception at the Third Week of December.
  • Sweat Token Contract Address is the favorite Application for the Citizens of Near.
  • NearCrowd Contract Address still mantain their reign as being one of the Top Contracts for the Citizens, the same for the Aurora Contract Address which is one of the top contracts.

It’s seems that Citizens like to interact with Apps that rewards users doing simple tasks such as Nearcrowd or Sweat.

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📈Stake Activity in Near📉

🔎Stake Activity Analysis🔍

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• Stake Transactions: The amount of transaction activity seems to be in a downtrend again with the Third Week of December being the one exception again.
  • In the Christmas fever week the transactions Decreased reaching 4852 Transactions, and after Christmas in the last week of 2022 this amount decreased again reaching 3370 Transactions.
• Stake Users: The amount of Users presents the same trend as transactions, with a similar ratio.
  • In the Christmas fever week the users staking Decreased by 269 users, and after Christmas in the last week of 2022 the amount of users decreased by 475 a bigger amount.
• Staked $NEAR: The Staked $NEAR follows the same trend in the firsts weeks but after Christmas the Amount starts Uptrending.
  • Most of the $NEAR volume comes from Stakes, so people were staking since the Third Week of December to farm Rewards in the New Year/Month and then proceeded to Unstake.
  • After Christmas in the last week of 2022, the $NEAR Staked reached a big spike, with the second highest value of 9.7M of $NEAR Staked.
  • The Amount of $NEAR Staked was always higher than the $NEAR Unstaked but in the first week of 2023 The Amount of $NEAR Unstaked reached their highest Spike.
• Number Metrics:
  • The amount of $NEAR Volume in Stake transactions was really low during Christmas weekend.
    • The $NEAR Unstaked Volume was higher in this Weekend.
  • The amount of $NEAR Staked Volume in New Year Weekend is really high in comparison with Christmas.
    • The $NEAR Unstaked Volume is really low.

The Users staking decreased and thus the stake transactions, but the flow of $NEAR Volume in stake was really high in the last 2 weeks.

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📈NFT Sales Activity in Near📉