Try Quests to earn NEARNEAR - 6. NEAR Foundation Transparency Report: Q3, 2022
ANALYSIS
From the bar graph we can depict that there is a downward trend in the new user count on NEAR PLATFORM We can see 15.252k new user on 12th of DECEMBER, WHICH IS THE MAXIMUM IN LAST 30 DAYS .On December 27 also there is a spike with 11.065k new users . New user count remains consistent in past 30 days, around 8k which proves users are still getting attracted even after new year, although at a very slow pace, this count is comparative to avg new user count for last 30 days & avg new user in 2023 We have observed average new user count for 3 different time periods. we can state the average user count is also showing a downfall. AVERAGE NEW USES IN NEW YEAR ARE 7.57K AVERAGE NEW USERS SINCE BEGINING ARE 10.92K. .AVERAGE NEW USERS IN LAST 30 DAYS are 8.81k. New near user count for past 30 days are 259K
Totally, we can see a very slow increasing trend in the number of new users joining NEAR protocol during the past 30 days.
ANALYSIS
ft_transfer action is the most popular method for newly joined users in terms of the number of transactions. The main action on the NEAR protocol is the FUNCTION CALL with majority share , greater than 95% of total successful transaction count. FUNCTION CALL & TRANSFER success transaction can be greater than 98% of total successful transaction count .
DeleteAccount and DeployContract actions have a high fail rate. In the failure count proportion FunctionCall has gained supremity.
Fail rate is high for DELETE ACCOUNT . DEPLOY CONTRACTS stands at second place followed by DEPLOY CONTRACTS.
Number Successful transaction per minute is 118.
.
ANALYSIS
Total transaction count on NEAR platform seems to be falling .Only on DECEMBER 16 there is a spike with 454.467k transaction in a single day , being highest in last 30 days .On DECEMBER 19 & 22 also there were satisfactory amount of transaction After that during CHRISTMAS & NEW YEAR there is a very gradual downfall n the transaction count . after NEW YEAR , there is again a rise in transaction count .
Maximum successful transaction was recorded on 12th DECEMBER .After that there were no such ups & downs worth mentioning . Failure rate was high on 16th & 22nd DECEMBER . ON NEW YEAR also failure rate was high for transaction count . From NEW YEAR onwards we can see success rate of transaction has increased and is in a developing stage .Percentages of successful transactions has a steady trend towards 2023 which was maximum on December 25th 2022 with 95.2754% of successful transactions and percentages of failed transactions has fluctuated trend which was maximum out on December 16th 2022 with 25.4412% of failed transactions.
ANALYSIS
IN PAST 30 DAYS, 259K unique users have performed their first transaction on NEAR platform. There were high spikes on 8th and 12th December, showing the most number of users have joined NEAR network . ft_transfer action is the most popular method for newly joined users in terms of transactions count.
.
ANALYSIS
From the above graph & stats we can state that is not a very promising situation for NEAR ECOSYSTEM .We can see a downward trend in the daily gas fees paid on NEAR platform. MAXIMUM GAS FEES was paid on 16th of DECEMBER 2022 with 7.48M GAS amount it remained consistent with 5.5 M to 6.5 M amount on maximum days. even AVERAGE GAS FEES paid since start & AVERAGE GAS FEES paid for past 30 days, was higher than this amount .We can see spikes only on three days, namely, 12th, 16th & 22nd DECEMBER. .On these days GAS FEES crossed 7M which was higher than the MAXIMUM GAS FEES paid in 2023. AVERAGE GAS FEES since start was higher than this amount. In NEW YEAR HIGHEST GAS FEES WAS ON 9TH JANUARY giving hopes for better future of NEAR.
We have compared the gas fees paid in three different time frames :- ‘SINCE START ‘, ‘PAST 30 DAYS’ & ‘IN NEW YEAR 2023’. While analysing we can observe the bearish trend .
ANALYSIS
We can see a fall in the daily gas on NEAR platform. Maximum Fees was paid on 16th DECEMBER ,around 730M . It remained stable on maximum days with around 555M to 650M. when compared to other stats ,this amount is lower than average fees since start & is more or less equal to average fees in NEW YEAR & average fees for past 30 days. Spikes are seen on three days only , 12th , 13th & 16th DECEMBER ,with 700M which is higher than maximum amount of fees paid in NEW YEAR 2023 & is lower than average fees amount since start.
We have analysed the fees in three different time frames :- SINCE START , PAST 30 DAYS , IN NEW YEAR 2023. & BY OBSERVING THEM WE CAN SAY CONDITION OF NEAR ECOSYSTEM IS NOT GOOD .
METHOD
In this dashboard, we will be analysing metrics that could enhance the Transparency Report for NEAR.
NEAR GENERAL STATS
NEAR PRICE
NEW USERS & THEIR ACTIONS
NEAR TOKEN DISTRIBUTION
NEAR STAKING/UNSTAKING
NEAR GAS & FEES
We will be using the following databases in this dashboard:
> near.core.fact_transactions
>
> near.core.fact_transfers
>
> near.core.dim_staking_actions
>
> near.core.fact_prices table
>
> near.core.dim_staking_action
>
> snear.core.ez_dex_swaps table.
>
> We have analysed all data’s for past 30 days & in some special cases ,we have divided the time frame into three categories :- Since start , For past 30 days & In the new year 2023 for better understanding
NEAR
The NEAR protocol is a sharded, proof-of-stake, layer-one blockchain that is simple to use, secure and scalable. NEAR Protocol is a decentralized application (dApp) platform and Ethereum competitor that focuses on developer and user-friendliness. Its native NEAR tokens are used to pay for transaction fees and storage on the Near crypto platform.
ANALYSIS
The above graph represents the avg price of NEAR in USD since OCTOBER 2021 & FOR PAST 30 DAYS. In OCTOBER the trend was bullish ,but at slow pace.It became low in DECEMBER 2021. Price was highest , $19.48 , on 15th JANUARY 2022 it started falling till MARCH & in APRIL we can again see BULLISH TRENDS which started declining till year end. Price is very low currently ,1.6$ , when compared to its highest price.
When we analyse the graph for last 30 days the price has again started rising high showing potential for further growth .Price was highest on JANUARY 9 2023, 1.67$.
ANALYSIS
When we analyze the STAKING & UNSTAKING actions for past 30 days we see a bullish trend .We can see staking is more than unstaking proving that users still have faith on NEAR ecosystem. They are still ready to take risks . Almost 80% of all transactions are related to stakes and the rest are related to Unstakes. Stake amount was high on end of the year 2022 & also in NEW YEAR 2023. Unstake amount was also high in the beginning of the NEW YEAR 2023 .Users are willing to participate in the security and improvement of the network.
==CONCLUSION==
After analysing all the data’s , we can say that the trend of NEAR has a downward trend with a gradual decrease in all data’s in DECEMBER 2022 with a very few spikes on some days . In 2023 the data’s are improving giving hopes to the users for improvement of the health of NEAR ECOSYSTEM as users are willing to stake their amount which proves users have not lost their interest from this platform . LET US JUST PRAY FOR THE BETTERMENT OF NEAR HEALTH.
