Near Protocol recently reached 3 million daily active users, securing second place among all L1 blockchains.
According to market analyst Lennaert Snyder, this achievement suggests accelerated adoption for Near Protocol.
“NEAR has just surpassed Solana in daily active users… By reaching 3,000,000 daily active users, NEAR Protocol is now ranked 2nd among all L1s,” Snyder wrote.
Although the user growth alone is remarkable, technical analysts believe that the price chart may be hinting at an even greater movement ahead. Some traders point to a clean double bottom pattern above significant support. Analysts associate this technical formation or chart pattern with the accumulation of smart money in cryptocurrency trading.
Drawing parallels with the Wyckoff Strategy, the analyst suggested that if NEAR follows the historical playbook, the next phase could be a pronounced upward movement.
Meanwhile, the bullish case goes beyond chart patterns. Some traders view NEAR as a fundamentally undervalued play compared to other top-level blockchains.
Analyst Santolita described it as one of the best asymmetric bets at the moment, citing multiple catalysts over the next two years.
“By 2026, the chart is loaded with growth catalysts, AI integration, institutional adoption, bridge expansions, and a protocol upgrade,” Santolita noted.
Santolita projects that the price of Near Protocol will reach $10.82. With the NEAR token trading at $2.61 at the time of writing, the target estimate would constitute a 315% increase over current levels.