The Trust Layer for Market Analysts

The analysis focuses on NEAR Protocol, highlighting a significant drop in daily active addresses, down 90% from its peak, with the current number around 266.7K, down from approximately 3 million. This decline is attributed to the cessation of a contract with KaiKaiNow, which previously subsidized gas fees and boosted transactions. The speaker suggests that the reported activity was artificial, driven by these subsidies, and that the underlying user engagement is much lower. This is compared to a similar situation with Hedera. The implication is that the current valuation of NEAR may not be supported by organic user activity, suggesting a bearish outlook for the asset. The analysis implies that without these artificial boosts, the true utility and demand for the NEAR network are significantly diminished, leading to a potential price decline.