NEAR Protocol

Wormhole

Crowny

Gauntlet

Time

<ul>
 <li>NEAR Protocol daily active addresses hit an all-time high, growing by 42% in Q2 2024.</li>
 <li>TokenBridge launches, connecting NEAR Protocol and Solana, enhancing blockchain interoperability.</li>
</ul>
In Q2 2024, the NEAR Protocol showed a huge 42.0% growth in average daily active addresses, setting an all-time high. This milestone reflects the increased interest and engagement in the NEAR environment. The number of active addresses on this network has been steadily increasing since last year.
<figure style="width: 100%" class="wp-caption aligncenter"><img fetchpriority="high" decoding="async" class="size-medium" src="https://pbs.twimg.com/media/GTawFfJX0AAils8?format=jpg&amp;name=900x900" width="900" height="508">
 <figcaption class="wp-caption-text">
 Source: Satoshi Club <a href="https://x.com/esatoshiclub/status/1818240371086020826" rel="noopener noreferrer nofollow">on</a> X
 </figcaption>
</figure>
<h2 id="strong-near-protocol-record-breaking-growth-and-tokenbridge-launch-strong">Near Protocol Record-Breaking Growth and TokenBridge Launch&nbsp;&nbsp;</h2>
According to <a href="https://www.theblock.co/data/scaling-solutions/non-evm-chains-stats/number-of-new-addresses-on-near-daily-7dma" rel="noopener noreferrer nofollow">The Block</a>, the on-chain metric increased from 57.13 thousand at the end of July 2023 to a record-breaking 1.97 million, representing a staggering 3,348.28% rise.
<figure id="attachment_774140" aria-describedby="caption-attachment-774140" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-774140 size-full" src="https://www.crypto-news-flash.com/wp-content/uploads/2024/07/nnear.png" alt="" width="1697" height="615" srcset="https://www.crypto-news-flash.com/wp-content/uploads/2024/07/nnear.png 1697w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/nnear-300x109.png 300w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/nnear-1200x435.png 1200w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/nnear-768x278.png 768w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/nnear-1536x557.png 1536w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/nnear-150x54.png 150w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/nnear-450x163.png 450w" sizes="(max-width: 1697px) 100vw, 1697px">
 <figcaption id="caption-attachment-774140" class="wp-caption-text">
 Source: The Block
 </figcaption>
</figure>
In addition to its tremendous expansion, TokenBridge has <a href="https://www.theblock.co/data/scaling-solutions/non-evm-chains-stats/number-of-new-addresses-on-near-daily-7dma" rel="noopener noreferrer nofollow">announced</a> the official launch of its bridge. Crowny built this bridge, which uses Wormhole technology to connect two leading Layer 1 blockchains, the NEAR Protocol and <a style="color: #008000;" href="https://www.crypto-news-flash.com/secs-latest-update-solana-and-cardano-no-longer-classified-as-securities/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are proud to announce the official launch of TokenBridge! This bridge is built by <a href="https://twitter.com/crownyio?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@crownyio</a> and leverages <a href="https://twitter.com/wormhole?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@wormhole</a> to unite leading L1s <a href="https://twitter.com/NEARProtocol?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@NEARProtocol</a> &amp; <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Solana</a>.
 Take a look at the bridge yourself <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/9u1hm4i7EQ" rel="noopener noreferrer nofollow">https://t.co/9u1hm4i7EQ</a> <a href="https://t.co/3BIqjUcuFF" rel="noopener noreferrer nofollow">pic.twitter.com/3BIqjUcuFF</a>
 — TokenBridge.app <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f501.png" alt="🔁" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@TokenBridgeApp) <a href="https://twitter.com/TokenBridgeApp/status/1816502623660347630?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 25, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The integration intends to improve the interoperability of different networks, resulting in a more connected and efficient blockchain ecosystem.
Previously, as <a style="color: #008000;" href="https://www.crypto-news-flash.com/near-soars-after-unveiling-decentralized-governance-model/" rel="noopener noreferrer nofollow">reported</a> by CNF, NEAR Protocol cooperated with Gauntlet to announce a new governance plan, which caused a jump in the price of its native token, NEAR. This proposal seeks to replace the standard one-person, one-vote system with a weighted voting mechanism.
The new governance model aims to better reflect each participant’s stake in the network, potentially resulting in more balanced and representative decision-making procedures.
Furthermore, we <a style="color: #008000;" href="https://www.crypto-news-flash.com/near-protocol-hits-milestone-450m-transactions-and-12-3m-addresses/" rel="noopener noreferrer nofollow">mentioned</a> earlier this month that the protocol had reached a key milestone, with 450 million transactions and 12.3 million new addresses added in a 30-day period. These results demonstrate NEAR Protocol’s quick expansion and adoption in the blockchain ecosystem.
At the time of writing, NEAR is trading at $5.17, down 3.19% over the last 24 hours. This loss has had a comparable impact on its market value, which has decreased by 3.19% to $5.72 billion. Despite this short-term fall, the NEAR Protocol’s overall development and milestones signal a bright future for the network.
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NEAR Protocol Sees Record Growth in Active Addresses in Q2 2024, Time to Shine?

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