Introduction and methods

NEAR Protocol is a proof-of-stake public blockchain with smart contract capability that aims to act as a community-managed cloud computing platform. In this dashboard we are gonna track the active users on the platform in order to see who would the citizens be if NEAR were a city.

To be able to track the active users on NEAR protocol, I have defined an active user as a user who haev transacted at least once in the past 30 days. once defined, I have computed the number of daily active users over the past 90 days. Finally, I have computed as well the daily number of new users in order to see similarities or correlation about these metrics and then, to be able to track some interesting points where NEAR become more popular.

In the first graph we have analyzed the evolution of Near's daily active users from the beginning of April to July. We can see that there is a downward trend and has been during all these months, although it is not a very heavy trend. During these months, there have been some peaks that have stood out. One of the most important was on April 20, which coincided with the launch of the Near Protocol stable coin USN. It reached 25k daily active users. 

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The second graph shows the evolution of the number of new users per day in Near. We can clearly see that there is a very similar trend to the daily active users. It has a slightly downward trend, although it has also had different peaks. One of them was also at the end of April, with the launch of the NearProtocol stable coin. At the beginning of April was the longest peak, reaching 9k daily active users.  \n

In the last graph, after analyzing the new and active daily users of Near Protocol, we can see that there is a strong positive correlation between these two aspects. If there are many new users entering, there are more daily active users. 

Conclusions and insights

In this dashboard it has been analyzed the active users on NEAR protocol over the past 90 months and has been compared as well with the amount of new users.

The key insights extracted from the analysis have been the following:

• There is a downward trend regarding the number of active users.

• The major peak in terms of active users was registered on on April 20, which coincided with the launch of the Near Protocol stable coin USN.

• The evolution of daily new users has a very similar trend to the daily active users.

• There is a strong positive correlation between these two aforementioned metrics. If there are many new users entering, there are more daily active users. 

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