Nearby protocols (nearby) are surgent past Solana with daily active users, with milestones putting Layer-1 (L1) blockchain in the spotlight.
The nearest price has dropped by more than 5% in the last 24 hours, but analysts say it could be undervalued.
Why is a near-protocol surge possible the most protected secret on the market?
The close protocol recently reached 3 million active users every day, securing two spots among all L1 blockchains.
According to market analyst Lennaert Snyder, the outcome suggests that it will accelerate adoption of nearby protocols.
“I’ve just turned my daily active Solana upside down. By hitting 3,000,000 active users every day, the nearby protocol ranks second among all L1s,” writes Snyder.
While user growth alone is noteworthy, technical analysts believe the price chart could be suggesting even greater movement.
Some traders refer to a double bottom pattern that is cleaner than the main support. Analysts have linked this technology formation or chart pattern to the accumulation of smart money in crypto transactions.
Analysts have similarities to the Wyckoff strategy, suggesting that the next stage could be a sudden move if followed by a historic playbook nearby.
Meanwhile, bullish cases go beyond the chart pattern. Some traders are seen close up as a fundamentally underrated play compared to other top tier blockchains.
Analyst Santorita cited multiple catalysts over the next two years, explaining it is one of the most asymmetrical bets at the moment.
“From here until 2026, the chart will feature growth catalysts, AI integration, institutional adoption, bridge expansion and protocol upgrades,” Santorita said.
Santolita is forecasting a protocol price near as it reaches $10.82. As of this writing, target estimates account for 315% above current levels, as they are close to $2.61 token transactions.
Nearby protocol rising buzz: breakout signal or just market noise?
These factors also seem to resonate with retail sentiment. Kyren, a researcher at Defi and Crypto Podcaster, emphasized that he is heading closer with Google’s trends.
“Google’s trends are nearby (it’s rising sharply), and I feel like my next leg is approaching,” he said.
Google trend metrics are often correlated with increased investor curiosity and new influx.
Recent performances and ecosystem developments nearby indicate narrative changes. Continuous network upgrades and agency partnerships could help solidify Solana’s position as more than a competitor. Such a move could become a market leader in user engagement and transaction throughput.
Still, technical setup alone does not guarantee meetings in the broader crypto market, which are sensitive to macroeconomic conditions.
Analysts should note that while Wyckoff’s accumulation stage often precedes major movements, external factors such as liquidity flows and regulatory developments determine how close they can run.
Posts near the protocol flip Solana: Why it can be underrated near the token first in Beincrypto.
