NEAR Protocol shows strong development momentum in 2025, especially in the fields of AI and blockchain integration, sharding technology, chain abstraction, and DeFi. There are diverse ecological projects, complete developer support, and active community activities. @NEARProtocol @The NEARProtocol Herfindahl index is used to measure the share of network addresses in the current supply, known as chip concentration. A high index indicates that a small number of large holders are dominating the market, while a low index indicates a more even distribution of chips. As shown in the picture. When TOKEN was first issued, early holders often concentrated a large amount of supply and had high control over the market, resulting in a higher Herfindahl index. As these early holders sold off, the index began to decline, reflecting a gradual shift in token distribution from concentration to dispersion. More concentrated chips may not necessarily lead to a pullback, but they are more conducive to controlling the market and can amplify volatility. At present, the concentration of @ NEARProtocol chips has experienced a decline, with a slight increase after a stable trend, but it is not significant. Interested parties can continue to follow. Especially pay attention to the overall market sentiment. For reference and learning. Thank you