NEAR Q3 Market Cap Dive: Exploring The 27% Plummet And Key Financial Metrics

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NEAR Q3 Market Cap Dive: Exploring The 27% Plummet And Key Financial Metrics - NewsBTC

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However, over the past three weeks, it has gained 54% in terms of market capitalization, rising to $7.99 billion amid the broader market rally led by Bitcoin (BTC) and the catalyst that was Donald Trump’s election. Related Reading: Ethereum Price On The Verge Of Repeating 2017-2021 Cycle Breakout, Target Above $20,000 One of the notable aspects of NEAR’s Q3 performance was its revenue, which measures network transaction fees while excluding storage staking.

Similarly, the number of weekly active ecosystem developers fell by 19.70%, from 286 to 230. In terms of decentralized finance (DeFi), NEAR’s Total Value Locked (TVL) recorded a modest increase, ending Q3 at approximately $251.44 million, which is a 7.63% rise from the previous quarter. Related Reading: Storm Ahead?

The protocol’s circulating market cap fell to approximately $5.16 billion, reflecting a significant quarter-over-quarter (QoQ) decrease of about 27.52%. NEAR’s token price also retraced slightly, closing the quarter at around $5.29, a marginal decline of 0.21% QoQ.