The NEAR protocol reveals new updates but will change course

The NEAR Protocol presents the first meeting of the Protocol Working Group to discuss the latest network improvement proposals. This group will contribute to the future of NEAR and will be active in its development.

Despite the launch of a new development-oriented group, NEAR still performed well over the past week. According to a new weekly newspaper, ModernizationNEAR completed 2.25 million transactions, with an average of 751,293 transactions.

The network also saw a sharp increase in the number of accounts as it jumped to 316,894 (+17%).

Meanwhile, the NEAR Daily published one tweet About the top winners of the record last week. REF continues to lead the chart as it posted a gain of 15.5% for the week.

It was followed by the token NEAR with 11.1%. The AURORA token completes the top three list with an increase of 10.3%. It’s important to note that NEAR has already had a promising week. Previously, according to LunarCrushThe NEAR token’s Alt ranking has fallen over the past week.

These updates leave the NEAR token at $4.14 with a slight decrease of 0.8% in the past 24 hours. However, it still has a gain of 7.75% from last week according to CoinMarketCap.

However, there has been a significant decrease in the total value of DeFi Locked (TVL) for NEAR over the past month.

According to DeFiLlama, NEAR’s TVL fell 10% within five days of its entry in August. $285.09 million in protocol has been booked at press time.

Ref Finance continued to control $228.8 million and an 80.28% stake in NEAR TVL.

Source: DeFiLlama

In addition, the network continues to show a bearish pattern for low trading volume. NEAR saw trading surge to $800 million in early April.

But downward forces continue to undermine its growth. Also, he didn’t manage to cross $500 million in more than two weeks.

Source: feeling

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