NEAR Nears $190M TVL Milestone Amid Price Rally
Near Protocol (NEAR) is approaching a significant milestone in its decentralized finance (DeFi) ecosystem, with total value locked (TVL) nearing $190 million. According to DeFiLlama data, NEAR's TVL currently stands at approximately $187.25 million, just $2.75 million shy of the target.
The recent price rally has coincided with increased activity in the NEAR ecosystem, with 52,391 active addresses and a 24-hour decentralized exchange volume of around $84.19 million. The market value of stablecoins is roughly $79.86 million, while app revenue over a 24-hour period was $64,657.
However, experts warn that the timing of this rally is crucial, as NEAR has experienced a significant repricing in recent weeks. After breaking out from the $2.30-$2.50 range, NEAR is currently trading at around $3.60, having momentarily reached its highest level on the displayed chart at roughly $3.90.
Despite this momentum, short-term overheating is evident, with sellers emerging following the quick advance. The Relative Strength Index (RSI) has also reached elevated territory, indicating potential volatility or consolidation in the near future. Major support levels are located between $3.40 and $3.50, while bulls must reclaim the $3.80-$3.90 range before challenging the psychological $4.00 level.