Near Protocol TVL Surges Past $300M Amid Ondo Partnership

The Near Protocol has seen a significant surge in its Total Value Locked (TVL), reaching $350 million and above on Wednesday this week, up from about $191 million last week. This marks a parabolic increase since September 16.

The recent spike in activity is attributed to the network's partnership with Ondo Finance, which was announced on Tuesday. The collaboration aims to bring tokenized stocks and ETFs into the Near ecosystem.

A notable observation from this surge is that confidential intents surpassed public intents in terms of TVL. This suggests that privacy is taking center stage in Near Protocol transactions, a trend gaining popularity this year.

The NEAR crypto price has also seen an impressive rally, increasing by 110% in less than 10 days to reach $4.8 on September 23. However, it retreated to $4.26 at press time and is considered extremely overbought.