#near Near Protocol (NEAR): A Sleeping Giant?

According to data from Artemis.xyz, Near Protocol has far outperformed the market across various network metrics, but will likely look to further grow its DeFi ecosystem.

DeFi on Near Protocol

Less encouraging are figures surrounding the protocol’s total value locked (TVL).

At time of writing, Near’s TVL sits at around $34 million, having fallen approximately $440 million since its all-time highs in May of last year.

Near’s current figure places it below even the likes of Sui and Aptos, at $50 million and $44 million respectively - both of which launched more than two years after Near, and in far harsher market conditions.

Within the Near Protocol DeFi ecosystem itself, nearly half of its TVL is delivered by LiNEAR Protocol - a protocol providing liquid staking solutions to the NEAR ecosystem, in tandem with its proof-of-stake consensus mechanism.