Revolutionize Your Finances: Unleash Explosive Gains with NEAR Protocol’s Breakthrough DeFi Solution
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NEAR Protocol DeFi Soars 150% – What’s Next for Its Price?
NEAR Protocol recorded significant growth in its decentralized finance (DeFi) sector, with a whopping 156% increase in DeFi TVL (total locked value). The impressive surge is attributed to the broader bullish market sentiment that followed the U.S. elections in November. By the end of Q3 2024, NEAR’s DeFi TVL had skyrocketed from below $100 million to over $240 million, indicating increased investor interest and confidence.
However, it is essential to note that NEAR’s price performance was not as straightforward. In the first half of 2024, its value jumped by a staggering 160%. Unfortunately, this momentum was short-lived, as the market witnessed a correction, leading to a 60% dump in NEAR’s price. The token then bounced back post-U.S. elections, with a gain of 72%. However, this recovery was short-lived, and NEAR’s value once again plummeted to its yearly low at $3.
As we move into the first quarter of 2025 (Q1), speculation is rife regarding what can be expected for NEAR’s price movement. One aspect that might have an impact on the token’s performance is the recent AI-centric chain losses, attributed to the debut of OpenAI’s competitor and relatively low-cost Chinese AI chatbot DeepSeek. As an AI-centric chain, NEAR’s price has been heavily correlated with daily active addresses and DEX (Decentralized Exchange) volume metrics.
Historically, these metrics have spiked during rallies but dropped sharply during drawdowns. In the past, NEAR’s price movement closely followed this trend. The decline in daily active addresses and DEX volumes during the recent downturn might lead to a muted recovery for NEA
Source: ambcrypto.com
