NEAR Protocol TVL Hits All-Time High at $242 Million

NEAR Protocol's total value locked (TVL) has hit an all-time high of $24.2 million (approximately KRW 336 billion). Over the past 48 hours, network fees also surged to $860,000 (around KRW 12 billion), according to AMBCrypto's analysis on April 19.

TVL represents the total assets locked in decentralized finance (DeFi) services and other protocols. NEAR's price has risen over 10% in the last two days, surpassing resistance levels between $3.2 and $3.4, with a short-term high reaching $3.9. The price is trading above key moving averages, indicating a potential short-term bullish trend, though this technical indicator does not confirm long-term direction.

Network activity has also increased alongside the TVL growth. AMBCrypto noted that the rise in both TVL and network fees suggests growing capital inflow and ecosystem activity. However, the analysis cautioned that these metrics alone cannot determine whether the price rally will continue.

The record coincided with NEAR Protocol's expected air-drop milestone, which was achieved after meeting key conditions on April 19. Two days prior, TVL surpassed $70 million, followed by a price increase above $3.3. Earlier coverage noted that the previous TVL milestone of $70 million triggered the first reward snapshot, though this figure differs from the current total network TVL due to different calculation methodologies.

AMBCrypto highlighted that while rising TVL and fees indicate increased capital inflow and usage, actual price movements depend on trading flows and profit-taking. The analysis suggested that whether buying pressure supports continued growth or if profit-taking leads to consolidation or a test of support levels will determine NEAR's near-term trajectory.

Long-term on-chain metrics suggest potential for sustained growth, but short-term corrections remain possible. The key indicators currently are the all-time high in TVL and rising network fees, with further confirmation needed from subsequent TVL trends, trading volume, and profit-taking levels.