NEAR Protocol has set a new record for Total Value Locked (TVL), reaching $242 million. This event occurred against the backdrop of a general rise in the cryptocurrency market, where NEAR increased by more than 10%. As a result, the token surpassed its resistance zone between $3.2 and $3.4, reaching a new local maximum of $3.9.
According to the latest metrics, in the last 48 hours, fees from the NEAR network have risen to $860,000, confirming the activation of trading activity and the influx of new capital into the NEAR ecosystem. The data indicates that the growth of investments and fees in the network may signal increasing interest in the protocol. Notably, this increase could confirm that more capital is flowing into the NEAR ecosystem.
It is worth noting that on September 19, a significant event occurred – a key milestone was reached on the way to the anticipated drop of new tokens. Two days prior, the TVL surpassed the $70 million mark, and the subsequent price increase of the token raised its value above $3.3. NEAR's ability to maintain its current momentum will depend on support from buyers following the recent 10% increase. Sustained growth alongside increasing TVL and network fees will help maintain a bullish structure and may lead to higher price levels. However, market participants may start to take profits, which could cause NEAR to consolidate and test nearby support levels.
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