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NEAR Protocol will present a new Protocol Development Team meeting to discuss the latest advanced proposals for the network. This group will contribute to the future of NEAR and will be active in protocol development activities.
🧭 NEP Working Groups 🧭
The first Protocol Working Group meeting is coming up ✨! Please join us to discuss a new @NEARProtocol enhancement proposal 😉
📅 Date: Tuesday, Sep 6, 4pm UTC
🗒️ Topic: NEP-364
🗣️ RSVP: https://t.co/Wa0W3WjxyV pic.twitter.com/u4S3gBwntb
— Pagoda (@PagodaPlatform) September 2, 2022
Despite the launch of the new Development Team, NEAR has performed quite well over the past week. According to a recent weekly update, NEAR has completed 2.25 million transactions with an average of 751,293 transactions per day.
The network also saw a sharp increase in the number of accounts as they increased to 316,894 (+17%).
Meanwhile, NEAR Daily posted a tweet about the top gainers on the protocol over the past week. REF continued to lead the rankings, recording a 15.5% increase for the week.
It was followed by the NEAR token with 11.1%. AURORA token rose 10.3%. It’s important to note that NEAR has had a promising week. Previously, according to LunarCrush, on the chart, the NEAR token fell in the previous week.
These updates leave the NEAR token at $4.14 with a slight decline of 0.8% over the past 24 hours. However, it still holds a 7.75% increase from the previous week, according to CoinMarketCap.
However, there has been a significant drop in the total value of NEAR DeFi locked down (TVL) over the past month.
According to DeFiLlama, NEAR TVL is down 10% within five days of entering August. The protocol was locked at $285.09 million at the time of writing. Ref Finance continues to dominate with $228.8 million and accounts for 80.28% of NEAR TVL.
Moreover, the network is continuing to show a bearish pattern with low trading volumes. NEAR had transaction volumes soar as high as $800 million in early April.
But the bears continue to undermine its development. Moreover, it has not been able to cross the $500 million mark for more than two weeks.
