NEAR Protocol Faces Significant Decline as TVL Drops to $100 Million

NEAR Protocol has experienced a substantial valuation decline, with its price currently trading 15 times lower than its all-time high. The protocol's market capitalization has shrunk to $1.4 billion, reflecting a broader loss of momentum within its ecosystem. Crucially, the Total Value Locked (TVL) on the network has contracted to $100 million, signaling a decrease in decentralized finance activity. While the NEARCON 2026 conference introduced several structural updates aimed at revitalizing the platform, investor sentiment remains cautious. Market participants are currently awaiting a tangible increase in actual on-chain usage before committing further capital. The NEAR Foundation faces the challenge of restoring confidence through these structural changes amidst difficult market conditions.