NEAR Protocol Slips to $3.70, but the TVL Drop Is Mostly a Price Effect

NEAR Protocol fell to $3.70 on Thursday, November 5, 2026, or roughly €3.30. That is 7.6 percent less than 24 hours earlier and the lowest daily close since September 20. At the same time, the value locked in applications on the NEAR blockchain has shrunk to $173.6 million. What the data shows: converted into NEAR tokens, that value has stayed almost unchanged at around 47 million tokens since mid-October. The decline in dollar terms is therefore almost entirely down to the lower price and hardly at all to capital being withdrawn. Our assessment follows further down.