Messari released the NEAR report for the second quarter of 2023. Among them, in the second quarter, NEAR’s TVL was US$60 million, a 39% decrease from the previous quarter, mainly due to the withdrawal of Alameda’s liquidity and the liquidation of DeFi in early April. Both the circulating market value and revenue of NEAR have declined, and the circulating market value is 1.25 billion US dollars, a decrease of 25% month-on-month. NEAR adopts a transaction fee destruction mechanism, destroying 70% of the total fee, and the remaining 30% is allocated to the contract that initiated the transaction. In Q2, NEAR revenue (measured as total gas spent) was $98,000. At the end of Q2, the NEAR Foundation’s financial total was $900 million, including $349 million in fiat currency reserves, 315 million NEAR ($435 million, closing at $1.38), and $90 million in loans and investments. As NEAR prices fell from $1.99 to $1.38, total Treasury holdings fell by $200 million in the quarter, with vaults managed using a risk-minimizing approach, utilizing higher-rated Swiss bank accounts and maintaining limited exposure to non-NEAR assets exposure. In the second quarter, the NEAR network maintained a stable daily active account level, with an average daily active account number of 58,000, a 4-fold increase year-on-year; the number of new accounts decreased in the second quarter, down 19% quarter-on-quarter. Transaction activity within the NEAR network remained stable quarter-over-quarter in Q2. The network processed an average of 358,000 transactions per day, down 9% from the previous quarter. Transaction fees remain below $0.01.