According to Cointelegraph, at the end of quarter 2 of 2023, Near Protocol’s (NEAR), a layer-one blockchain, revenues saw a fall of about $900 million. It is expected that this took place due to a fall in the price of NEAR tokens from $1.99 to $1.38 per piece.
With insights from a report made on July 10, 2023, the Near Treasury currently has about $349 million in fiat, 315 million NEAR, and $90 million in loans and investments. Supposedly, a total of about $16 million and 1 million NEAR were added in quarter 2(Q2), Cointelegraph added.
Furthermore, “The NEAR Foundation has continued to adopt a highly responsible approach to treasury management in order to minimize the risk of loss in a turbulent market, while continuing capital deployment to fulfill its mission. Exposure to non-NEAR assets, therefore, has been limited, with fiat reserves held in highly rated Swiss bank accounts,” the developers told Cointelegraph.
(With insights from Cointelegraph)