Near Foundation treasury drops to $900M as token price plunges

At the end of Q2 2023, layer-one blockchain Near Protocol’s (NEAR) treasury had declined to $900 million, led by a fall in the price of NEAR tokens from $1.99 to $1.38 apiece.

According to the July 10 report, the Near Treasury currently consists of $349 million in fiat, 315 million NEAR, and $90 million in loans and investments. A net total of $16 million and 1 million NEAR were distributed to the ecosystem in Q2. In comparison, the Near Treasury totaled $1.1 billion in Q1 2023. Developers wrote:

1. Enhancement of its blockchain operating system
2. Continued building of its decentralized ecosystem
3. Onboard Web2 users to Web3

Near Protocol’s treasury summary in Q2 2023.

Source