NEAR token drops 7% after token issuance reduction proposal passes
A proposal to cut NEAR token issuance has been approved, impacting tokenomics and staking rewards.
A proposal to cut NEAR token issuance has been approved, impacting tokenomics and staking rewards. NEAR Protocol (NEAR) is trading at ₹368 ($3.88), up 1.3% since this brief published. This is an original Token Times brief synthesising 2 outlets (Cointelegraph, CryptoPotato), with their figures cross-checked, plus live market data, as of Tue, 03 Nov 2026 22:00:01 UTC.
The issuance cut could significantly alter NEAR's tokenomics by reducing future supply and impacting staking dynamics, affecting both investors and network participants.
- NEAR token drops 7% after issuance reduction proposal passes.
- Proposal aims to reduce supply by 11.8M NEAR over two years.
- Staking rewards expected to decrease with reduced issuance.
- NEAR TVL down 13.9% over the past week.
Both Cointelegraph and CryptoPotato report that the NEAR token dropped 7% following the approval of a proposal to reduce token issuance by 11.8 million NEAR over two years, valued at approximately $45 million at current prices. CryptoPotato further specifies that this change could shrink NEAR's projected supply by 4.36% over six years and will likely result in reduced staking rewards. No outlets contradict these figures or details.
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- NEAR token drops 7% after token issuance reduction proposal passes — this brief
The NEAR token has experienced a 7% decline after a proposal to reduce its token issuance was approved. This proposal aims to prevent 11.8 million NEAR from entering circulation over the next two years, which is currently valued at about $45 million based on the token's price of $3.83.
According to CryptoPotato, this change is part of a broader overhaul of NEAR's tokenomics that could reduce the token's projected supply by 4.36% over six years. The reduction in issuance is expected to have implications for staking rewards, which are likely to decrease as a result.
The proposal's passage has been corroborated by multiple outlets, with both Cointelegraph and CryptoPotato reporting the 7% price drop and the specifics of the 11.8 million NEAR reduction. However, CryptoPotato provides additional context on the potential long-term impact on supply and staking dynamics.
This development comes at a time when the total crypto market cap stands at $2.68 trillion, with 
Bitcoin showing a 24-hour increase of 1.36%. The Fear & Greed Index remains at 26, indicating a 'Fear' sentiment in the market.
NEAR Protocol's Total Value Locked (TVL) has also seen a decline, currently at $112.19 million, representing a 13.9% drop over the past week, according to DeFiLlama. This suggests that the broader NEAR ecosystem may be experiencing some turbulence.
Since this brief published about 10 hours ago, NEAR Protocol (NEAR) has moved from ₹363.58$3.83 to ₹368.32$3.88 — +1.31%.
The chart plots NEAR's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 NEAR ≈ ₹407.26 (about $3.88), down 0.7% over 24 hours. The rupee itself trades about 10.6% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · November 3, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
NEAR token drops 7% after token issuance reduction proposal — questions & answers
What is the proposed change to NEAR's token issuance?
The proposal aims to reduce NEAR token issuance by 11.8 million tokens over two years.
How will this affect NEAR staking rewards?
The reduction in token issuance is expected to result in decreased staking rewards.
What is the current market reaction to the proposal?
The NEAR token has dropped 7% since the proposal's approval.
How much is 1 NEAR Protocol worth in rupee today?
About ₹407.26 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $3.88. The rupee price moves with both NEAR's US-dollar price and the USDT/INR rate; use our NEAR Protocol in rupee page for any amount.
Has NEAR Protocol's price moved since this brief was published?
NEAR is up 1.31% since this brief first published — trading at ₹368 ($3.88) now versus ₹364 ($3.83) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Cointelegraph, CryptoPotato, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.