Near Intents β Statistical Analysis
With $53.1M TVL and $85.0M 24h volume (~1.60x daily turnover) but 0 audits and Trust Score: N/A, the protocol shows strong flow-through usage with elevated operational/risk uncertainty.
Updated: Β· Data Window: 24h / 7d / 30d (varies by metric availability)
1. Market Overview
TVL stands at $53.1M with a -2.68% 24h change, while volume is $85.0M (24h), $544.4M (7d), and $2.09B (30d). Reported market trading volume is $39.0M (24h) versus protocol volume $85.0M (24h), implying meaningful measurement/source differences to reconcile when sizing liquidity and flow.
2. Capital Efficiency
Capital turnover is high: 24h Volume/TVL = 85.0/53.1 = ~1.60x, 7d = ~10.26x, 30d = ~39.36x. Despite a -27.26% 1d volume change, the protocol still clears >1x daily turnover, consistent with a bridge/intent rail where inventory is reused frequently rather than parked.
3. Liquidity & Pair Spread
The venue lists 21 coins across 166 pairs, i.e., ~7.9 pairs/coin, suggesting routing complexity and liquidity fragmentation across many markets. On averages, 24h volume per pair β 85.0M/166 = ~$0.51M and per listed coin β 85.0M/21 = ~$4.05Mβhealthy aggregate flow, but likely unevenly distributed with tail pairs at materially wider effective spreads.
4. Chain Dominance
TVL is concentrated on three chains: Ethereum $18.3M (34.5%), Near $13.2M (24.9%), Bitcoin $12.3M (23.2%); top-3 total $43.8M (82.5%). Next tier is smaller: Tron $2.3M (4.3%), Solana $1.4M (2.6%), Litecoin $1.1M (2.1%); the remaining long-tail chains each sit below ~1.5%, indicating multi-chain reach but not multi-chain balance.
5. Analyst Verdict
Fee generation is meaningful relative to TVL: 24h fees $107.7K imply Fees/TVL β 0.203% per day (~74% annualized if sustained), while fee take-rate is Fees/Volume β 107.7K/85.0M = 0.127% (~12.7 bps). Revenue capture is low versus fees: 24h revenue $11.2K equals ~10.4% of fees and ~1.3 bps of volume, suggesting most value accrues outside protocol revenue. With 0 audits and Trust Score: N/A, the quantitative upside (high turnover + fee throughput) is offset by due-diligence and control risks that warrant tighter limits and ongoing monitoring.