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NEAR staking ratio holds at 46% with $3B staked following issuance cuts, Bitwise reports

Bitwise's quarterly staking report shows that 46% of NEAR's circulating supply remains staked three quarters after token issuance was halved, maintaining $3 billion in locked value despite falling yields.

Bitwise report infographic showing NEAR gross staking APY by quarter alongside metrics of 596 million NEAR staked and a 4.87 percent average yield.
Image: @Cointelegraph

Nearly 46% of NEAR Protocol's circulating supply remains staked despite past reward reductions, according to Bitwise's Q4 2026 staking report. Stakers currently secure approximately 596 million NEAR tokens worth about $3 billion, earning an average yield of 4.87%. The staking ratio has held steady three quarters after the network halved its issuance, even as protocol governance considers implementing an additional issuance cut.[1][2][3]

The report, which sources data from Allium and Bitwise as of September 30, 2026, illustrates a sharp reduction in staking rewards over the past year. NEAR's gross staking annual percentage yield fell from 9.81% in the third quarter of 2025 to 6.34% in the fourth quarter. Yields then flattened across 2026, recording 4.88% in both the first and second quarters before settling at 4.87% in the third quarter. Bitwise noted that NEAR's stable staking participation throughout these reward cuts highlights resilience while testing the limits of network participation incentives.[2][3]

Key facts

  • About 46% of NEAR Protocol's circulating supply is staked, according to Bitwise's Q4 2026 report.
  • A total of 596 million NEAR tokens are staked, representing roughly $3 billion in value.
  • The average staking yield on NEAR is 4.87%.
  • NEAR's 46% staking ratio has held for three quarters following a halving of token issuance.
  • NEAR gross staking APY declined from 9.81% in Q3 2025 to 6.34% in Q4 2025, 4.88% in Q1 and Q2 2026, and 4.87% in Q3 2026.
  • NEAR governance is currently considering another cut to token issuance.

Sources · 3 sources

  1. BS

    BSCN@BSCNewsPost on X ·

    NEAR’s Staking Ratio Survives Another Reward Cut Nearly 46% of Near Protocol's (@NEARProtocol) $NEAR circulating supply remains staked, despite a reward cut last year. Bitwise (@Bitwise) estimates 596 million NEAR tokens are staked, worth about $3 billion at current valuations. Stakers earn an average yield of 4.87%, as governance considers another issuance cut.

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  2. CB

    Crypto BriefingArticle ·

    NEAR’s staking ratio holds at 46% with $3B staked, Bitwise reports NEAR's stable staking ratio amid reward cuts highlights resilience and tests the limits of network participation incentives. The post NEAR’s staking ratio holds at 46% with $3B staked, Bitwise reports appeared first on Crypto Briefing .

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  3. CO

    Cointelegraph@CointelegraphPost on X ·

    ⚡️ UPDATE: NEAR’s staking ratio holds at 46% three quarters after issuance was halved, with 596M tokens worth $3B staked at a 4.87% average yield, Bitwise reports. https://t.co/GqwBMAIsQJ

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