- NEAR holds $244 million in total value locked versus ICP’s $12 million, while Confidential Intents accounts for $171 million, according to the report.
- ICP founder Dom criticized NEAR’s confidentiality model and raised concerns about vetKeys, though the allegations remain disputed.
- NEAR retreated toward support after failing to sustain October rallies, with 29%–30% marking support and 45%–50% remaining resistance.
NEAR holds $244 million in chain total value locked, compared with ICP’s $12 million, as debate over privacy technology intensifies. Our Crypto Talk highlighted the gap alongside criticism from ICP founder Dom, who challenged NEAR’s Confidential Intents and raised concerns about vetKeys. Meanwhile, NEAR’s chart shows weakening momentum after a correction from its October highs.
Dom Questions NEAR’s Confidentiality Model
According to Our Crypto Talk, Dom shared an engineer’s review describing Confidential Intents as a permissioned system with trusted operators, no public code, and no public operator list. He later called the project “snake oil” and raised the possibility of legal action over vetKeys, though these remain allegations.
The criticism centers on NEAR’s trust model, including a private shard, a limited group of permissioned validators, and a trusted execution environment bridge. Our Crypto Talk said these components do not constitute threshold cryptography.
However, the commentary described disclosure as a weaker criticism because NEAR publicly outlined its permissioned shard and TEE bridge when launching in February. It also noted that ICP documentation says node operators can read standard subnet state.
NEAR Leads ICP in Locked Value and Performance
Confidential Intents holds $171 million, according to Our Crypto Talk, representing a 6.4-fold increase since June. The source noted that incentives contributed to part of that growth, while ICP’s entire ecosystem holds approximately $12 million.
The comparison also showed NEAR down 76% from its all-time high, against ICP’s 99.7% decline. Since February, NEAR has gained 4.3 times, while ICP has remained roughly flat. Their market-cap-to-TVL ratios stand at approximately 25 times for NEAR and 100 times for ICP.
NEAR Chart Shows Selling Pressure Near Support
On the four-hour chart, NEAR has retreated toward the 29%–30% cumulative-gain zone after failing to sustain rallies above 50%. Its latest candle closed at $4.570, down 0.04%, with trading volume at 209,500 NEAR.
Repeated recoveries failed to establish higher highs following an October 11–12 surge toward 68%–70%. Support is around 29%–30%, with the 20%–25% region below. A recovery toward 35%–40% could indicate improving buying interest, while 45%–50% remains resistance. ICP’s comparison line has fallen 6.46% below its starting baseline.
