NEAR Protocol [NEAR] gained a stronger Artificial Intelligence (AI) narrative as Grayscale highlighted its ambitions in agentic commerce.
In research shared on the 2nd of October, Grayscale described NEAR as a platform for agentic commerce. This would allow self-directed AI agents to request work, pay for services, and interact with applications.
The report outlined potential blockchain uses across programmable payments, identity management, private computing, and transaction records.
NEAR’s Chain Abstraction and intent-based execution could also reduce the steps required for agents to transact across blockchains.
Moreover, co-founder Illia Polosukhin co-authored the research that introduced the Transformer architecture, now widely used in AI systems.
That background lends credibility to NEAR’s AI ambitions. However, its long-term position depends on whether agents actually use the network.
NEAR gained 183% in September, compared with 54% for Grayscale’s AI crypto sector. Growing interest could help NEAR attract more capital, but sustained agent activity would give that interest firmer backing.
NEAR shifts users to new wallets
As NEAR’s AI narrative broadens, its existing users face a more immediate change.
MyNearWallet announced its planned sunset for the 31st of October, with users directed toward alternatives including Meteor Wallet and near.com.
The migration timeline scheduled guided tools for August and September, followed by reduced functionality from October.
Since migration can create friction that may result in temporary interruptions of activity despite the funds remaining on-chain, this will become apparent post deadline.
Thus, stable active addresses and continued staking participation would indicate that the migration was successful. Conversely, decreased activity could demonstrate that there are retention issues.
A smooth migration process would add credibility to NEAR’s ecosystem and further reinforce their AI growth story. Disruption would detract from the narrative.
Can AI activity trigger another NEAR season?
Meanwhile, NEAR’s price action presented a separate test for buyers following September’s rally.
The token had climbed above $5 after breaking out of its summer trading range. At press time, NEAR traded near $5.25 after rebounding from $4.70–$4.80 on Monday, the 5th of October.
The rebound followed September’s strong advance, while rising Trading Volume supported the bullish view. Expanding volatility bands indicated larger price swings, leaving room for sharp moves in either direction.
However, resistance near $5.39–$5.44 now limits the next advance, while $5.13 offers immediate support. A decisive close above resistance could extend momentum toward $5.56 and $6.00.
Conversely, losing $5.13 could trigger a deeper reset toward $4.70. Therefore, sustained AI activity and capital flows must support the rally beyond speculation.
Final Summary
- NEAR Protocol gains AI momentum as Grayscale highlights agentic commerce and NEAR’s 183% September surge.
- MyNearWallet’s sunset requires users to change interfaces while their tokens and staking positions remain on-chain.