NEAR token rose 15% in 24 hours to $2.80, continuing a month-long upward trend that has nearly doubled its price (up 90%). This surge was driven by NEAR Intents, a cross-chain system that has processed over $19 billion in transaction volume and generated $32 million in fees. Investors are anticipating a network upgrade in June aimed at introducing dynamic resharding, which will automatically split network shards to enhance scalability.
The NEAR Protocol token rose 15% in the past 24 hours to $2.80, continuing a one-month upward trend that has doubled NEAR’s price over the past month.
This volatility occurred in conjunction with the success of NEAR Intents, a cross-chain trading system. The product allows users to request desired outcomes, such as exchanging USDC on Ethereum for SOL on Solana, while third-party solvers execute the trades in the background.
DefiLlama shows that NEAR Intents has processed a cumulative trading volume exceeding $1.9 billion and generated approximately $32 million in fees. These figures have reignited interest in the protocol after months of limited price movement.
This rally accelerated further after BitMEX co-founder Arthur Hayes described NEAR, Hyperliquid’s HYPE, and ZEC as the crypto “holy trinity” on social media,随后又implied that the rally “has a long way to go.”
NEAR rose by approximately 30% as traders returned to tokens linked to artificial intelligence and blockchain infrastructure earlier this month, while institutional demand also increased. The assets under management for the Bitwise NEAR Staking ETP listed in Europe have grown to approximately $40 million, with $7 million in inflows in a single week.
Investors are also watching the upcoming June network upgrade, which introduces dynamic resharding. This change aims to automatically split network shards based on demand, potentially improving scalability during periods of high usage.
Despite recent gains, NEAR's price remains well below its 2022 peak of nearly $20.
NEAR is a first-layer blockchain focused on applications, AI infrastructure, and cross-chain transactions. The network uses a proof-of-stake model and markets itself as a platform designed to simplify interactions between blockchains while handling high volumes of activity through sharding.
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