NEAR has entered the top 20 cryptocurrencies by market capitalization, surpassing Stellar, with a 138% increase in the last 30 days.
While the cryptocurrency market as a whole is experiencing selling pressure, NEAR Protocol’s native token has attracted investor attention with its strong performance. According to CoinGecko data, NEAR has gained approximately 138% in value over the past 30 days, placing it among the top 20 cryptocurrencies by market capitalization.
As of the time of writing, NEAR’s market capitalization had reached $7.2 billion, with a daily trading volume of $1.2 billion. This surge puts the token ahead of Stellar, which has a market capitalization of approximately $7 billion.
One of the key developments behind the rally was the growth of the NEAR Intents protocol, which enables transactions across different blockchains. The protocol’s cumulative transaction volume exceeded $31 billion. NEAR Intents allows users or AI agents to perform asset swaps and transfers between chains without directly dealing with complex bridging operations.
On the institutional side, the launch of the first US spot NEAR investment product attracted attention. Launched by Bitwise and traded on the NYSE Arca under the ticker symbol NRR, the product allows investors to access the NEAR price without directly holding the token.
It’s important to remember that the rise isn’t entirely risk-free. NEAR Intents’ deposit and withdrawal infrastructure was recently compromised with a $3.8 million attack. The project team announced that all stolen funds have been recovered. While the swift resolution of the incident eased market concerns, infrastructure security remains closely monitored.
NEAR’s future performance may be determined by ETF demand, the sustainability of Intents trading volume, and potential profit-taking following the rise. While the 138% increase indicates strong momentum, such rapid increases also raise the risk of volatility.
*This is not investment advice.
Continue Reading: Altcoin Rises 138% in One Month and Enters Top 20, What’s Behind the Rally? Here Are the Details