NEAR Protocol’s token surged again this week, jumping about 15% in 24 hours to roughly $2.80 as a month-long rally doubled the coin’s value. The upswing has been fueled in large part by momentum around NEAR Intents, the network’s cross-chain transaction system that simplifies complex swaps across blockchains. NEAR Intents lets users specify a desired outcome — for example, swapping USDC on Ethereum for SOL on Solana — while third‑party solvers handle the cross-chain execution behind the scenes. According to DeFiLlama, Intents has now processed more than $19 billion in cumulative volume and generated roughly $32 million in fees, metrics that have renewed market interest after a period of muted price action. The rally picked up extra steam after BitMEX co‑founder Arthur Hayes named NEAR, Hyperliquid’s HYPE and ZEC as crypto’s “holy trinity” on social media and suggested there’s still “a long way to go” in their runs. Earlier in the month NEAR jumped about 30% as traders rotated back into tokens tied to AI and blockchain infrastructure, and institutional demand appears to be following: the Bitwise NEAR Staking ETP listed in Europe has grown to about $40 million in assets under management after roughly $7 million of inflows in a single week. Technical developments are adding to the bullish narrative. NEAR is scheduled to roll out a June upgrade that introduces dynamic resharding — a feature that automatically splits network shards as demand rises, aimed at improving scalability during periods of heavy usage. Despite the recent gains, NEAR remains far below its 2022 peak near $20. The protocol is a proof‑of‑stake layer‑1 blockchain built for applications, AI infrastructure and cross‑chain activity, marketing itself as a sharded platform that simplifies multi‑chain interactions while handling high throughput. The performance of NEAR Intents and growing institutional interest will be key to watch as the network prepares for the resharding upgrade.
NEAR Token Surges 15% as Intents Volume Tops $19B; Resharding Upgrade Looms
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Summary
NEAR Protocol’s token jumped 15% in 24 hours, hitting $2.80, as NEAR Intents passed $19 billion in volume and $32 million in fees. The blockchain upgrade is gaining traction ahead of a June network upgrade that introduces dynamic resharding to boost scalability. The token has nearly doubled in a month, with the network upgrade expected to drive further adoption.
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