$NEAR ✍️ Something has changed with the NEAR thesis. Daily REV just hit its highest level since April 2024, and unlike the last major revenue cycle, NEAR Intents is now a major part of the story. That matters because NEAR is increasingly sitting at the intersection of liquidity, privacy and agent-driven activity. The latest numbers are already getting attention: • +81% NEAR from Sep 13 to Sep 20 • +119% dollar-denominated open interest • +21% open interest measured in NEAR • Funding hit 1.6x its 2-month median • $30B Intents volume • $48M Intents fees The Sep 17 confidential perps launch is an important catalyst, but the bigger story is the infrastructure being built underneath it. Cross-chain liquidity through Intents. Confidential execution. AI agents that can hold capital. A unified UX through https://t.co/p05YciAWWf. This is why I think the “just another L1” framing misses what NEAR is becoming. The real moat is the rails. 🚀