I recalculated using today’s data, and the conclusion is even more interesting than before.
Currently, NEAR is about $4.81, with a market cap of roughly $6.3 billion and a circulating supply of about 1.31 billion tokens. A month ago it was around $1.95—so the monthly increase is already over 146%.
And NEAR Intents over the last 30 days:
* Trading volume: $4.778 billion
* Fees: $7.46 million
* Net income: $1.91 million
* Cumulative trading volume: $32.087 billion
* Cumulative fees: $52.14 million
* Current net income is used for NEAR buybacks, not direct burns.
So mathematically:
For NEAR to reach $10, it doesn’t need to become a “super mega giant.”
A market cap of around $1.3 billion isn’t that outrageous. The real question is:
Can Intents grow from the current net income of about $1.9 million/month to $5 million and $10 million/month?
⸻
What I care about most is this inflection point.
Currently, net income over 30 days is about $1.91 million, which annualizes to about $22.9 million.
If in the future it reaches:
$5 million/month → $60 million/year
Then the revenue multiple corresponding to the current $1.3 billion market cap is roughly:
21.8× annual revenue
If it reaches:
$10 million/month → $120 million/year
Then:
$1.3 billion market cap / $120 million ≈ 10.9×
At that point, NEAR’s valuation logic would be completely different.
⸻
So I’ll give you a very simple observation table.
NEAR $10:
I think this is a fairly realistic medium-term target.
The premise is that Intents’ monthly net income can steadily move closer to around $5 million/month.
NEAR $15:
Intents needs to continue rapid growth, and at the same time, scenarios like AI Agent, cross-chain payments, and stablecoin settlement must truly scale up.
NEAR $20:
It can’t rely on Intents’ current business scale alone.
It needs to become something the market recognizes as:
AI Agent + cross-chain transactions + payment settlement infrastructure.
⸻
But there’s one data point that excites me even more:
NEAR Intents’ TVL has grown by 94.3% over the last 30 days; it’s now about $228 million. It has also already connected to 26 chains.
This shows it’s not only about “revenue growth” right now.
Capital, transaction volume, and revenue are all growing together.
That’s much healthier than a sudden spike in a single token’s transaction fees.
Currently, NEAR is about $4.81, with a market cap of roughly $6.3 billion and a circulating supply of about 1.31 billion tokens. A month ago it was around $1.95—so the monthly increase is already over 146%.
And NEAR Intents over the last 30 days:
* Trading volume: $4.778 billion
* Fees: $7.46 million
* Net income: $1.91 million
* Cumulative trading volume: $32.087 billion
* Cumulative fees: $52.14 million
* Current net income is used for NEAR buybacks, not direct burns.
So mathematically:
For NEAR to reach $10, it doesn’t need to become a “super mega giant.”
A market cap of around $1.3 billion isn’t that outrageous. The real question is:
Can Intents grow from the current net income of about $1.9 million/month to $5 million and $10 million/month?
⸻
What I care about most is this inflection point.
Currently, net income over 30 days is about $1.91 million, which annualizes to about $22.9 million.
If in the future it reaches:
$5 million/month → $60 million/year
Then the revenue multiple corresponding to the current $1.3 billion market cap is roughly:
21.8× annual revenue
If it reaches:
$10 million/month → $120 million/year
Then:
$1.3 billion market cap / $120 million ≈ 10.9×
At that point, NEAR’s valuation logic would be completely different.
⸻
So I’ll give you a very simple observation table.
NEAR $10:
I think this is a fairly realistic medium-term target.
The premise is that Intents’ monthly net income can steadily move closer to around $5 million/month.
NEAR $15:
Intents needs to continue rapid growth, and at the same time, scenarios like AI Agent, cross-chain payments, and stablecoin settlement must truly scale up.
NEAR $20:
It can’t rely on Intents’ current business scale alone.
It needs to become something the market recognizes as:
AI Agent + cross-chain transactions + payment settlement infrastructure.
⸻
But there’s one data point that excites me even more:
NEAR Intents’ TVL has grown by 94.3% over the last 30 days; it’s now about $228 million. It has also already connected to 26 chains.
This shows it’s not only about “revenue growth” right now.
Capital, transaction volume, and revenue are all growing together.
That’s much healthier than a sudden spike in a single token’s transaction fees.