Over the past 24 hours (as of around 8:50 a.m. Beijing time on October 6), $NEAR was trading at around $5.34, up approximately 8.8%. Its spot trading volume on Binance was about $156 million, placing it among the top five assets by market-wide trading volume and making it the major public blockchain with the most notable volume surge today. It also ranked near the top of trending searches.
This rally has several solid supports: First, the spot NEAR ETF continues to attract inflows, with a single product recording approximately $35.5 million in inflows. Second, the community has proposed a governance measure to reduce the annual issuance rate from 2.5% to 1.6%, equivalent to an approximately 36% reduction in inflation. Third, the roughly $3.8 million stolen in an earlier attack on NEAR Intents has been recovered, helping restore sentiment. A wave of short liquidations during the rally further amplified the gains.
Why the buzz? ETF inflows and improved tokenomics provide a dual boost from fundamentals and capital flows, making the rally more solid than one driven purely by sentiment. NEAR is also betting on both AI and chain abstraction narratives, which can attract rotational capital.
Going forward, watch whether the disinflation proposal passes smoothly, whether ETF inflows continue, and whether the $5 level holds as support.
The above is for informational purposes only and does not constitute investment advice.