Trading volume showed its hand first—$BTC was almost flat, while $NEAR did about $230 million in a day on Binance spot.
The current price is around 5.30, up about 11.6% over 24 hours, after moving from 4.53 to a high of 5.44 intraday. Over the same period, BTC moved just 0.6%; this trading volume has already surpassed XRP, BNB, and DOGE.
There are two verifiable reasons the market may be piling into this token: first, the Bitwise spot NEAR ETF (NRR, launched on 9/29)—CryptoBriefing reported that its 10/12 snapshot showed holdings of about 15.78 million NEAR, worth roughly $79.2 million, accumulated directly from the spot market, with plans to stake; second, NEAR Intents has recorded about $34 billion in cumulative DEX volume on DefiLlama, including roughly $4.7 billion over the past 30 days, while Holders Revenue, according to the protocol, goes toward spot buybacks of $NEAR .
The broader market isn’t offering a tailwind, but liquidity has already taken this token’s side—I’m leaning bullish.
$NEAR #ETF
The current price is around 5.30, up about 11.6% over 24 hours, after moving from 4.53 to a high of 5.44 intraday. Over the same period, BTC moved just 0.6%; this trading volume has already surpassed XRP, BNB, and DOGE.
There are two verifiable reasons the market may be piling into this token: first, the Bitwise spot NEAR ETF (NRR, launched on 9/29)—CryptoBriefing reported that its 10/12 snapshot showed holdings of about 15.78 million NEAR, worth roughly $79.2 million, accumulated directly from the spot market, with plans to stake; second, NEAR Intents has recorded about $34 billion in cumulative DEX volume on DefiLlama, including roughly $4.7 billion over the past 30 days, while Holders Revenue, according to the protocol, goes toward spot buybacks of $NEAR .
The broader market isn’t offering a tailwind, but liquidity has already taken this token’s side—I’m leaning bullish.
$NEAR #ETF