NEAR’s strength on October 28 was driven by three factors converging: events, fund flows, and governance expectations.
◆ Events: On October 27, a confidential Anthropic pre-IPO perpetual contract, ANT, went live in the NEAR ecosystem, offering up to 10x leverage. It is cash-settled and does not represent actual shares. That same week, on October 26, Anthropic filed an S-1 with the U.S. SEC, proposing a Nasdaq listing under the ticker ANT.
◆ Fund flows: The Bitwise NEAR spot ETF saw net inflows of approximately $993,000 on October 23, marking its third consecutive day of net inflows. Cumulative net inflows reached approximately $88.26 million, with net assets of around $83.39 million. These inflows are notable against a backdrop of outflows from several major crypto ETFs over the same period.
◆ Governance expectations: Voting on proposal HSP-029 ends on November 2. It proposes lowering NEAR’s annual issuance rate from 2.5% to 1.6%. If approved, the growth rate of new supply would be cut by roughly one-third.
◆ Price levels: On October 28, $NEAR was around $4.70, up approximately 5% over 24 hours, down around 5.6% over 7 days, and down around 9.1% over 30 days. The day’s rebound was substantial, but it has not yet reversed the negative weekly and monthly trends.
◆ Intraday range: NEAR traded in an approximate range of $4.39–$4.78 on October 28, while the $4.30 level remains a frequently cited support reference in recent discussions.
Of the three factors, ETF inflows and a lower issuance rate are medium-term variables, while the pre-IPO contract is more of a short-term, event-driven catalyst. Whether the price can hold above $4.78 will provide the first confirmation, ahead of any narrative.
#NEAR $NEAR
Personal views only; this is not investment advice.
◆ Events: On October 27, a confidential Anthropic pre-IPO perpetual contract, ANT, went live in the NEAR ecosystem, offering up to 10x leverage. It is cash-settled and does not represent actual shares. That same week, on October 26, Anthropic filed an S-1 with the U.S. SEC, proposing a Nasdaq listing under the ticker ANT.
◆ Fund flows: The Bitwise NEAR spot ETF saw net inflows of approximately $993,000 on October 23, marking its third consecutive day of net inflows. Cumulative net inflows reached approximately $88.26 million, with net assets of around $83.39 million. These inflows are notable against a backdrop of outflows from several major crypto ETFs over the same period.
◆ Governance expectations: Voting on proposal HSP-029 ends on November 2. It proposes lowering NEAR’s annual issuance rate from 2.5% to 1.6%. If approved, the growth rate of new supply would be cut by roughly one-third.
◆ Price levels: On October 28, $NEAR was around $4.70, up approximately 5% over 24 hours, down around 5.6% over 7 days, and down around 9.1% over 30 days. The day’s rebound was substantial, but it has not yet reversed the negative weekly and monthly trends.
◆ Intraday range: NEAR traded in an approximate range of $4.39–$4.78 on October 28, while the $4.30 level remains a frequently cited support reference in recent discussions.
Of the three factors, ETF inflows and a lower issuance rate are medium-term variables, while the pre-IPO contract is more of a short-term, event-driven catalyst. Whether the price can hold above $4.78 will provide the first confirmation, ahead of any narrative.
#NEAR $NEAR
Personal views only; this is not investment advice.
