NEAR Protocol Sees 83% Surge in Value, Outperforming Bitcoin and Ether

NEAR Protocol's native token has experienced a significant increase of at least 83% over the past 30 days, outpacing Bitcoin and Ether, which saw gains of approximately 5% and 1%, respectively. The surge has propelled NEAR back into the top 20 cryptocurrencies by market capitalization, peaking at around $7.2 billion and trading between $4.70 and $5.50 as of early October 2026.

The rally was primarily driven by the launch of the Bitwise NRR, the first US spot NEAR exchange-traded fund (ETF), on September 29, 2026. This ETF attracted nearly $58 million in its first week, providing a new avenue for investors to acquire NEAR without needing a crypto exchange account. Additionally, NEAR Intents, the network's cross-chain trading system, has seen cumulative trading volumes exceed $31 billion across more than 30 chains, further boosting demand for the token.

Despite the positive momentum, the rise was not without challenges. NEAR Intents faced a $3.8 million exploit in early October, although the funds were fully recovered within 24 hours. Furthermore, the NEAR community is currently debating a governance proposal to reduce the maximum annual issuance of new tokens from 2.5% to 1.6%, which could impact staking yields and overall token supply. While NEAR's recent performance is notable, it remains significantly below its all-time high of around $20 set in January 2022.

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Source: KLEA News