NEAR Posted Its Strongest Growth since Early February 2025
- NEAR has returned to a price level last seen nearly 20 months ago.
- The asset gained more than 26% in 24 hours and briefly approached the $3.80 mark.
- The token’s price jump is being linked to the launch of perpetual futures via Hyperliquid.
The NEAR Protocol token rose by more than 26% in 24 hours, nearing $3.80 — its highest level since early February 2025. Amid the broader crypto market recovery, the asset also got an extra boost from the launch of perpetual futures via Hyperliquid, and some analysts expect NEAR to continue climbing to $5.
According to CoinMarketCap, at the time of writing the asset was trading around $3.61, with a market cap of $4.72 billion.
At the same time, technical indicators and token inflows to centralized exchanges point to the possibility of a correction.
NEAR Gets a New Boost
NEAR Protocol said users can now trade perpetual futures by default directly from their existing accounts. The feature runs on Hyperliquid, and traders’ actions remain private.
Analyst Michael van de Poppe called the NEAR chart after the rally “absolutely phenomenal” and said the asset is approaching the final resistance level before a potential move to $5.
Later, he added:
“NEAR is such a fabulous chart. Probably we’ll be getting near towards a short-term top on this one, and therefore, buying the dip is the game. Next target remains to be $5 for me.”
Other market participants also took note of the token’s move. X user CW pointed to three NEAR sell levels up to $4.80, with the first one nearly cleared. Altcoin Sherpa, for his part, expects a possible pullback to $3.20 to enter a position, but believes that “in the future this asset will go much higher.”
Technical Signals Point to Correction Risk
Despite the positive momentum, at the time of writing the RSI for NEAR rose to 77, which corresponds to the overbought zone, according to RSI Hunter. Typically, readings above 70 indicate strong momentum, but they can also point to an elevated risk of a pullback.
An additional signal is the dynamics of NEAR’s net exchange flow: in recent days, inflows have significantly exceeded outflows. This may indicate that some assets are being moved from self-custody to centralized platforms, potentially increasing the supply available for sale.
The rally comes amid several developments in NEAR’s evolution. In July, X user KYSЬ proposed burning tokens bought back using fees from NEAR Intents, as well as a portion of NEAR Foundation tokens. NEAR co-founder Illia Polosukhin called burning “an extremely inefficient way” and suggested shifting the project’s tokenomics toward a fixed supply over the next few years.
In August, Polosukhin also proposed creating a NEAR sovereign fund to provide targeted financing for ecosystem development.
Separately, NEAR Protocol switched to Confidential by Default mode: users’ balances, deposits, swaps, yields, and payments are hidden by default via the Confidential Intents mechanism, where transactions are executed in a private environment with a TEE bridge.
Сообщение NEAR Posted Its Strongest Growth since Early February 2025 появились сначала на INCRYPTED.
Source: Incrypted