NEAR Protocol’s token extended its rally, climbing 15% over the past day to trade near $2.8, capping a strong monthly run that has seen its value double.
The latest gains are closely tied to rising adoption of NEAR Intents, the network’s cross-chain execution layer. The system enables users to specify a desired result—such as exchanging USDC on Ethereum for SOL on Solana—while third-party solvers complete the transaction in the background.
Figures from DefiLlama show NEAR Intents has facilitated more than $19 billion in total volume and generated roughly $32 million in fees, helping bring the project back into focus after a prolonged stretch of limited price movement.
Momentum accelerated after BitMEX co-founder Arthur Hayes highlighted NEAR alongside Hyperliquid’s HYPE and ZEC as part of crypto’s “holy trinity,” adding that the rally may still have further to run.
Earlier this month, NEAR had already gained around 30% as investors rotated into tokens linked to artificial intelligence and blockchain infrastructure. Institutional interest is also building, with the Bitwise NEAR Staking ETP in Europe growing to about $40 million in assets under management, including $7 million in inflows in a single week.
Market participants are now turning their attention to a June network upgrade that will introduce dynamic resharding. This enhancement is expected to improve scalability by automatically splitting network shards based on demand, allowing the system to handle higher levels of activity more efficiently.
Despite the recent surge, NEAR remains well below its 2022 high of nearly $20.
NEAR is a layer-1 blockchain focused on decentralized applications, AI-driven use cases, and seamless cross-chain interactions. It operates on a proof-of-stake consensus model and leverages sharding technology to support high throughput while simplifying the user experience across multiple blockchain networks.
