NEAR Jumps 198% in Q3; Can AI Drive the Next Leg Higher?
AI Market Summary
Bitwise CIO Matt Hougan highlighted NEAR's 198% Q3 rally, citing strong traction in its Intents product with over $30B cumulative volume and an estimated ~$45M in 2024 fees, partially returned to holders via buybacks. The combination of growing on-chain activity and explicit value accrual can improve institutional perception of NEAR relative to broader majors, supporting near-term interest and liquidity.
Impact level
● Medium
Affected assets
NEAR/USDT-0.10%
AI Insight · NEAR/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Bitwise Chief Investment Officer Matt Hougan wrote in an Oct. 7 memo that NEAR Protocol surged 198% in the third quarter. He highlighted the network's flagship product, Intents, which has surpassed $30 billion in cumulative transaction volume and is projected to generate about $45 million in fees this year. A portion of those fees is expected to be returned to token holders through buybacks. Over the same period, Bitcoin rose 43% and Ethereum gained 71%.
