Key facts
- NEAR Protocol's token price increased by nearly 20% in 24 hours, reaching a high of $2.75.
- The broader cryptocurrency market capitalization decreased by 3.7% during the same period.
- NEAR has experienced a 225% bounce from a support zone between $0.90 and $1.10.
- Open Interest in NEAR derivatives rose by 11.6% in one day.
- NEAR Intents has processed $19.69 billion in volume and generated $32.64 million in fees.
- A network upgrade introducing dynamic resharding is scheduled for June.
The token of the Near Protocol blockchain, NEAR, has seen a significant rally, trading as high as $2.75, a nearly 20% increase in 24 hours, while the broader cryptocurrency market experienced a 3.7% decline. This surge follows a 225% bounce from a historical support zone between $0.90 and $1.10. Open Interest in NEAR derivatives increased by 11.6% in a single day, indicating growing trader interest. NEAR Intents, a cross-chain transaction system, has processed $19.69 billion in volume and generated $32.64 million in fees. A network upgrade in June is set to introduce dynamic resharding to improve scalability. Analysts suggest potential upside targets in the $3.40–$3.77 range, aligning with the 200-week EMA and a key Fibonacci retracement level, though resistance is noted between $2.80 and $3.00.