Richard

Another bullish start to the week for $NEAR. @NEARProtocol appears to be emerging as a sweetheart for institutions, @Bitwise's new ETF seeing +$1.4M in net inflows on Monday. The inflows extend a phenomenal streak for the product which has seen net inflows on all but three days since launch... ... and now holds 1.37% of $NEAR's supply.

I think $NEAR is one of the most interesting top 10 candidates this bull run. and no, i’m not saying that just because I’m a maxi or because hold it. look at what is happening. 1/ NEAR Intents has processed over $35B in cumulative volume, with around $4.26B in the last 30 days. people can argue about the narrative, but that is real activity. 2/ the product is generating fees too. DefiLlama puts 30 day Intents fees at around $6.48M. now imagine what happens if cross chain trading keeps growing and $NEAR captures more of that activity. 3/ then there’s privacy. Confidential Intents has seen roughly $1.53B in 30 day volume. the AI agent economy is going to need more than smart chatbots. agents will need to transact, pay for services and keep sensitive operations private. NEAR is building for that. 4/ compare the lanes. $ETH has deep DeFi and institutional adoption. $SOL has consumer apps, memes and trading. $TAO has the decentralised AI narrative. $ZEC has the privacy sector $NEAR is making a bet on cross chain finance, confidential execution and the infrastructure AI agents will need to move money. that combination is worth paying attention to. 5/ and this isn’t only a future story. NEAR has Intents, Confidential Intents, NEAR AI, IronClaw, an agent marketplace and NEAR Business. the question isn’t whether every product wins. it’s whether enough of them gain traction to change how the market values the network. 6/ there’s another angle people keep overlooking: token economics. a proposal to reduce maximum annual issuance from 2.5% to 1.6% is worth watching, alongside the buybacks funded by Intents revenue. neither automatically sends the price higher. sustained demand is what matters. 7/ now look at the valuation. NEAR is around a $5.8B market cap and roughly #17 by market cap at the time of writing. getting into the top 10 would require a serious move. i’m not pretending otherwise. but crypto valuations can change quickly when real usage, a strong narrative and fresh capital meet. 8/ my thesis is simple. if Intents keeps growing, privacy becomes more important, agentic commerce starts producing real transactions and token value capture improves, i think the market could be forced to reprice $NEAR. there are risks. the recent bridge exploit, competition and the sustainability of current activity all matter. i’m watching the numbers, not ignoring the risks. but top 10 this bull run? i think it’s a serious possibility, and i’m not waiting for everyone to agree before paying attention. what am i missing? 👀