NEAR Protocol Swap Volume Hits $130.7 Million as NEAR Token Tests $5 Resistance
NEAR Protocol's cross-chain trading activity has accelerated, with NEAR Intents recording $130.7 million in swap volume over 24 hours, according to figures in the supplied report. The increase brings the protocol's 30-day turnover to $4.59 billion and its cumulative trading volume since launch above $35 billion, while the NEAR token trades near the $5 level.
NEAR was trading in a range of $4.97 to $5.10 after recovering from a short-term decline to $4.62. The reported activity points to growing use of the network's cross-chain infrastructure, although transaction volume alone does not establish whether the demand comes primarily from institutional participants or reflects a lasting shift in market sentiment.
NEAR Intents Records Increased Protected Transaction Activity
Protected transactions accounted for 9.4% of NEAR Intents' monthly volume, representing $91.9 million in reported activity. The main route for these flows involved direct cross-chain transfers between Zcash (ZEC) and Bitcoin (BTC).
The report also described large transactions attributed to institutional-sized market participants, commonly known as whales. These transactions involved converting hundreds of thousands of dollars from shielded ZEC pools into BTC through the cross-chain protocol.
NEAR's confidential total value locked (TVL) was reported at between $151 million and $152 million. The figure reflects capital associated with confidential operations on the platform, although the supplied material does not provide an independent breakdown of the assets or the methodology used to calculate the total.
NEAR Adds Post-Quantum Account Security Options
Alongside the increase in transaction activity, NEAR is advancing its account security capabilities. Co-founder Illia Polosukhin confirmed that users can migrate their NEAR account keys to the post-quantum ML-DSA standard, according to the report.
The network's architecture is designed to allow wallet security standards to be updated without directly affecting users' funds or requiring third-party bridges for the migration. ML-DSA is a digital signature standard designed to resist attacks from quantum computers, making post-quantum cryptography relevant to the long-term security of blockchain accounts.
Bitwise NEAR ETF Reports $2.61 Million Daily Inflow
Institutional investment activity was another development highlighted in the report. The spot Bitwise NEAR ETF, identified by the ticker NRR in the supplied material, recorded a daily net inflow of $2.61 million, bringing cumulative net inflows to $83.05 million.
The fund's net assets under management reached $82.36 million. The report put that amount at 1.26% of NEAR's total market capitalization, presenting the ETF's holdings as a potential source of market support. However, fund inflows do not guarantee that the token's price will rise or that selling pressure will remain limited.
Network Infrastructure and NEAR Price Levels in Focus
The report said NEAR's decentralized multi-party computation (MPC) system had expanded to 17 independent operators. It attributed improved stability in block generation times to the expanded operator network, although no specific latency or performance measurements were provided.
It also pointed to the liquidation of short positions on exchanges as a factor that had eased selling pressure. Such liquidations can contribute to short-term price rebounds when traders betting on declines are forced to close positions, but they do not establish a sustained change in the market trend.
With NEAR trading between $4.97 and $5.10 after recovering from $4.62, the $5 area remains a key price level to watch. The available figures show substantial reported cross-chain activity and ETF inflows, but they do not confirm whether NEAR will maintain its recovery or break above nearby resistance.
source: u.today
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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