NEAR Protocol saw its token rise from around $1.80 in early September to approximately $5.55 by Sept. 27, representing a gain of more than 100% in two weeks and making it one of the strongest-performing major altcoins. Derivatives activity surged alongside the price rally, with dollar-denominated open interest jumping 119%, while NEAR spot trading launched on Hyperliquid on Sept. 22. Bitwise launched the first U.S. spot NEAR ETF on Sept. 29, ticker NRR, with a 0.75% annual fee, reportedly attracting about $58 million in its first week. The investment case is supported by Bitwise’s maximum-case projection of $562.81 by 2030, based on NEAR capturing 3% of the global AI agent market with a 50-times price-to-sales multiple. With RSI near 75 as of Oct. 6, the technical structure has become stretched, with key support now at the $4.60-$4.70 area.
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