Open interest in NEAR Protocol derivatives reportedly reached $1.1 billion for the first time since September. The figure, which measures the notional value of outstanding futures and perpetual futures contracts, still requires confirmation at the exchange level. In October, open interest rose above $1 billion and approached $1.9 billion during a strong price rally followed by a pullback. A simultaneous increase in price and open interest can indicate growing risk appetite, while a price decline alongside heavily leveraged positions raises the risk of forced liquidations. Over the longer term, NEAR Intents adoption, transaction costs, ecosystem integrations and demand for blockchain services will determine the token’s prospects.
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