Grayscale Research has spotlighted NEAR Protocol as a significant platform for agentic commerce, a rising concept in blockchain technology. The endorsement could enhance NEAR's stature in the competitive blockchain landscape and aligns with the protocol's ongoing innovations in AI and privacy. Traders and investors are likely to watch for potential whale accumulation and larger wallet movements as confidence in NEAR's growth trajectory builds.
Within three days, NEAR Protocol recorded two major developments. Bitwise's NRR ETF began trading on September 29 and attracted approximately $35 million in net inflows on its first day, according to the firm. Ahead of the launch, NEAR open interest measured in coins declined from 215 million on September 21 to 169 million on September 30, a decrease of roughly 22%, according to Santiment Intelligence. NEAR's price remained approximately 12% higher than its September 21 level despite the subsequent pullback.
On October 1, NEAR Intents disclosed a $3.8 million exploit and said the issue had been patched, with affected users set to receive full compensation. NEAR closed at $4.81 that day, recording an approximately 10% daily decline. Meanwhile, open interest increased by roughly 4%, rising from 169 million to 176 million NEAR. Santiment noted that traders added positions during the price decline, although the data does not distinguish between bullish and bearish exposure.
Technically, NEAR is trading near $4.69, below its recent peak of approximately $5.40–$5.45. The price broke above $2.78 and $3.85 during September's rally before advancing through $4.39. The $4.39 area now represents near-term support, followed by $3.85 and $3.35. The 50-day moving average stands at $4.98, above the current chart price, while the 200-day average sits at $3.35. Volume expanded during the September breakout, reaching approximately 863.28 million NEAR. A move above $4.98 could bring the recent high back into focus, while a drop below $4.39 exposes lower support levels.
