NEAR Protocol's native token entered the top 20 cryptocurrencies by market capitalization on Thursday, following a 138% price increase over the preceding 30 days, according to data from CoinGecko. The token traded around $5.51, reflecting a 24-hour gain of about 7%, with a market capitalization of approximately $7.2 billion and a 24-hour trading volume of roughly $1.2 billion. This placed its market cap ahead of Stellar, which sat at nearly $7 billion.
The growth coincides with significant activity on NEAR Intents, a cross-chain trading protocol that has processed over $31 billion in cumulative transaction volume, according to the NEAR Intents Explorer.
NEAR's market position has also been supported by product developments. On Sept. 29, the first US spot exchange-traded product tracking the token was launched. Issued by Bitwise and trading on NYSE Arca under the ticker NRR, the fund provides investors with exposure to the cryptocurrency without requiring direct holdings.
Additionally, the NEAR Intents platform addressed a security incident last week involving a $3.8 million exploit of its deposit and withdrawal infrastructure. On Oct. 2, General Manager Alex Shevchenko confirmed that all stolen funds had been returned, just one day after the breach was publicly disclosed.
