NEAR Protocol (NEAR) gained 6.23% over the past 24 hours to reach $5.38, as Bitwise CEO Matt Hougan outlined the network's potential as infrastructure for AI agent transactions.
Hougan identified NEAR as a rare smaller-cap cryptocurrency combining an existing business with significant artificial intelligence upside. He pointed to NEAR Intents, which has processed more than $30 billion in cumulative volume as a foundation supporting the network's broader ambitions.
Operational Metrics and Growth
NEAR Intents' 30-day volume exceeded $4 billion, representing 896% year-over-year growth. Thirty-day revenue surpassed $2 million, up 512% compared to the prior year, according to figures shared by NEAR.
Bitwise recently launched its first U.S. spot NEAR ETF, providing regulated brokerage access to the asset while incorporating staking rewards.
Settlement Infrastructure for AI Commerce
Bitwise described NEAR as building a settlement engine for fast and inexpensive transactions at AI scale. The network aims to support transactions between AI agents as their role in digital markets expands.
NEAR Intents allows users or AI agents to specify desired outcomes, with a network of market-making bots called solvers handling cross-chain execution. Bitwise outlined this structure as a potential flywheel where increased AI agent activity could drive greater Intents usage and settlement demand on NEAR Protocol.
The network has expanded beyond cryptocurrency transfers to include tokenized U.S. stocks and ETFs through Ondo Finance integration.
Long-Term AI Vision
Hougan described NEAR's larger ambition as becoming infrastructure where AI agents transact with each other and the broader economy. He argued that investors need not rely entirely on that AI future because NEAR already generates activity through its existing Intents business, with the AI opportunity providing additional strategic optionality.
NEAR's 30-day performance extended a broader rally, rising over 130% during the period.
