The NEAR Protocol token entered the top 20 cryptocurrencies by market capitalization on Thursday after a 138% increase over the past 30 days, according to CoinGecko data. At the time of writing, the NEAR token was valued at approximately $5.51, which is 7% higher than the previous day, and the market capitalization reached about $7.2 billion, with a 24-hour trading volume of around $1.2 billion. NEAR ranks above Stellar (XLM), which has a market capitalization of nearly $7 billion.
According to NEAR Intents Explorer data, NEAR Intents, a cross-chain trading protocol, has processed over $31 billion in cumulative transaction volume. NEAR's rise in the rankings also followed the launch on September 29 of the first U.S. spot exchange-traded product tracking the token. The Bitwise fund trades on NYSE Arca under the ticker NRR, offering investors access to NEAR without the need for direct cryptocurrency ownership.
However, NEAR Intents discovered a vulnerability amounting to $3.8 million, affecting the deposit and withdrawal infrastructure, which occurred last week. On October 2, General Manager Alex Shevchenko reported that all stolen funds were returned the day after the incident was disclosed.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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