NEAR Protocol’s native token moved into the top 20 cryptocurrencies by market capitalization on Thursday after a sharp 30-day rally, according to CoinGecko. At the time of writing, NEAR was trading near $5.51, up about 7% over the past 24 hours, with a market capitalization of roughly $7.2 billion and daily trading volume around $1.2 billion. That put it ahead of Stellar (XLM), whose market cap stood near $7 billion.
The move came as NEAR Intents, a cross-chain trading protocol, passed $31 billion in cumulative transaction volume, based on data from the NEAR Intents Explorer. The token’s climb in the rankings also followed the Sept. 29 launch of the first US spot exchange-traded product tied to NEAR. The Bitwise fund trades on NYSE Arca under the ticker NRR and gives investors exposure to the token without requiring direct crypto ownership.
The latest gains also come shortly after a security incident. Last week, NEAR Intents was hit by a $3.8 million exploit involving its deposit and withdrawal infrastructure. On Oct. 2, General Manager Alex Shevchenko said all stolen funds had been returned, one day after the breach was disclosed.
NEAR Protocol’s native token has entered the top 20 cryptocurrencies by market capitalization, with CoinGecko data showing a 138% gain over the past 30 days as of Thursday.
At the time of writing, NEAR was trading around $5.51, up about 7% over 24 hours. Its market capitalization stood at roughly $7.2 billion, while 24-hour trading volume reached about $1.2 billion. That placed NEAR ahead of Stellar (XLM), which had a market cap of nearly $7 billion.
NEAR Intents passes $31 billion in cumulative volume
According to the NEAR Intents Explorer, NEAR Intents, a cross-chain trading protocol, has processed more than $31 billion in cumulative transaction volume.
Cointelegraph said NEAR’s rise in the rankings also followed the Sept. 29 launch of the first US spot exchange-traded product tracking the token.
Bitwise fund trades under ticker NRR
The Bitwise fund is listed on NYSE Arca under the ticker NRR, giving investors exposure to NEAR without directly holding the cryptocurrency.
Protocol returned funds after $3.8 million exploit
Last week, NEAR Intents suffered a $3.8 million exploit tied to its deposit and withdrawal infrastructure. On Oct. 2, General Manager Alex Shevchenko said all stolen funds had been returned, one day after the breach was disclosed.
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