NEAR surged 32% thanks to new momentum from the ecosystem – is this trend sustainable?

NEAR Protocol ( is making a significant breakout in the field of cross-chain interaction, after Thorwallet announced the integration of NEAR Intents — a feature that allows seamless swap transactions between dozens of different blockchains.

This move is seen by many investors as an important milestone on the journey to building a comprehensive DeFi ecosystem, where blockchain networks can communicate and operate smoothly together, without barriers.

Immediately after the announcement, the price of the NEAR token surged by over 32%, reflecting the market's strong confidence in the project's growth potential.

The halving event tightens supply

Alongside the integration of Thorwallet, NEAR Protocol has officially completed its halving on October 30 — a significant milestone that helps significantly reduce the circulating supply of tokens, amid the increasing demand from institutional investors.

According to the announcement sent to the community, the maximum annual inflation rate of NEAR has been adjusted from 5% to 2.5%, marking a strong step towards a more sustainable economic model.

The growing gap between the shrinking supply and the increasing demand may soon create a deflationary supply shock, potentially triggering a strong upward price trend in the near future.

The history of the cryptocurrency market shows that halving events are often catalysts for speculative capital flow, as traders bet on the prospect of scarce supply driving prices higher. Currently, NEAR seems to be following the familiar trajectory of top assets like Bitcoin, as both the spot and derivatives markets are witnessing a noticeable increase in investor participation.

The open interest of NEAR has surged

In the derivatives market, the flow of funds from institutional investors is starting to move strongly. According to the latest data from Coinalyze, the open contract )OI( of NEAR has skyrocketed to 219 million USD in just 24 hours as of the time of writing — a clear sign that significant capital is pouring into this asset.

![near-tang])https://img-cdn.gateio.im/webp-social/moments-aa828924114ba266689a233151f721a6.webp(Source: CoinalyzeThis trend is completely in line with the liquidity heatmap leaning towards an upward trend, reflecting the increasing buying pressure in key price areas.

Specifically, the Liquidity Heat Maps data from CoinGlass recorded a liquidity cluster worth 786,000 USD around the 3.17 USD mark, reinforcing that this is an important target price that traders are aiming for.

![])https://img-cdn.gateio.im/webp-social/moments-ce6422ca1258a3c5704bf744dc0b9c43.webp(Source: CoinGlassThe combination of positive signals indicates strong confidence from both individual and institutional investors that NEAR's upward momentum still has room to expand in the short term.

The next prospects for NEAR

With the resonant push from Thorwallet integrating NEAR Intents, the upcoming halving event, and the strong momentum of OI, the biggest question now is: will the increasing demand be strong enough to sustain the buying pressure to extend the upward trend of NEAR?

If NEAR continues to hold strong at important support levels and momentum indicators remain biased towards the bulls, the token price could definitely advance to conquer higher resistance levels in the near future.

Currently, market sentiment still leans towards an upward trend, and NEAR seems to be in a favorable position to take advantage of the expanding ecosystem along with the increasingly scarce supply.

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