Quick Overview
- NEAR Protocol has experienced an impressive 80%+ gain over the past seven days, moving from approximately $2.20 to over $4.
- The network’s total value locked stands near $190 million as DeFi participation rebounds from early 2026 lows.
- A new confidential perpetual futures platform powered by Hyperliquid has been introduced on NEAR.
- Daily DEX trading volume reached approximately $84.19 million alongside more than 52,000 active wallet addresses.
- Market observers are closely monitoring whether NEAR can maintain its position after clearing the $3.80-$3.90 resistance zone.
NEAR Protocol (NEAR) continued its impressive upward trajectory on September 21, capping off a remarkable weekly performance that saw gains exceeding 80%.
The digital asset surged from the $2.20 level to reach approximately $4.20, representing one of the most significant price movements the token has experienced in recent months.
After breaking decisively above the $2.30-$2.50 consolidation zone, NEAR proceeded to overcome the resistance barrier located in the $2.80-$3.00 range.
This previously contested price area now serves as a critical support level should the market experience any retracement.
Network metrics show expanding activity
The total value locked across NEAR Protocol is nearing the $190 million threshold. Current measurements indicate TVL sits at approximately $187 million, positioning the network within striking distance of this key level.
Blockchain activity metrics reveal 52,391 unique active addresses during the latest 24-hour period, accompanied by roughly $84.19 million in DEX trading volume.
The stablecoin market capitalization on the network registered close to $79.86 million, while application revenue reached $64,657 in the same timeframe.
While the token’s price appreciation has significantly outpaced TVL growth, indicating these metrics aren’t directly correlated, the network has nonetheless experienced heightened trading activity concurrent with the recent price surge.
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A significant development for NEAR involves the rollout of privacy-focused perpetual futures trading, utilizing Hyperliquid infrastructure.
This new functionality enables market participants to execute trades without publicly exposing their account information or positions.
Through NEAR Intents, traders can finance positions using assets from 30 different blockchain networks while gaining exposure to over 100 tradable assets.
Market analysts assess technical outlook
Coin Bureau drew attention to the rally through social media commentary on X, emphasizing the token’s remarkable 80%+ weekly performance and noting the introduction of confidential perpetual futures trading.
Another market commentator, CryptoBullet, expressed an optimistic perspective on X. This technical analyst characterized NEAR’s broader chart formation as a double bottom pattern, identifying price objectives at $8 and $20 for spot markets, while noting potential for an extended move toward the $30-$40 range under favorable conditions.
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The recent price movement has successfully cleared the $3.80-$3.90 area that previously served as resistance.
Technical chart analysis identifies support layers around $3.40-$3.50, with additional backing located at $3.10-$3.20, and the substantial $2.80-$3.00 breakout region below.
The surge was accompanied by elevated trading volumes, while current estimates place NEAR’s market capitalization in the vicinity of $5.45 billion.
Current market pricing positions NEAR around $4.17-$4.20 following its seven-day rally, with traders closely observing whether the token can maintain support above the former $3.80-$3.90 resistance level.
The post NEAR Protocol (NEAR) Rockets 80% in a Week: Can It Sustain the $4 Price Level? appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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