NEAR enters crypto’s top 20 after 140% surge in 30 days
NEAR climbed into the top 20 cryptocurrencies by market capitalization, as NEAR Intents surpassed $31 billion in cumulative transaction volume.
NEAR Protocol's native token surged 140% in the past 30 days, reaching a market capitalization of around $7.2 billion, placing it within the top 20 cryptocurrencies by market value, as reported by CoinGecko, according to the latest data. The cryptocurrency, which currently trades at approximately $5.51, has seen a 7% increase in the past 24 hours, with a 24-hour trading volume of roughly $1.2 billion.
This performance surpasses that of Stellar (XLM), whose market cap is nearly $7 billion. NEAR Intents, a cross-chain trading protocol, has facilitated over $31 billion in cumulative transaction volume, as per the NEAR Intents Explorer. The cryptocurrency's ascent to the top 20 also coincides with the launch of the first US spot exchange-traded product tracking NEAR on September 29.
This product is traded under the ticker NRR on NYSE Arca, offering investors exposure to NEAR without directly holding the cryptocurrency. However, NEAR's journey to the top 20 has not been without challenges. Last week, the protocol experienced a $3.8 million exploit involving its deposit and withdrawal infrastructure, but NEAR Intents has since returned all stolen funds, according to General Manager Alex Shevchenko, who announced the remediation a day after the breach was disclosed.
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