NEAR Protocol jumps 16% over weekend as record volume and supply-cut proposal fuel rally
- —NEAR gained 16% over the weekend, touching $6.00 on Binance on October 10 before cooling to about $5.64
- —Daily trading volume hit a record ~$3.54 billion, a 98% increase
- —NEAR rose at least 83% in the four weeks to mid-October, with market cap around $7.2 billion
- —Bitwise launched the first US spot NEAR ETF (NRR) on September 29, drawing nearly $58 million in its first week
Why it matters: The outcome of the issuance-cut vote and whether NRR inflows hold past launch week will determine if NEAR can sustain its 83% monthly rally.
Source: Crypto Briefing