Near Protocol aims for a 23% rally to $2.74 after breaking a head-and-shoulders reversal pattern.
The AI-native blockchain protocol gained momentum as Bitwise Europe listed a NEAR staking Exchange-Traded Product (ETP) on Deutsche Börse Xetra, highlighting institutional interest in AI tokens.
Key Market Data
- Price: $2.26 (up 7% amid bullish sentiment)
- Open Interest: $237M (+7%)
- 24H Trading Volume: $649M (+61%)
- Liquidations: $628K (78% shorts)
Bitwise NEAR Staking ETP Launches on Deutsche Börse Xetra
Bitwise Europe’s NEAR-staking ETP (ticker: NEAR) went live Wednesday, offering regulated exposure to Near Protocol’s AI-focused blockchain. The product stakes NEAR holdings, targeting ~5.5% net returns after fees.
👉 Explore NEAR staking opportunities
Illia Polosukhin, Near Foundation co-founder:
"NEAR powers a new internet—where AI serves humanity, not platforms. This ETP brings that vision closer to global investors."
Near Protocol remains the second-largest AI token by market cap ($2.8B), trailing Bittensor (TAO, $2.9B).
Technical Analysis: NEAR Targets $2.74 (+23%)
Bullish Indicators:
Price above key EMAs:
- 50-day EMA: $2.15
- 100-day EMA: $2.17
- Head-and-shoulders reversal confirmed with a breakout above $2.23 (neckline resistance).
- MACD buy signal persists since Wednesday, reinforcing upward momentum.
Projected Rally:
- Target: $2.74 (23% rise from breakout point).
Support Levels:
- $2.23 (100-day EMA)
- $2.17 (50-day EMA)
Caution: Profit-taking may test support if the $2.26 (200-day EMA) resistance holds.
FAQs
Q: What drives NEAR’s bullish momentum?
A: Institutional interest via Bitwise’s ETP, AI sector growth, and technical breakout patterns.
Q: How does the staking ETP work?
A: It stakes NEAR tokens, aiming for ~5.5% annualized returns after fees, while maintaining liquidity on regulated exchanges.
Q: What’s NEAR’s position among AI tokens?
A: It’s the #2 AI token by market cap, closely competing with Bittensor (TAO).
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Disclaimer: This content represents the author’s views only. CFD trading carries high risk; consult a financial advisor before investing.
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