NEAR Gains Momentum with Proposed Sovereign Fund
The NEAR Protocol is gaining momentum as a governance proposal introduces a new long-term vision for its token economy.
A Sovereign Fund, financed by 30 million NEAR tokens, has been proposed to establish a stable source of revenue for the network.
This development arrives as NEAR records its fourth consecutive day of gains, with buyers returning to both spot and derivatives markets.
The large holders of NEAR, known as whales, have also become increasingly active during this rally, according to data from CryptoQuant.
The derivatives market is showing similar signals, with positive Funding Rates indicating that long traders are willing to pay a premium to maintain their bullish positions.
Technical analysis suggests that buyers are in control, and if the trend continues, NEAR could be heading towards its next major liquidity zone at $1.85.