NEAR Protocol Price Surges to $2.26 on Derivatives Frenzy

The price of NEAR Protocol has broken above $2 after weeks of consolidation, reaching around $2.26 and extending its short-term recovery.

The surge in derivatives activity is a key factor behind this rally, with futures volume increasing by 150.65% to $964.57 million over the past 24 hours.

Open interest has also risen significantly, up 33.06% to $571.79 million.

This increased participation in the derivatives market suggests that traders are actively positioning themselves around the NEAR breakout.