Near Protocol Surges 26% as Bitwise ETF Clears Hurdle

Near Protocol has surged 26% after bouncing back from a one-day correction. The altcoin gained 17% in a single day and another 9% in the past 24 hours, driven by both fundamental and network activity.

The approval of Bitwise's $NEAR ETF to list and trade on NYSE Arca under the ticker NRR has been a key factor in Near Protocol's rebound. The SEC has yet to approve or disapprove its effectiveness, but Bitwise teased a potential start to trading with a post reading 'The future is near. 09/29/2026.'

Near Intents' continued growth in TVL and revenue has also contributed to the altcoin's surge. Since their launch, TVL has grown continuously, now at a new high of $249 million. Near Intents has used all its revenue to buy back NEAR from the open market, reducing supply in circulation.

The altcoin is currently trading in an ascending trend channel, but bulls are facing stiff resistance around $5 due to some profit-taking and selling activity on Binance. However, the pattern often indicates buying pressure as the market makes higher highs and lows.