NEAR Protocol Surges 8% on $70M TVL Milestone Airdrop

NEAR Protocol's price surged by 7.59% to $2.51 after Confidential Intents crossed the $70 million threshold in total value locked (TVL). This milestone triggered a planned airdrop for eligible users, which will distribute 333,333 locked NEAR@3.33 tokens.

The TVL figure has grown by 129.3% over the past 90 days, according to DeFiLlama. The milestone incentive program rewards participants with larger allocations based on their balances and swap activity. However, these tokens remain locked until the volume-weighted average price of NEAR stays above $3.33 for three consecutive days.

NEAR's price currently trades above the $2.44 Fibonacci support level, setting a potential target at $2.65 resistance if it holds this area. A break above $2.65 could attract additional technical buying pressure. However, traders still need confirmation from volume and broader market conditions.