NEAR Protocol Jumps 45% as AI Hype and Bullish Momentum Fuel Rally

NEAR Protocol continued its upward momentum, gaining 3.1% in the past 24 hours to reach $2.68, up from $2.60. The layer-1 blockchain has now climbed 45% since June 17, fueled by renewed optimism in the broader altcoin and AI-driven crypto sectors.

The recent surge aligns with a broader rally in artificial intelligence tokens, pushing the sector’s market cap to $33.64 billion. Sentiment around AI-related projects remains high, especially after fund manager Bitwise posted on X about NEAR’s plan to utilize “billions of AI agents” to manage capital and automate trading. This narrative has amplified investor interest in NEAR and similar tokens riding the AI wave.

Trading activity spiked significantly, with a high-volume surge of 5.81 million NEAR tokens recorded at 14:00 on July 16—more than double the 24-hour average of 2.55 million. Despite brief volatility, NEAR maintained strong support between $2.56 and $2.62, holding firm after multiple successful retests. Resistance emerged at the $2.70–$2.72 range, where selling pressure temporarily stalled upward momentum.

In the final hour of the trading session, NEAR dipped slightly from $2.71 to $2.68, a minor 1.11% pullback that reflected profit-taking after the day’s rally. Volume spikes during this consolidation phase suggest ongoing interest and accumulation.

With bullish technical indicators, strong volume, and growing integration into the AI narrative, NEAR Protocol appears well-positioned for further upside if momentum holds. As market attention shifts increasingly toward AI and interoperability-focused chains, NEAR’s strategic positioning could help it outperform peers in the coming weeks.