Bitwise Frames NEAR as a Blockchain Business Beyond AI Plans

Bitwise is framing NEAR Protocol (NEAR) as an operating blockchain business whose existing cross-chain activity provides the foundation for longer-term artificial intelligence applications.

NEAR Intents has processed more than $30 billion across 35-plus blockchains. NEAR Intents has recorded more than $33 billion in swap volume and more than $53 million in fees generated, with support for 35 chains.

Total gross fees from NEAR Protocol and NEAR Intents activity stood at $53.44 million on Oct. 7. Net revenue is the portion retained after payments to integration partners, solvers and decentralized applications.

NEAR Intents lets users specify a desired outcome while solvers handle execution across different blockchains. Bitwise’s thesis is that this existing activity gives NEAR a business foundation without requiring immediate mass adoption of AI agents.

The longer-term opportunity rests on the same infrastructure supporting autonomous software that can make payments, trade assets and conduct other economic activity. NEAR’s roadmap identifies cross-chain financial infrastructure through NEAR Intents and infrastructure for autonomous AI agents as its two main pillars.

A fee switch activated in February 2026 directs NEAR’s share of Intents fees to open-market buybacks. Annual inflation was reduced from 5% to 2.5%.

NEAR launched Confidential Intents in February 2026. Confidential Intents held 50.6% of total Intents value at publication.

The thesis extends earlier valuation work that outlined scenarios tied to NEAR’s role in coordinating AI agents and settling transactions across blockchain networks. Bitwise’s earlier NEAR valuation scenarios included a $155.85 base case for year-end 2030.