NEAR Protocol Token Enters Crypto Top 20 as Intents Volume Tops $31B

NEAR Protocol’s native token (NEAR) entered the top 20 cryptocurrencies by market capitalization, with its market value reaching about $7.2 billion as NEAR Intents exceeded $31 billion in cumulative volume.

NEAR traded near $5.51, up about 7% over 24 hours. Daily trading volume was roughly $1.2 billion, and NEAR ranked ahead of Stellar (XLM), whose market capitalization stood near $7 billion.

NEAR Intents is a cross-chain trading protocol that facilitates transactions across different blockchain networks. Its cumulative transaction volume has now exceeded $31 billion.

The market milestone followed the Sept. 29 launch of the first U.S. spot exchange-traded product tracking NEAR. The Bitwise fund trades on NYSE Arca under the ticker NRR and provides exposure to the crypto without requiring direct token ownership.

NEAR Intents also faced a security incident during the period. A $3.8 million exploit affected its deposit and withdrawal infrastructure, with the breach disclosed Oct. 1. General Manager Alex Shevchenko said Oct. 2 that all stolen funds had been returned.