- Near Protocol price has soared amid the rising volume and open interest.
- The coin has benefited from its confluence between AI and privacy.
- It has formed a cup-and-handle pattern and a golden cross pattern.
Near Protocol price continued pumping today, May 25, continuing a trend that started in February when it tumbled to $0.8465. It jumped to $2.80, up by 228% from its lowest point this year, giving it a market capitalization of over $3.4 billion.
Near Protocol Price Jumps Amid FOMO and AI Hype
The Near token is soaring as demand continues rising amid the ongoing privacy and artificial intelligence (AI) tools. Data shows that the volume jumped by 23% in the last 24 hours to over $1 billion. This surge is a sign that demand has continued rising in the spot market.
NEAR price also jumped amid the elevated demand in the futures market. Its volume in the futures industry jumped to $2.35 billion, while the open interest soared to $841 million.
This growth is happening because Near Protocol is at the intersection of two fast-growing industries: artificial intelligence and privacy. AI coins have soared as investors wait for the upcoming OpenAI, Anthropic, and SpaceX IPOs, which will unlock over $4 trillion in value.
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The rally is also because of the ongoing demand for AI assets. For example, AI companies like Sandisk, Micron, Intel, Western Digital, Lumentum, and Dell Technologies have been the best gainers in the S&P 500 Index this year.
Near is a major player in the AI industry, with the Near.ai platform helping people run the OpenClaw AI agent through its cloud solution.
At the same time, Near runs a platform that enables users to trade, access yield, and go confidential across 35 networks like Ethereum, Solana, and BNB Chain. Users are also able to trade different coins in a highly confidential manner.
Demand for privacy tokens has jumped in the past few months, with the Zcash price continuing to soar. It has become one of the best-performing coins in the crypto industry.
NEAR Price Prediction: Technical Analysis
Technical analysis suggests that the Near Coin price has surged in the past few months. While this may be a sign that the token is about to retreat, technicals suggest that it has more room to run.
The token is about to form a golden cross pattern, which happens when the 50-day and 200-day moving averages cross each other. It is also slowly forming a cup-and-handle pattern, whose upper side is at $3.1760.
The C&H pattern has a depth of about 72%. Measuring the same distance from the cup’s upper side gives it a target of $5.45, which is nearly 100% above the current level.
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