NEAR Protocol (NEAR) is moving into a downward direction as the general conditions in the crypto market have changed to slightly bearish. According to CoinMarketCap, as of Wednesday, April 15, its price has declined by 4.52% over the last 24 hours and 1.24% over the last week.
At the time of writing, the token is trading at $1.35, with a trading volume of $216.21 million, which has declined by 12.43% over the last 24 hours. However, its market capitalization stands at $1.75 billion, which is also down by 4.52%.
Source: CoinMarketCap
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NEAR Intents Growth Could Drive Rally Toward $7-$10
NEAR Protocol is gaining traction as the crypto analyst Michael van de Poppe highlights a potential breakout toward $3–$4, with further upside possible in coming months.
Many view the asset as undervalued given current conditions, supported by stronger fundamentals, reduced inflation, and increasing adoption across its ecosystem, positioning it as a serious contender among leading Layer-1 blockchain networks globally.
One of the factors that contributes to this positive sentiment on the token is its better token economics. The annual minting of the tokens now stands at 32 million, which represents an annual inflation rate of 2.5%.
With almost all tokens being in circulation and 45.5% being staked, the token supply pressure would be minimal for price action.
Source: Michael van de Poppe’s X Post
Regarding income, NEAR brings in about $50-60 million per year, while a 70% fee burn policy provides extra incentives for deflationary possibilities.
With NEAR’s intents system, additional demands have been created via direct token purchases. Although the average daily volume stands at $77 million currently, NEAR would need to surpass $177 million to achieve deflationary levels.
In comparison with Ethereum and Solana, NEAR has valuation multiples that are lower than theirs, indicating growth potential.
The trading volumes of Intent have risen sharply, and any modest growth will see Intent reach deflationary conditions before 2027. With good market dynamics, it is believed that NEAR will be valued at $7–$10 in one year.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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