NEAR Protocol (NEAR) has experienced a significant weekly price rally, with gains reaching as high as 58% over a seven-day period as of May 25, 2026. The surge pushed the token to a six-month high, hitting a peak of $2.54 on Sunday, May 25. This momentum follows an endorsement from Arthur Hayes, the co-founder of BitMEX and current Chief Investment Officer of Maelstrom, who publicly declared NEAR alongside Hyperliquid (HYPE) and Zcash (ZEC) as his “holy trinity” of altcoins.
The rally began in earnest on May 17, when the token was trading at a low of $1.47, eventually climbing 44.66% from that floor. While mid-cap tokens face selling wave pressures in other sectors, NEAR saw an aggressive 30% spike on May 22 directly following Hayes’ declaration. This price action triggered a short squeeze, liquidating millions in short positions as the token rocketed above $2.30. By May 25, the daily trading volume was recorded at approximately $782 million, down from a May 23 peak of $1.15 billion—a day that saw a 190% jump in 24-hour volume.
Market data also indicates a significant rise in trader participation, with open interest for the asset increasing by 51.15% according to figures from Coinalyze. This surge in interest comes as sharp correction risk has plagued larger assets, allowing NEAR’s specific narrative around decentralized artificial intelligence (AI) to take center stage. The protocol is currently positioning itself as a “blockchain for AI,” hosting an AI Agent Market and a confidential GPU marketplace.
Upcoming protocol upgrades and technical developments
The bullish sentiment is further supported by the upcoming v2.13 network upgrade, which the NEAR Foundation has scheduled for June 2026. This technical milestone is expected to introduce dynamic resharding, allowing the network to adjust its scale automatically based on usage demands. It also integrates post-quantum cryptographic features to enhance long-term security. These updates follow the February 2026 activation of a fee conversion mechanism, which routes fees from “NEAR Intents” into market purchases of the native token.
Institutional interest and exchange-traded product growth
Institutional investors have begun to move into the ecosystem, evidenced by strong inflows into Bitwise’s NEAR Staking ETP recently. A major focus for the market is Grayscale’s ongoing effort to expand its product line. Grayscale filed in January 2026 to convert its existing NEAR Trust into a spot ETF under the ticker GSNR. If approved, this move significantly lowers the barrier for traditional capital to gain exposure to the protocol’s price action.
This institutional shift occurs as the crypto market window closes on projects that lack clear functional roadmaps. By the peak of the rally on May 25, NEAR’s market capitalization was estimated at $3.29 billion, maintaining its position within the top 30 largest cryptocurrency assets by size. The project’s recent performance has also been buoyed by positive sentiment in the traditional tech sector, particularly regarding Nvidia’s revenue outlook, which often acts as a barometer for AI-linked digital assets.
Monitoring price stability and technical support levels
Despite the aggressive gains, the token found some resistance at the top of its range, stabilizing between $2.22 and $2.24 on May 25 before fluctuating toward the $2.39 to $2.40 range at press time. Traders are closely watching the $1.89 level, which represents a previous swing high that the token must now defend as a support floor. Maintaining this level is considered critical by analysts for sustaining the current upward trajectory.
As of May 25, the asset showed a 69% gain over the past month and a cumulative 90-day gain of approximately 115%. While the “holy trinity” endorsement provided the initial spark, the sustainability of these gains will likely depend on the successful deployment of the June resharding upgrade. For now, the combination of technical scarcity from the fee conversion and high-profile backing has established NEAR as one of the standout performers in the current altcoin market.