NEAR Protocol's token gained 83% over four weeks through Oct. 9, 2026, ahead of bitcoin and ether. The rally overlaps with a draft proposal to cut maximum annual issuance, and the period also spans a security incident at NEAR Intents.
NEAR's token rose from $2.57 to $4.71 between Sept. 11 and Oct. 9, according to The Defiant's calculations using CoinGecko prices. Over the same 28-day window, bitcoin gained 6.6%, while ether fell 3.1%.
The advance was uneven, however. NEAR topped $5.30 on Oct. 8 before retreating, and the token fell 1.5% over Oct. 2–9.
A spot ETF and cross-chain volume
Crypto Briefing points to two catalysts. The Bitwise NRR, the first US spot NEAR ETF, launched on September 29, 2026, and it pulled in nearly $58 million during its first week.
NEAR Intents, the network's cross-chain trading system, is the second driver, Crypto Briefing reports. Its cumulative volume has passed somewhere in the range of $31-33 billion across more than 30 chains.
Lower issuance, lower rewards
The rally overlaps with a debate over how much new NEAR the network should create. An Oct. 7 draft proposal would lower maximum annual issuance from 2.5% to 1.6% gradually over 24 months, retaining the 90/10 split between staking participants and the treasury.
The trade-off for holders is less dilution but fewer newly issued tokens paid as staking rewards. The draft acknowledges that lower yields could reduce staking participation and that some validators would lose revenue.
Much of the price advance preceded the proposal. NEAR had already reached about $4.63 on Sept. 23, before the plan's author outlined it on Sept. 30.
Intents incident and next steps
The four-week move also spans a security incident at NEAR Intents. The protocol reported an approximately $3.8 million loss on Oct. 1, and its general manager said the next day that the funds had been returned in full.
The issuance plan would require House of Stake ratification and separate adoption by validators through a network upgrade. It calls for a 90-day grace period before the first reduction.
Sources: The Defiant, Crypto Briefing
Trading involves risk.
Risk Disclaimer
