NEAR Protocol's token soars 28% as Bitcoin investors pivot to altcoins
NEAR Protocol’s native token has surged in value, climbing 28% in just 24 hours. The rally comes as investors shift funds from Bitcoin into major altcoins. Meanwhile, the project has unveiled new upgrades, including privacy-focused tools and future scalability improvements. The token’s sharp rise follows Bitcoin’s pullback from nearly $82,000 to around $77,000 over the past week. As capital rotates into alternative cryptocurrencies, NEAR has emerged as a top performer, with its weekly gains approaching 45%.
On the development side, NEAR AI introduced automatic anonymisation for personal data in prompts sent to closed AI models. The team also launched Confidential Treasuries, a product enabling private on-chain multisig transactions and cross-chain payments.
Looking ahead, NEAR Protocol plans to implement dynamic resharding in June 2026. This upgrade will allow the network to scale to over 70 shards, significantly boosting capacity. Co-founder Illia Polosukhin has been highlighting these improvements, linking them to the concept of an 'agentic market'—where autonomous systems interact more efficiently.
Despite the optimism, prediction markets like Myriad suggest caution. Traders there currently assign only a 12% probability to a broader altcoin season beginning by July. NEAR’s recent price jump reflects both market trends and technical progress. With privacy tools now live and scalability upgrades on the horizon, the protocol continues to expand its capabilities. The token’s performance will likely depend on broader altcoin sentiment and the success of its upcoming features.
