TL;DR
- NEAR Protocol (NEAR) rose 5.09% in the past 24 hours, closing at $2.27, showing resilience despite intraday volatility.
- Grayscale added NEAR to its Decentralized AI Fund, assigning it a 28.41% portfolio weight, just below Bittensor’s 29.10%.
- Strong institutional interest and volume-based momentum are fueling speculation of a broader altcoin season if Bitcoin (BTC) maintains recent gains.
Grayscale Adds NEAR: Institutional Support Boosts Momentum
NEAR Protocol gained 5% during a turbulent 24-hour session ending July 9 at 3:00 PM ET, closing at $2.27, outperforming most altcoins amid widespread market uncertainty.
The rally closely follows the announcement that Grayscale added NEAR to its Decentralized AI Fund during its quarterly rebalancing. The token now comprises 28.41% of the fund, just behind Bittensor (TAO) at 29.10%, signaling growing institutional confidence in NEAR’s utility in decentralized AI infrastructure.
NEAR/USD Trading Metrics (CoinDesk Data)
| Metric | Detail |
| Opening Price | $2.16 |
| Closing Price | $2.27 |
| Daily Price Change | 0.0509 |
| Intraday Low / High | $2.15 / $2.29 |
| Grayscale Fund Weight | 28.41% |
| Trading Volume Spike | 4.16M units |
| 24h Avg Volume Comparison | 1.87M units |
| Key Resistance Level | $2.24 |
| Key Support Level | $2.21 |
Technical Analysis: Late-Session Momentum Supports Bullish Thesis
NEAR opened at $2.16, dipped to $2.15, then rallied to close at $2.27, with volatility driven by elevated institutional interest and volume spikes. A 4.16 million token surge at 5:00 PM pushed NEAR from $2.18 to $2.23, crossing the $2.24 resistance zone before consolidating slightly lower.
Volume resistance held firm at $2.24, while support was confirmed at $2.21, indicating potential for further upward movement if buy pressure continues.
A sharp dip to $2.25 at 2:36 PM was reversed within 20 minutes, followed by a 1.20% rebound in the final 30 minutes, suggesting momentum from speculative buyers and funds tracking the Grayscale rebalance.
Grayscale’s Allocation Signals a Broader Altcoin Rotation
Grayscale’s latest rebalance, which significantly increased NEAR’s weight in its AI-themed fund, sends a strong bullish signal for institutional appetite toward decentralized compute infrastructure.
The allocation shift comes as competitors like Ocean Protocol and Render (RNDR) also see inflows amid growing interest in blockchain-integrated AI tools.
Market Outlook: Is an Altcoin Season Ahead?
Altcoin markets have shown early signs of revival, as analysts note the conditions for a potential “altcoin season” may align if Bitcoin (BTC) breaks above all-time highs and consolidates. This would typically prompt capital rotation into high-beta assets like NEAR.
According to CoinGecko data, NEAR is currently among the top 30 cryptocurrencies by market cap and has outpaced its peers in the last 24-hour performance window.
Final Thoughts
Grayscale’s endorsement of NEAR through its Decentralized AI Fund places the protocol in an increasingly elite class of altcoins that are seen as core infrastructure for the future of AI + blockchain convergence. Continued volume growth and technical strength could set up NEAR for additional gains in the short to mid-term.
