NEAR Protocol (NEAR) surged 4.5% in the last 24 hours to trade at $2.31, bouncing back after weeks of sideways action. The rally followed a major institutional move by Nasdaq-listed OceanPal, which announced plans to invest $120 million into NEAR’s ecosystem, sparking renewed optimism among traders and investors.
OceanPal Backs NEAR With $120 Million Investment
Shipping firm OceanPal Inc. has entered the digital asset arena with a bold strategy to diversify its corporate treasury. The company said it plans to acquire up to 10% of NEAR’s total token supply, amounting to about 127.8 million tokens, in a move worth $120 million.
This step places OceanPal among the growing list of publicly traded companies adopting crypto assets as part of their long-term balance sheet strategy. Such large-scale acquisition could tighten NEAR’s circulating supply, potentially fueling scarcity and long-term value appreciation.
The investment also marks a shift beyond traditional players like Bitcoin and Ethereum toward next-generation, AI-aligned Layer-1 networks. Market analysts see this as a sign that institutional demand is broadening across the blockchain spectrum.
Institutional Entry Brings Legitimacy to NEAR
The entry of a Nasdaq-listed company into NEAR’s ecosystem has added a layer of credibility that could attract other institutions. Institutional capital often acts as a stabilizing force in volatile markets, giving traders confidence that the token’s floor price may rise over time.
Some analysts believe this could start a trend similar to Bitcoin’s corporate treasury era, where firms began adopting BTC as a hedge against inflation and a diversification tool. In NEAR’s case, the interest ties into its focus on scalable infrastructure and AI-driven innovation, making it an appealing choice for technology-focused portfolios.
Industry watchers suggest that this move may also inspire other corporations to explore emerging blockchain ecosystems with real-world use cases rather than sticking only to legacy crypto assets.
NEAR Validator Vote Signals Tokenomics Shift
Alongside the OceanPal announcement, NEAR’s internal governance community is considering a major economic change. Validators are currently voting on a proposal to cut annual inflation from 5% to 2.5%, effectively halving new token issuance.
As of October 28, 68% of validators had approved the proposal, falling just short of the 80% threshold needed for implementation. If passed, the measure would reduce staking rewards but also lessen sell pressure from validators, potentially strengthening NEAR’s long-term value dynamics.
This kind of policy shift mirrors moves by other Layer-1 networks that have sought to tighten token supply and improve sustainability. Supporters argue it will make NEAR’s tokenomics more attractive to both retail and institutional investors seeking lower inflation and stronger capital retention.
| Proposal Element | Current Rate | Proposed Rate | Status (as of Oct 28) |
|---|---|---|---|
| Inflation Rate | 5% | 2.5% | 68% Validator Approval |
| Required Approval | – | 80% | Pending Final Vote |
If the proposal succeeds, NEAR could join the ranks of deflationary or near-deflationary digital assets, further boosting its appeal in a market increasingly focused on scarcity and efficiency.
Technical Charts Show Bullish Momentum
From a technical standpoint, NEAR’s price action has been stabilizing after holding strong support between $2.20 and $2.25. Traders now eye the $2.50 resistance zone, a key level that, if broken, could signal a broader bullish continuation.
Prominent market analysts, including Sjuul and AltcoinSherpa, highlighted that NEAR’s recent resilience could position it as a medium-term accumulation play rather than a quick trade. AltcoinSherpa noted that NEAR’s “narrative flip” toward AI and infrastructure could strengthen its relevance during the next market cycle.
If bulls manage to reclaim $2.49 — the 50% Fibonacci retracement level — analysts expect prices to advance toward $2.65 to $2.75 in the near term. However, a decisive break below $2.20 may reverse momentum and expose NEAR to potential declines toward $2.05.
Key support: $2.20
Immediate resistance: $2.50
Target range on breakout: $2.65–$2.75
Growing Interest in AI-Aligned Blockchains
NEAR’s growing association with artificial intelligence has added another layer to its investment narrative. The protocol’s infrastructure supports AI-integrated decentralized applications, which could position it as a bridge between Web3 and AI ecosystems — a theme gaining strong traction among investors.
The OceanPal investment also underscores a larger movement where institutional and corporate entities are looking beyond pure cryptocurrency speculation toward strategic technological ecosystems. Analysts point out that this dynamic could mirror the early adoption stages of major blockchains that eventually became industry standards.
NEAR’s developers continue to focus on usability, faster transactions, and interoperability — traits that could help it capture more developer and enterprise attention as the digital economy evolves.
The combination of OceanPal’s $120 million investment and NEAR’s potential inflation cut has sparked a wave of optimism across the crypto market. The price surge reflects renewed confidence in the network’s fundamentals and growing recognition of its role in the evolving blockchain landscape. Whether NEAR can sustain this momentum will depend on the validator vote outcome and the broader sentiment in the crypto sector.
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