NEAR fluctuated by 20.2% in 24 hours: AI narrative and June dynamic re-sharding upgrade drive short-term surge

Volatility Overview

The price of NEAR surged rapidly from a low of $2.012 to a high of $2.418 in the past 24 hours, currently trading at $2.413, with a range of 20.2%. Trading volume expanded significantly, with multi-day data indicating single-day turnover exceeding $1 billion, accompanied by a large number of derivatives short positions being liquidated.

Brief Analysis of Abnormal Movement Reasons

- AI narrative as a catalyst: The NVIDIA earnings report exceeded expectations (released on May 20), sparking rotation in the AI sector. NEAR, positioned as a "native AI" Layer-1, attracted capital attention, fueling several days of cumulative gains and accelerating on May 22-23.

- Network upgrade expectations: Official news on May 22 confirmed the June v2.13 network upgrade will introduce Dynamic Resharding, enabling automatic scaling to accommodate future AI agent high-volume scenarios, directly boosting market sentiment.

- Institutional and tokenomics support: Bitwise ETP inflows reached $36 million; Intents fee switch activated, enabling automatic NEAR token buybacks; governance proposal by the end of 2025 will lower the maximum annual inflation rate from 5% to 2.5%, reducing sell pressures.

- Technical short squeeze: Price breakout above key resistance triggered large-scale short covering, with daily short liquidations amounting to several million dollars, creating a positive feedback rally.

The above are all verifiable public news and market data drivers in the past 24 hours, mainly concentrated on the double catalyst of AI narrative and upgrade compounded by leverage effect.

Market Opinions and Outlook

The majority sentiment among the community and analysts is optimistic, considering NEAR's positioning in AI infrastructure and chain abstraction as validated, with strong short-term momentum. However, the 4-hour RSI has entered overbought territory (around 88), indicating a risk of short-term profit-taking. Some views emphasize the support range of $2.00-2.05—if this holds, upside can continue; sustained institutional inflows and improvement in real adoption indicators (TVL, developer activity) provide medium to long-term support, but macro risks and sector rotations could introduce volatility.