ALLINCRYPTO
Technical Crypto Analyst, Allincrypto YouTube/Podcast Creator
NEAR's tokenomics could tighten further. A new governance proposal would cut annual issuance from 2.5% to 1.6% over two years, a further 36% reduction after inflation was already halved from 5% in 2025. Fewer new tokens alongside growing network revenue can only be bullish for NEAR. x.comÂ
NEAR would skyrocket if it reduced issuance, through simple supply and demand. Per @Airdrops_one, NEAR mints about 90,000 new coins a day at a 2.5% annual issuance rate with no supply cap, while Bitwise ETF creations absorb roughly 31,000 a day, Intents buybacks about 6,000 and gas burn under 1,000. x.comÂ
NEAR's fundamentals are strengthening alongside its price. It generated solid fee revenue in 2025-2026, and Confidential Payments and Confidential Intents are improving privacy and security on the network. After its breakout from a 14-month falling wedge, a break of the $3 resistance would start the next leg up. x.comÂ
NEAR feels like an older, inflationary tech coin that has had its time in the sun, even if the case makes some sense on paper. A post the author replies to describes selling all NEAR and rotating into Zcash and Hyperliquid because conviction in it never grew. x.comÂ
NEAR, Hyperliquid, Uniswap and Pump.fun benefit from the scarcity of quality crypto tokens, which is extremely bullish for the few that are actually good. With few good tokens, selection is easier, fewer positions are needed and more capital flows into the same winners. Per the quoted post, only about 20 projects generate around $50k+ in daily holder revenue. DefiIgnas adds that revenue tokens get less attractive the higher the price goes if revenue doesn't pick up. x.com x.comÂ
NEAR's buyback flywheel is turning: NEAR Intents had its biggest revenue week ever last week, and $500,000 of NEAR was bought back. x.comÂ
NEAR can never be money, so any monetary or privacy premium ascribed to the token will flow to permissionless neutral protocols like Zcash and, to a lesser degree, Monero. NEAR's freezing of funds from the Bitget hack was the right business decision, but it shows that programmability creates governance surface area that is antithetical to money. The NEAR chain made about $150k in 30 days, Intents $1.7M and perps $61k, an insane multiple for something that isn't money. x.com x.com x.comÂ
NEAR should be valued as a well-rounded layer-1 rather than for one use case, since its intents do not generate meaningful revenue and their network effects are relatively weak. Judged that way it is strong, with good governance, technology and economics, and it is time for the good L1s to rise. x.comÂ
NEAR is an AI-native blockchain and a pioneer of chain abstraction, and its run from $1.90 to $4.27 is not done yet. x.comÂ
NEAR is not private, not secure, centralized and not permissionless, as the $3.8 million exploit of NEAR Intents shows. Its popularity is driven by undisclosed paid marketing pushing people to buy a dinosaur coin and a trash chain. x.com x.comÂ
Actual use of NEAR Intents, including private swaps, is a bigger positive sign for NEAR than ETF inflows. BSC News reports $5.22 million into Bitwise's NEAR ETF in the latest week; that is still small money. x.comÂ
