Micro2Macr0
Macro Economist
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.com
NEAR Protocol is not cheap today but is growing much faster than other revenue-earning tokens, with no unlock overhang. NEAR Intents revenue rose 150% versus the prior 30 days, against 23% for Hyperliquid and 3% for Pump. Intents volume is about $4.5B a month, up 77%, and private TVL is up about 378% in 90 days. A Bitwise ETF went live September 24, and NEAR is built for AI agents. $100 within 2 years is possible if momentum holds. x.com x.com
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.com
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.com
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.com
NEAR's intents volume keeps compounding, reaching $23.5 billion all time, and the token buyback turns those fees into direct buying pressure, a deflationary flywheel. x.com
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.com
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.com
Zcash and Hyperliquid could face less selling pressure because they have newer, stronger narratives than NEAR and fewer holders waiting to sell at breakeven. Their appeal this cycle rests on narrative and hype; they look like this cycle's Ether and Solana. x.com x.com x.com
NEAR's push may be fuelled by upgrade 2.13 on testnet, which adds post-quantum safe access keys using the NIST-approved FIPS 204 signature scheme. It also brings dynamic resharding, letting the network scale automatically as demand grows without governance upgrades. Don't bet against NEAR. x.com x.com
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.com
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.com
