NEAR fluctuated 20.3% within 24 hours to $2.044: Driven by AI privacy upgrade and record high number of holders

Volatility Overview

In the past 24 hours, NEAR price surged rapidly from a low of $1.703 to a high of $2.048, currently trading at $2.044, with a fluctuation of 20.3%. During this period, there was a significant inflow of leveraged long funds, with Open Interest increasing by about 20% to $300 million compared to the previous day, including $60 million in new long positions.

Brief Analysis of the Cause of the Movement

This movement was mainly driven by several verifiable events announced on May 20:

- NEAR AI launched a framework-level privacy upgrade that automatically strips sensitive data (PII) from user prompts, reducing developers' data leakage risk and enhancing AI application security.

- CoW Swap went live on Solana via the NEAR Intents backend, further expanding the utility of cross-chain intent trading.

- On-chain data shows the number of unique holders reached an all-time high, combined with a surge in leveraged long positions, forming a short-term capital-driven rally.

All of the above are publicly verifiable official and on-chain facts within the past 24 hours, requiring no additional speculation.

Market View and Outlook

The predominant sentiment among the community and analysts is optimistic, believing that NEAR is consolidating the "AI infrastructure" narrative through its AI agent, chain abstraction, and privacy features. Discussions on X highlight that "NEAR Intents + privacy upgrade" may become the next phase catalyst. Some opinions suggest paying attention to short-term profit-taking risks, but overall, NEAR is seen as having long-term growth potential in the AI-Web3 intersection.