NEAR enters crypto’s top 20 after 140% surge in 30 days

NEAR climbed into the top 20 cryptocurrencies by market capitalization, as NEAR Intents surpassed $31 billion in cumulative transaction volume.

NEAR Protocol’s native token entered the top 20 cryptocurrencies by market capitalization on Thursday after rising $138% in the last 30 days, according to CoinGecko .

At the time of writing, NEAR traded around $5.51, up about 7% over 24 hours, with a market cap of about $7.2 billion and 24-hour trading volume reaching roughly $1.2 billion. NEAR ranks ahead of Stellar (XLM), which has a market cap of nearly $7 billion.

NEAR Intents, a cross-chain trading protocol, has handled over $31 billion in cumulative transaction volume, according to the NEAR Intents Explorer.

NEAR’s rise in the rankings also follows the Sept. 29 launch of the first US spot exchange-traded product tracking the token. The Bitwise fund trades on NYSE Arca under the ticker NRR, offering investors exposure to NEAR without directly holding the crypto.

NEAR Intents suffered a $3.8 million exploit involving its deposit and withdrawal infrastructure last week. On Oct. 2, General Manager Alex Shevchenko said that all stolen funds had been returned, a day after the breach was disclosed.