Why NEAR crypto’s 12% rally could extend after Sunrise partnership
NEAR Protocol is attracting renewed attention after its partnership with Sunrise expanded access to Solana markets.
NEAR prices have risen in response to Sunrise and Near Intent’s partnership to establish liquid markets for NEAR Intents assets on Solana, as announced in their recent tweet. Over the last 24 hours alone, the token has gained more than 12%.
Moreover, the partnership could expose NEAR to a broader trading audience by making the token accessible within Solana’s [SOL] ecosystem.
With fresh market access and investment flows supporting the bullish bias, can NEAR extend its bullish run?
How is NEAR market activity reacting to the news?
Notably, the development arrives as trading activity picks up in the Futures market and retail traders increase their participation across the spot markets.
Solana Compass reported approximately $11.4 million in 24-hour trading volume for NEAR on Solana on launch day, alongside about $819K in netflow.
The coin’s derivative data shows that NEAR Intent revenue has skyrocketed to $163K, not been recorded over the past three months. This being just the beginning the token revenue could be key for the token’s anticipated bullish run continuation.
Notably, NEAR ETFs reported $1.13 million in daily inflows, indicating that investors are still allocating capital to NEAR-linked products during the period. Moreover, persistent inflows could support demand, although a single session cannot establish a lasting trend.
Will NEAR crypto’s bullish run prevail?
On the daily chart, the impacts of the development are evident. NEAR’s price action is currently gaining momentum from a key demand zone. The token’s bullish gains are going hand in hand with its trading volume, with its prices now trading above all key EMAs.
All in all, with the partnership and ETF inflow surge, NEAR projected rally continuation could occur. However, traders and investors should be aware of the bearish caution from a potential profit-taking phase among the holders and bulls on floating profits.
Final Summary
- NEAR’s Sunrise partnership opens a new route into Solana markets.
- Reported ETF inflows of $1.13 million and rising trading activity could support the rally if buying pressure persists.
