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NEAR price traded near $4.50 on Sept. 26 after extending its September rally. CoinMarketCap showed the token up about 3.5% over 24 hours and roughly 145% over 30 days. Its market capitalization stood near $5.88 billion.
The move came as derivatives positioning expanded and Bitwise advanced its U.S. NEAR exchange-traded fund. NYSE Arca approved the Bitwise NEAR ETF shares for listing under ticker NRR. The fund would provide direct NEAR exposure while also seeking staking rewards.
NEAR Price Rally Reaches About 145% in One Month
Similar to what we saw with ZCash, the NEAR Protocol has delivered a stellar 178% rally over the past month. The NEAR price surged all the way from the lows of $1.82 to now trading above $5.
Market experts have shared some mixed opinions regarding what’s coming ahead. While some believe that the NEAR Protocol rally is just getting started, others think that some pullback will happen before the next leg of the rally resumes.
In his latest NEAR price prediction, analyst Crypto Patel shared that the altcoin has already gained 432% over the past seven months. He added that the previous resistance level is now acting as support.
The analyst identified $8, $15 and $20 as the next potential targets for NEAR. However, he cautioned that investors should consider booking partial profits along the way to protect gains following the significant price increase.
On the other hand, crypto analyst Michael van de Poppe said NEAR has shown strong price action after moving above $5. However, he said that one should wait before building another long position.
Poppe said the strong narrative and momentum could be followed by a market correction. Thus, he expects some pullback in NEAR price before the next leg of bull run begins.
For shorter-term traders, he said NEAR could offer opportunities because the asset has been consistently testing clear support and resistance levels.
NEAR Protocol Follows ZCash Footsteps
As said, the NEAR price upside has been quite similar to the mega ZCash rally and is the second major entrant in the privacy coin narrative. Data from Santiment shows that ZCash is leading the space, followed by NEAR.
NEAR price gained 81% between September 13 and September 20, around the September 17 launch of confidential perpetuals. During the same period, dollar-denominated open interest increased 119%, while open interest measured in NEAR rose 21%.
Moreover, the NEAR Protocol funding rate reached 1.6 times its two-month median on September 20, with similar spikes seen throughout the week.
Bitwise NEAR ETF Makes Way to NYSE Arca
Bitwise’s NEAR ETF has been approved for listing and trading on NYSE Arca under the ticker NRR. This will be the first NEAR ETF to trade in the US market.
NYSE Arca approved Bitwise’s application to list and trade the ETF shares, while the fund’s S-1 registration statement has become effective under Section 12(b) of the Exchange Act. The ETF is expected to launch soon.
The development comes just as Bitwise’s NEAR Staking ETP crossed $100 million in assets under management. Listed on Deutsche Börse Xetra in July 2025, the product stakes its NEAR holdings and targets net staking returns of around 5.5%.
This article is for informational purposes only and does not constitute financial or investment advice. Analyst targets and derivatives data do not guarantee future price performance.
