NEAR Protocol Primed for $5 Surge as Bulls Shatter $3.40 Resistance

NEAR Protocol isn't asking for permission—it's taking names. The layer-1 blockchain's token just punched through a critical $3.40 resistance level, setting its sights on a $5 price target that'd make traditional finance traders choke on their spreadsheets.

The breakout playbook

Market structure suggests this isn't just another dead-cat bounce. With the $3.40 ceiling now converted to support, NEAR's chart paints a classic accumulation pattern—the kind that makes technical analysts whisper 'parabolic' behind closed doors.

Greed meets gravity

Let's not pretend this is altruism. The rally coincides with NEAR's ecosystem grants program flooding the zone with developer incentives—because nothing fuels a bull run like subsidized adoption. Still, price action doesn't lie: 47% monthly gains suggest traders are voting with their wallets.

Watch for a close above $3.40 to confirm the breakout. Because in crypto, even 'fundamentals' bow to momentum.

NEAR breakout price action is unfolding amid a wave of bullish developments in the Near Protocol’s ecosystem. Most notably, the community has opened a validator vote to reduce NEAR’s annual token inflation from 5% to 2.5%, designed to incentivize long-term holding and reduce sell pressure.

If the proposal passes with the required majority (66.67%), Core developers will include the new inflation logic in the next protocol upgrade release. The change is expected to be activated in the network by late Q3 2025. This reduction in inflation effectively limits new NEAR token supply, creating a more deflationary environment that can support sustained upward price pressure as demand grows.

Adding to the bullish outlook, Bitwise’s NEAR Staking ETP has recently been listed on Germany’s Xetra exchange, giving global investors exposure to NEAR with integrated staking benefits without needing to manage keys or wallets.