NEAR Protocol (NEAR) is showing signs of a potential long-term reversal as buyers defend key support. Rising derivatives activity signals stronger market participation, while NEAR Intents continues expanding ecosystem activity. Proposed revenue-based staking changes could gradually reduce token dilution while supporting network security and strengthening NEAR’s long-term fundamentals.
NEAR Price Chart Shows Potential W Pattern
NEAR is attracting attention as its weekly chart appears to be developing a potential long-term W pattern. According to the crypto analyst Giannis Andreou, the token has tested the $1 support area twice, once in 2023 and again in 2026.
Buyers defended the region during both periods, creating a notable base for a possible broader recovery structure.
Source: Giannis Andreou’s X Post
The formation remains unconfirmed, with the key technical hurdle positioned between $7 and $9. According to the analyst’s setup, reclaiming this zone could provide stronger confirmation of the W pattern.
If that breakout develops, NEAR could potentially target levels near its 2021 highs around $20 or higher.
Also Read: NEAR Protocol Sees Positive $70M TVL Growth Surge in 2026
Derivatives Activity Strengthens Across NEAR
Derivatives data shows that market participation around NEAR has increased significantly alongside the developing technical setup.
According to CoinGlass data, NEAR’s derivatives trading volume surged 114.43% to $2.47 billion, while open interest climbed 38.79% to $1.04 billion, highlighting substantially stronger trading activity.
Source: Coinglass
The simultaneous increase in volume and open interest suggests traders are opening more positions as NEAR approaches potentially important price levels.
However, these metrics do not determine whether positioning is predominantly bullish or bearish. Instead, they indicate greater market participation and suggest the token could experience stronger volatility around its next breakout or rejection.
NEAR Intents Reaches $28+ Billion
Fundamental developments within the NEAR ecosystem also provide additional context for the token’s market outlook. NEAR Intents has surpassed $28 billion in cumulative volume across chains, demonstrating significant activity through its cross-chain infrastructure.
The platform enables one-click cross-chain swaps, unified liquidity, and universal execution for on-chain markets.
This practice will likely become more relevant for NEAR as they consider modifying their token economics. The proposed solution will aim at reducing dilution without affecting the incentive structure of the validators and security of the network.
Ultimately, the goal will be to transition from rewarding stakers using new tokens to rewarding them through network income.
Revenue Model Could Reduce Dilution
The proposal recommends that protocol revenue may serve as an alternative source of earnings along with staking rewards even prior to emission reduction.
The revenue will be calculated over 12 months, taking into account the worst-case scenario. The two-fold safety margin will cap the emissions available for reduction.
The framework also suggests the evaluation of revenue in NEAR units rather than the United States dollars only. That will help understand what can be purchased with that amount of NEAR from the network’s protocol revenue.
Utilizing the lowest monthly performance figure aims at ensuring a conservative estimation of the potential for sustainable revenue generation.
Security Remains the Main Constraint
This system would not necessarily lower emissions simply based on an increase in revenue from the protocol.
Factors such as validator activity, stake distribution, validator distribution, profitability, and others would also need to be taken into account. The current rewards could still be needed if the network conditions call for it despite increased revenue.
After each time frame, the system enters a new 12-month measurement period to calculate the economics of the new network.
In essence, this is a repeating structure where the income of the network decides how much issuance can be replaced, whereas network security considerations decide if the reduction should happen. This could work for NEAR.
What Happens Next for NEAR?
The next course of action from NEAR will rely on how buyers defend the $1 level and try to recover back towards the resistance area of $7-$9.
However, depending on a breakout or breakdown scenario, the W setup may be reinforced. Other things to note will include the derivatives trading volume, NEAR Intents, and the revenue staking proposal.
Also Read: NEAR Price Eyes Recovery Toward $5.7 as NEAR Intents Tops $30B Volume
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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