NEAR price surges on cross-chain product activity

The NEAR token experienced a significant 15% price increase, extending a month-long rally that has nearly doubled its value. This surge is largely attributed to the success of NEAR Intents, a cross-chain transaction system that has processed over $19 billion in volume and generated $32 million in fees. Investors are also anticipating a network upgrade in June focused on dynamic resharding to enhance scalability. Despite the recent gains, NEAR's price remains considerably below its previous peak, though institutional interest is growing, evidenced by inflows into a European staking ETP.