NEAR Protocol (NEAR) Eyes a $3 Target After Record 1M TPS and $7B Intents Surge

• NEAR remains stable amidst recent periods of market fluctuations, with ecosystem development and usage of NEAR Intents increasing despite market fluctuations.
• The token is currently holding below the 20-Day MA, and a successful break above $1.95 opens a potential run to $3.
• NEAR marked a significant achievement with 1 million transactions per second in a benchmark test.

NEAR Protocol (NEAR) appears to be establishing a stable position in the wake of a rather volatile period in the overall crypto market. Although it has been facing certain pressures in terms of a temporary lowering of prices, various other development parameters continue to confirm a rather positive stance as a Layer-1 blockchain.

Technical Setup Points Toward a Possible Breakout

On a technical basis, the structure of the chart seems to be getting better. NEAR is forming a consolidation around its present range, which usually precedes a strong break. The price of NEAR is just below its 20-Day Moving Average, and a break above this would be a good indication that a momentum shift has started.

Source: X

Market analysis indicates that now, as soon as NEAR breaks back above $1.95, it would return to its former range and prepare for a move towards $3, which fits with a range-to-range market structure.

The current price of NEAR stands at $1.76, with a market value of $2.25 billion and a 24-hour volume of $210.07 million. The token has lost around 1% of its value over the past 24 hours but has been down 3% in the past week as a result of market uncertainties. However, it has managed to maintain key support levels, which indicates that investor confidence has not weakened.

Source: CoinMarketcap

NEAR Achieves Record 1 Million TPS in Benchmark Test

One of the most important events that occurred this week has been in the performance layer of the protocol. NEAR has marked a significant achievement as it has reached 1 million transactions per second in a test.

This feat of engineering reiterates the network’s extraordinary capabilities for scalability, placing NEAR among the fastest and most efficient Layer-1 blockchains being developed. These features of NEAR not only make it a superior blockchain protocol but also highlight the dedication of its team.

Related Reading : 1 Million TPS on NEAR Protocol: Sharding Unlocks Next-Level Blockchain Scaling

NEAR Intents Hits $7B Milestone as Usage Accelerates

Ecosystem development is also speeding up. The cross-chain engine of the protocol, NEAR Intents, has just broken $7 billion in lifetime volume, which marked a significant milestone. This development indicates that usage of the protocol has started to validate the tech aspirations of the network. The growing use of NEAR Intents further solidifies the position of NEAR as a decentralized application infrastructure layer.

Overall, with a stabilizing price performance, a better technical analysis pattern, a major scalability achievement, and a growing cross-chain adoption, there are many encouraging signs for this protocol.

Related Reading : NEAR’s December Momentum: Bulls Hope for a Solid 2025 Finish