NEAR Price Rally Continues as ETF Inflows Reach $13.2M

• NEAR rose about 86% from Sept. 16 to 29 as coin-denominated open interest fell from 215M to 169M tokens.
• Bitwise’s NEAR ETF recorded $13.2M in second-day net inflows, bringing assets under management to $52.8M.
• NEAR tested 5.50–5.60 resistance after rallying from below $2, while momentum indicators remained positive.

NEAR climbed approximately 86% between September 16 and September 29 as the Bitwise NEAR ETF began trading on NYSE Arca. However, Santiment Intelligence reported that coin-denominated open interest had already declined 21% before the launch. The ETF recorded $35.5 million in first-day net inflows, while spot buying emerged amid reduced leverage.

ETF Trading Begins as Leverage Declines

According to Santiment Intelligence, its analyst identified steadily rising NEAR open interest on September 21, eight days before the ETF launch. Coin-denominated open interest peaked at approximately 215 million NEAR that day. However, dollar-denominated open interest continued climbing, reaching roughly $1.05 billion on September 27.

By then, coin-denominated open interest had already fallen around 9% from its peak. On September 29, when the Bitwise NEAR ETF began trading, open interest had dropped to approximately 169 million NEAR. That figure was slightly below its September 16 level.

https://twitter.com/Bitwise/status/2105438161132290175?s=20

Despite the decline in leverage, NEAR's price rose around 86% between September 16 and September 29. Santiment reported that spot buyers entered the market on launch day, when leverage was already lighter.

Bitwise Reports Strong ETF Activity on Day Two

Bitwise reported $35.5 million in first-day net inflows for its NEAR ETF, which trades under the ticker NRR on NYSE Arca. The company later released its second-day trading figures, reporting $13.2 million in net inflows and $20.1 million in volume. The ETF's assets under management reached $52.8 million.

Meanwhile, analyst Michael van de Poppe reported that NEAR had broken upward again. He said the token was moving toward a new high, as its price continued recovering following the recent pullback.

https://twitter.com/CryptoMichNL/status/2105261551703728539?s=20

NEAR Tests $5.60 Resistance After Sharp Rally

NEAR traded at $5.307 on the four-hour chart, following a rally from approximately 1.80–2.00 in late August. The strongest advance began after September 16, when the price cleared $2.50 before moving above $3, $4, and $5.

Source: TradingView

NEAR recently reached 5.50–5.60 before retreating toward 4.65–4.75 and recovering. The latest candle opened at $5.392, reached $5.540, and fell to $5.294, closing at $5.307, down 1.56%.

Trading volume stood at approximately 6.11 million NEAR, below earlier breakout spikes. The RSI measured 60.11 against its 55.21 average, while MACD stood at 0.125, above its 0.094 signal line. The histogram remained positive at 0.030.