$NEAR has emerged as the top-performing AI crypto token, surging 24.52% as activity expanded across trading markets and the network's confidential infrastructure.

The confidential total value locked (TVL) recently surpassed $70 million, triggering the network's first milestone snapshot under its incentive program. The program allocated 333,333 milestone tokens, reinforcing participation around the Confidential Intents ecosystem. These tokens are set to remain locked until $NEAR's three-day volume-weighted average price reaches at least $3.33. Because eligibility depends on an average measured across three days rather than a single price print, the three-day VWAP itself becomes the metric to monitor for those tracking unlock eligibility.

$NEAR's price climbed beyond the program's $3.33 threshold during the expansion. However, unlocking eligibility requires the three-day volume-weighted average price to hold at or above $3.33.

Beyond incentives, the protocol's Confidential Intents supported private execution across more than 30 connected blockchains. $NEAR has also linked Intents with autonomous-agent infrastructure for asset transfers and cross-chain payments. The token's AI utility widened further through staking-based computing credits covering 43 AI models. Together, private execution, agent-linked payments, and AI compute access form the utility backdrop against which the token's rally unfolded.

Meanwhile, spot volume surged 131.81% to $1.63 billion, pointing to broader market participation behind the recent price increase.

Whale orders deepen spot demand

Large market participants strengthened $NEAR's demand picture as the price accelerated. CryptoQuant's Spot Average Order Size registered Big Whale Orders, indicating larger transactions on the spot market.

At the same time, the 90-day Spot Taker CVD remained Taker Buy Dominant, a reading that indicated aggressive buyers controlled executed spot activity during the rally.

Whale-sized orders alone did not prove accumulation. The Taker Buy Dominant reading offered stronger evidence that active demand accompanied those trades. Together, the two signals gave $NEAR's move firmer spot-market support.

Leverage builds behind the rally

$NEAR's derivatives market expanded sharply as traders increased exposure. Open Interest — the total value of outstanding derivative contracts — rose 39.54% to $924.66 million, while Derivatives Volume surged 101.79% to $1.85 billion.

The expansion could support continuation while buyers defend the breakout. However, elevated leverage also raises liquidation risk if $NEAR reverses sharply.

Crucially, spot buying and Big Whale Orders accompanied the derivatives expansion. Leverage therefore amplified identifiable demand rather than carrying the rally on its own.

Can $NEAR reach $4?

During its uptrend, $NEAR broke decisively above the $2.820 level, extending its recovery beyond a resistance zone that had previously rejected further price advances.

The price subsequently reached $3.461, bringing the higher-timeframe Fair Value Gap (FVG) into immediate focus. The imbalance stretches approximately between $3.65 and $4.20, placing $4.00 inside the target region.

Directional strength intensified substantially during the breakout, with the ADX — a gauge of trend strength — reaching 55.6278, while +DI at 50.3812 overwhelmed -DI at 4.1701, the pair of indicators that track upward versus downward directional pressure. The Parabolic SAR, at $2.297, remained below the prevailing market price, reinforcing the development of a bullish technical structure.

As a result, $NEAR could extend deeper into the FVG if bulls maintain control above the $2.820 zone. Alternatively, a rejection from the imbalance could send the price back toward the breakout zone before another recovery attempt.

Summary

$NEAR's 24.52% surge gained support from whale orders and aggressive spot buying. Its breakout into the higher-timeframe FVG could shift attention toward the $4 region, while unlock eligibility remains tied to the three-day VWAP holding at or above $3.33.