NEAR sees major gains after new governance proposal — Can it stay above $5?

Near Protocol [NEAR] reversed its weekly trend from red to green after gaining by over 11% in 24 hours. Here, it's worth noting that this abrupt spike in price was consistent across the whole crypto sector. In fact, the market added another 2.69% to its capitalization. However, a few factors have been contributing to this double-digit rally. These factors include a Q3 volume report and a new governance proposal, despite outflows in Bitwise's Spot ETF product. Q3 trading volume report and new proposal charges NEAR Bitwise released Q3 reports for NEAR Intents, which showed its volume accelerated from $2.40 billion in July to $4.80 billion in September. In essence, Q3 volume hit $10.41 billion, up by more than 66% Quarter-on-Quarter (QoQ) and 891% Year-on-Year (YoY).

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.