NEAR Protocol (NEAR) Rallies 50% After Arthur Hayes Names It Part of Crypto's 'Holy Trinity'

TLDR

Table of Contents

NEAR’s value jumped 50% over a seven-day period, reaching a six-month peak of $2.34.
BitMEX co-founder Arthur Hayes labeled NEAR as one-third of the “holy trinity” in altcoins, sparking retail momentum.
Strong capital flows into Bitwise’s NEAR exchange-traded product indicate rising institutional appetite.
The protocol unveiled significant technical enhancements focused on artificial intelligence, privacy features, and dynamic resharding.
Chart patterns suggest a breakout from a long-term falling wedge formation, with analysts eyeing $5.75 as a possible target.

NEAR Protocol experienced remarkable momentum this past week. The digital asset rallied 50% across seven trading days, touching a six-month peak at $2.34 last Friday. The final 24-hour stretch alone delivered a 34% price increase, while trading volumes exploded 190% to reach $1.15 billion during the same timeframe—clear evidence of aggressive buying pressure.

The sharp upward movement resulted in more than $9.85 million worth of short positions being liquidated, inflicting losses on traders who had taken bearish positions.

A major catalyst arrived courtesy of well-known crypto investor Arthur Hayes. The former BitMEX executive publicly identified NEAR alongside HYPE and ZEC as forming the “holy trinity” within the altcoin space. According to Coin Bureau’s analysis posted on X, Hayes’ statement alone catalyzed approximately 30% of NEAR’s gains.

🚨ARTHUR HAYES PUSHES $NEAR UP 30%
NEAR protocol surged 30% after BitMEX co-founder Arthur Hayes called it part of the “holy trinity” of altcoins.
The token traded near $2.23 as traders reacted to one of crypto’s loudest voices backing the move. pic.twitter.com/872E13tj64
— Coin Bureau (@coinbureau) May 22, 2026

With Hayes commanding one of the largest followings in cryptocurrency circles, his endorsement rapidly channeled retail capital toward the token.

Institutional and On-Chain Demand

The rally extends beyond social media buzz. Bitwise disclosed substantial capital inflows into its NEAR-focused exchange-traded product, suggesting institutional players are accumulating positions. Meanwhile, on-chain researcher and former NEAR team member Vadim Zacodil pointed to the protocol’s buyback programs as providing underlying price support.

NEAR co-founder Illia Polosukhin’s expertise in artificial intelligence has positioned the network favorably amid the current surge in AI-themed tokens. Comparable projects such as Grass, OpenServe, and Artificial Superintelligence Alliance (FET) recorded double-digit percentage gains within the same 24-hour window.

The combined market capitalization of AI and big data cryptocurrency tokens expanded 8% to $21.44 billion in a single day, reflecting sector-wide capital rotation.

Upcoming Upgrades and Technical Outlook

Nvidia’s impressive Q1 2026 financial results—delivering approximately $81.6 billion in revenue while projecting its 2027 trajectory toward $1 trillion—provided additional momentum to AI-associated tokens. Historical data shows NEAR’s price sensitivity to Nvidia earnings announcements, including a 58% surge in February after the chip maker’s Q4 2025 report.

NEAR has substantial technical improvements scheduled ahead. A June protocol upgrade will expand network throughput using dynamic resharding architecture. The project is simultaneously advancing privacy capabilities and confidential transaction systems—addressing what Ethereum’s Vitalik Buterin has identified as blockchain’s most significant outstanding challenge.

MN Capital’s founder Michael van de Poppe highlighted on X that NEAR displays “one of the most bullish charts” currently available. He identified immediate resistance levels at $2 and $2.25–$2.50, with subsequent upside targets around $2.75. Successfully clearing the $2.60–$3.00 supply region could establish a trajectory toward the technical wedge projection of $5.75.

One of the most bullish charts in the ecosystem: $NEAR.
Resilient despite the recent correction on the markets, price already rallies towards new highs.
As long as this stays above $1.40, I would assume that there's continuation on the board.
I remain to be expecting a $2.00… pic.twitter.com/mFzn0L8ZkV
— Michaël van de Poppe (@CryptoMichNL) May 19, 2026

BitMEX Research Analyst Shang Wu observed earlier this month that NEAR’s valuation sits near 56x annualized fee generation, representing a discount relative to comparable Layer 1 blockchain networks.

As of Friday’s close, NEAR commanded a market capitalization approaching $3 billion, marking a monthly increase exceeding 50%.