Is $8 Next for Near Protocol? $NEAR Up 265.4% In A Year

High-tech and super-scalable blockchain protocol Near Protocol ($NEAR), which many view as one of the best blockchain protocols to ride the ongoing AI boom, is currently probing $7, up more than 70% on the month and over 260% since this time last year.

Investors are anticipating that a new golden age for cryptocurrency markets will begin when pro-crypto US President-elect Donald Trump arrives in the White House in mid-January, and when the next Congressional session begins in early January.

The Republicans secured a majority in both houses and are expected to pass pro-crypto legislation in 2025.

So far, it’s been Bitcoin to lead the market high since Trump’s election triumph, hitting record highs near $100,000. The largest crypto has seen massive ETF inflows in recent weeks.

Most altcoins, including $NEAR, have also performed well this month, but remain substantially below their yearly and record highs.

But a new alt-season is brewing, and investors are busily hunting for the best crypto to buy now to benefit from an alt-coin surge.

Narratives will be key, and coins with the strongest narrative will outperform. The $NEAR bulls are hoping that the blockchain’s position as a leading blockchain for AI use cases sets it up for big gains in 2025.

A retest of 2024 highs in the $8 area is very likely before the end of the year.

A breakout above these levels would set up the likelihood of a quick surge back to record highs around $20 in early 2025.

How High Can $NEAR Go?

Beyond that, the sky is the limit. Near Protocol currently has a market cap of around $8.4 billion, but it wouldn’t be too surprising see this surge above $40 billion, 5x above current levels.

Of course, valuations like this would need to be justified in an improvement in on-chain metrics.

Per DeFi Llama, Near Protocol last had $300 million in crypto locked in smart contracts on its chain. That ranks $NEAR in paltry 28th place versus rival smart contract-enabled blockchains.

Bulls should bear this in mind as a counter to their bullish thesis – chains with a large market cap but weak on-chain metrics (Cardano and XRP) have experienced significant price struggles in the past versus chains with better and growing on-chain metrics (although, of course, the run higher in XRP and ADA in recent weeks has been spectacular!).

Some traders with a high-risk tolerance might want to check out more speculative options that could deliver 100x returns.

These traders often turn to meme coin markets. And sure, new meme coins can deliver great returns.

But one overlooked corner of the meme coin market could experience a strong comeback ahead of the January US Presidential inauguration in January – PolitiFi tokens.

Analysts at cryptonews.com keep a close eye on the PolitiFi market, and one token, in particular, has caught their attention – FreeDum Fighters ($DUM).

FreeDum Fighters stands out versus other PolitiFi meme coins thanks to its focus on community debates (where those involved can win rewards), and thanks to the massive staking yields on offer.

Currently in presale, investors have poured over $660,000 into $DUM so far, setting up an explosive launch when the token lists in 8 days.