NEAR Protocol is making a run. The token traded near $1.64 on Wednesday, up more than 10% in the past day, and analyst Michaël Van de Poppe says it's one of the most bullish charts in crypto right now. His price target: a test of $2. The move comes as NEAR Intents — a fee-switch mechanism that converts 100% of fees into NEAR — has pushed cumulative revenue past $10 million, adding structural buy pressure.
Van de Poppe's bullish call
The analyst laid out the case on social channels. He sees NEAR setting higher highs since early 2024, and the recent move above the $1.50–$1.70 acceleration zone confirms momentum. RSI sits at 62 — not overbought, leaving room to run. But there's a catch: the $1.40 support level must hold. A daily close below that would break the bullish structure, Van de Poppe warned. For now, the trend is intact.
Fee switch driving real revenue
The NEAR Intents fee switch is doing exactly what its name suggests. It takes every fee generated by the intents layer and buys NEAR with it, creating consistent demand. Daily peaks have exceeded $400,000, and cumulative fees now top $10 million. That's not a vanity metric — it's real buy pressure hitting the open market. The mechanism isn't new, but it's scaling. Developers and projects building on NEAR Intents are paying fees in NEAR, which then get routed back into the ecosystem. It's a loop, but one that's feeding price action.
Global community and price levels
NEAR's community isn't concentrated in one city. The project has active hubs in San Francisco, Delhi, Lagos, São Paulo, and across Southeast Asia. That geographic spread helps with liquidity and adoption, but it's the on-chain activity that's moving the needle right now. The token reclaimed the $1.50–$1.70 zone this week, a range that previously acted as resistance. If it holds, $2 is the next logical target. If it slips back below $1.40, the whole thesis resets.
Van de Poppe's call is out there. The fee switch revenue is real. The next few days will show whether NEAR can keep the pace — or whether the $1.40 floor gets tested again.
