NEAR Protocol’s token jumped more than 65% in the week after former BitMEX CEO Arthur Hayes called it one of his top three altcoin positions. On May 22, Hayes posted on social media that NEAR, Hyperliquid (HYPE), and Zcash (ZEC) formed his ‘holy trinity’ of altcoin holdings. Three days later he shared a NEAR weekly price chart with the caption “We got a long way to go … pack your bags for da moon.”
The ‘Holy Trinity’ Call and Market Reaction
The May 22 call triggered an immediate rally. NEAR climbed more than 65% over the following seven days, according to market data. The token had been trading well below its 2022 peak above $20 before the surge. Hayes did not disclose the size of his NEAR position, but his track record has drawn attention from retail and institutional traders alike.
Hayes’ Broader DeFi Rotation
Hayes has been rotating into decentralized finance positions this year. He bought $1.1 million worth of Hyperliquid (HYPE) earlier in 2026 and set a price target of $150 for HYPE by August. He also holds positions in ENA, PENDLE, and LDO. The combination of these bets points to a strategy focused on protocols with recurring revenue models and AI-related demand.
Why NEAR? AI and ‘Intents’ Thesis
Hayes’ thesis for NEAR rests on two pillars. First, he sees artificial intelligence driving on-chain cash flow as autonomous applications proliferate. Second, NEAR’s ‘intents’ feature — a way for users to express desired outcomes rather than specific transaction steps — could generate recurring protocol revenue. Over the past 18 months, NEAR has positioned itself as infrastructure for autonomous on-chain applications, a narrative that aligns with Hayes’ view.
Valuation Contrast with Solana
A separate analysis flagged NEAR as potentially undervalued against Solana when measured by daily active user metrics. While Solana commands a higher market cap, NEAR’s user activity relative to its valuation suggests room for price appreciation if the market re-rates the token. The comparison adds weight to Hayes’ bullish call, though whether the current rally can push NEAR back toward its 2022 highs remains an open question. Hayes’ HYPE target of $150 by August will offer another test of his influence in the coming months.
