NEAR Protocol Is Up 122% in a Month While Bitcoin Gained 8%. Can the Rally Last?

NEAR Protocol has rocketed past Bitcoin, Ethereum, and Solana over the past month, but the surge lacks any confirmed catalyst, and a massive overhang of underwater sellers from 2022 looms over the rally.

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NEAR Protocol (CRYPTO:NEAR) has seen remarkable growth, climbing about 122% over the 30 days leading up to October 5, 2026. By comparison, Bitcoin (CRYPTO:BTC) posted a modest rise of about 8%. NEAR’s performance even surpassed Ethereum’s 11% and Solana’s 18%, more than doubling the second-highest increases among larger coins: Sui at 58% and Arbitrum at 55%.

As of October 7, NEAR is trading at $5.19, up 6.4% in the past week, while Bitcoin gained only 1.4% and Ethereum dipped 1.8%. So, what’s driving NEAR’s impressive performance, and can this rally be maintained?

NEAR’s Latest Surge Has No Confirmed Catalyst

NEAR Protocol runs a blockchain that serves as a public ledger for developers to build applications. However, there hasn’t been any significant announcement, such as an upgrade, new exchange listing, or partnership, that could explain the surge in value over the past month. Additionally, fund-flow data does not indicate a specific reason for this spike.