The project used a portion of swap fees to buy back $1.84M of NEAR tokens on the open market in September, up from $723K in August. Total open market buybacks since the February fee switch total $5.3M, drawn from $29M in fees paid by users. Volume growth followed the addition of tokenized stocks from Ondo and Hyperliquid perpetuals, while the network currently burns 70% of L1 transaction fees before a scheduled increase to 100%.
Tuesday, October 20, 2026
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NEAR 30 Day Intents Volume Surges 896% to $4.8B
Crypto13 days ago
NEAR processed more than $30B in cumulative volume through its Intents network to date, according to a research paper by Bitwise. The network's 30 day volume reached $4.8B as of September 30, an 896% increase year over year, while 30 day revenue grew 512% to exceed $2M. Bitwise describes the infrastructure as a settlement engine built for AI agents to conduct commerce at scale.
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