NEAR Protocol (NEAR)

NEAR Intents did $223M+ in volume over the last 24 hours.

Routing value across 35+ chains and 135+ assets.

Core products generating real revenue. https://t.co/1QoXqgP7BJ

$Near doing 2x chainflip revenue on their "busiest week of the year" at 100x the mcap.

The ticker is $flip. https://t.co/MflnkWTnYW

three of the most anticipated IPOs in modern history are pricing between now and Q4. SpaceX next week. OpenAI and Anthropic Q3-Q4. Databricks somewhere in between. combined implied valuation north of $2 trillion

this is the macro event most of crypto are not taking seriously enough

now here’s the tension AI IPOs at this scale aren’t just equity market events - they’re liquidity events for the entire risk asset ecosystem. the institutional capital thats been rotating into crypto narratives, into HYPE, into NEAR, into the AI x crypto thesis, is the same capital that gets reallocated when a $1 trillion OpenAI offering hits the public markets. the competition for institutional dollars is about to get real

Arthur Hayes flagged this explicitly when he exited his entire HYPE and NEAR position this week. three mega AI IPOs absorbing liquidity between now and early Q3 was literally on his exit checklist

here’s where the analysis gets more interesting - not all of these IPOs are equal, and the distinction matters f