NEAR Jumps 60% as Altcoins Outperform Ethereum
Near Protocol leads a broad altcoin rally, with Arbitrum and Avalanche posting double-digit gains this week.
Key points
- Near Protocol led a weekly rally with a gain of over 60%, outperforming Ethereum.
- Injective rose 32% after the SEC accepted an amended filing for a 21Shares ETF.
- Zcash holds the largest market cap among the top gainers at 24.56 billion dollars.
Near Protocol surged over 60% this week to lead a broad altcoin rally. Arbitrum followed with a gain of 54%, signaling a shift in market momentum away from Ethereum.
Ethena rose nearly 49% while Avalanche added more than 40% to its value. Uniswap, Zcash, and Injective also posted significant weekly increases, confirming a multi-sector recovery.
Retail sentiment turns bullish
Stocktwits data shows retail sentiment for NEAR and AVAX remains extremely bullish. This sentiment shift aligns with the sharp price increases seen in these tokens.
Zcash leads the group by market cap at 24.56 billion dollars. Uniswap and Near Protocol follow with valuations of 5.37 billion and 4.86 billion dollars respectively.
Regulatory news drives token moves
The SEC received an amended filing for a 21Shares Injective ETF. This development contributed to Injective’s 32% weekly gain as institutional interest grew.
Uniswap founder Hayden Adams cited a favorable SEC comment letter as bullish news. The letter suggested decentralized systems may not require specific security exemptions.
Analysts track capital rotation
Michaël van de Poppe noted liquidity rotating into altcoins from major assets. He predicted continued outperformance in DeFi and layer-one networks over the coming weeks.
Yahoo Finance reports that this rally spans both large and small altcoins. Trading volume data confirms where activity is concentrated within the broader market.
