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## The Event in Detail Grayscale Investments completed the third-quarter 2025 rebalancing of its three multi-asset funds: the Grayscale Decentralized Finance (DeFi) Fund, the Grayscale Smart Contract Fund, and the Grayscale Decentralized AI Fund. These adjustments were finalized at the end of the day on October 3, 2025, and announced on October 8, 2025. Within the **DeFi Fund (DEFG)**, **MakerDAO (MKR)** was removed from the portfolio. Concurrently, **Aerodrome Finance (AERO)** was added and now represents 6.60% of the fund's components. Other significant holdings in the DeFi Fund include **Uniswap (UNI)** at 32.32%, **Aave (AAVE)** at 28.07%, and **Ondo (ONDO)** at 19.07%. The rebalancing was conducted in accordance with the CoinDesk DeFi Select Index methodology. The **Decentralized AI Fund (AI Fund)** saw the inclusion of **Story (IP)**, which now accounts for 21.53% of its assets. The largest components in the AI Fund are **NEAR Protocol (NEAR)** at 25.81%, followed by **Bittensor (TAO)** at 22.15%. Other assets include **Render (RENDER)** at 12.91%, **Filecoin (FIL)** at 11.39%, and **The Graph (GRT)** at 6.21%. For the **Smart Contract Fund (GSC Fund)**, updated weightings were announced, with **Solana (SOL)** holding 30.97% and **Ether (ETH)** at 30.32%. Additional components include **Cardano (ADA)** at 18.29%, **Avalanche (AVAX)** at 7.57%, **Sui (SUI)** at 7.35%, and **Hedera (HBAR)** at 5.50%. As of September 30, 2025, Grayscale Investments reported approximately **$35 billion** in assets under management (AUM), solidifying its position as a prominent digital asset-focused investment platform. ## Market Implications The rebalancing actions by Grayscale Investments are expected to induce **increased trading volume and potential price fluctuations** for the directly affected tokens, notably **Aerodrome Finance (AERO)** and **Story (IP)**, as well as **MakerDAO (MKR)**. Grayscale's strategic allocations signal a notable **institutional interest** in specific sectors of the digital asset economy, primarily decentralized finance (DeFi) and artificial intelligence (AI) driven blockchain projects. This institutional endorsement could influence broader **investor sentiment** and potentially direct additional capital into these emerging ecosystems. The shift from **MakerDAO (MKR)** to **Aerodrome Finance (AERO)** within the DeFi Fund suggests a prioritization of protocols demonstrating robust liquidity and established governance frameworks, while potentially reducing exposure to projects perceived as having declining user activity. The integration of **Story (IP)** into the AI Fund underscores a growing recognition of **AI-driven blockchain solutions** as a critical growth sector, capable of bridging decentralized infrastructure with machine learning capabilities. ## Business Strategy and Investment Thesis Grayscale's Q3 2025 fund rebalancing reflects a strategic pivot towards digital assets characterized by **robust fundamentals, institutional-grade utility, and alignment with emergent technological frontiers**. This approach emphasizes **diversification and innovation** within the rapidly evolving digital economy. The firm's commitment to adapting its multi-asset portfolios to dynamic market conditions is evident through these adjustments. By prioritizing projects with demonstrated **real-world utility, potential for institutional adoption, and technological innovation**, Grayscale aims to position its funds to navigate both market volatility and regulatory uncertainty. The **DeFi Fund's** rebalancing specifically highlights a focus on protocols with **proven liquidity and active ecosystems**, indicating a mature investment perspective on the sector. Furthermore, the targeted allocation within the **Decentralized AI Fund** towards assets like **NEAR Protocol, Bittensor, and Story** aims to capture innovation and computing demand at the intersection of AI and blockchain. This strategic positioning anticipates significant growth in a sector projected to expand as enterprises seek decentralized solutions for AI training and inference. Grayscale's selections provide investors with diversified exposure across **DeFi, smart contracts, and AI-driven blockchain ecosystems**, while concurrently mitigating risks associated with more speculative tokens. ## Broader Context Grayscale Investments, established in 2013, operates as the world's largest digital asset-focused investment platform, leveraging a decade of experience in the sector. The firm's quarterly rebalancing serves as a significant barometer for **institutional sentiment** within the cryptocurrency market. These strategic allocations are consistent with broader **macroeconomic tailwinds**, including increased venture capital funding directed towards AI-native crypto projects and a trend towards clearer regulatory frameworks in key jurisdictions. The continuous evolution of the crypto market underscores that adaptability and innovation remain non-negotiable attributes for sustained growth and investor confidence.
## Executive Summary CoinShares International launched its CoinShares Altcoins ETF (DIME) in the US, providing equal-weighted investment exposure to ten altcoins including Solana and Cardano, broadening access to the digital asset market for traditional investors. ## The Event in Detail The **CoinShares Altcoins ETF (DIME)** has been introduced as an innovative US exchange-traded fund. This ETF is designed to provide investors with exposure to a diversified basket of altcoins through their existing brokerage accounts, addressing a market gap where previously only spot **Bitcoin (BTC)** and **Ethereum (ETH)** ETFs were available. CoinShares International, a digital asset manager with over $9 billion in assets under management (AUM), aims to make approximately 70% of the broader crypto market accessible to traditional investors. DIME employs an **equal-weighted investment strategy** across multiple Exchange Traded Products (ETPs) that hold different digital assets. This approach seeks to mitigate the risk associated with over-reliance on any single cryptocurrency. The initial investments for DIME are focused on ETPs holding **Solana (SOL)**, **Polkadot (DOT)**, **Cardano (ADA)**, **Cosmos (ATOM)**, **Sei (SEI)**, **Avalanche (AVAX)**, **Sui (SUI)**, **Aptos (APT)**, **Near Protocol (NEAR)**, and **Toncoin (TON)**. These assets span three investment themes: high-speed blockchains, interoperability protocols, and growing platforms, primarily categorised as emerging Layer 1 alternatives. CoinShares has committed to waiving the 0.95% gross expense for the Fund on assets under management up to $1 billion through September 30, 2026, subject to potential amendments or termination by the Trust's Board of Trustees. The regulatory landscape in the United States has evolved to facilitate such products. The U.S. Securities and Exchange Commission (SEC) recently approved new listing standards for crypto ETFs and cleared **Grayscale's Digital Large Cap Fund (GDLC)**. These approvals introduced generic listing standards for spot crypto ETFs, enabling exchanges like Nasdaq, NYSE, and CBOE to approve products that meet predefined requirements without requiring lengthy 19(b) rule-change processes. The **GDLC**, which includes exposure to Bitcoin, Ethereum, XRP, Solana, and Cardano, marked the first multi-crypto exchange-traded product in the U.S. to receive such approval, paving the way for broader altcoin ETF introductions. ## Market Implications CoinShares' launch of DIME represents a strategic move to address a significant unmet demand within the US investment market. By offering access to a diversified basket of altcoins, DIME directly competes in a segment previously underserved by traditional financial instruments. This strategy contrasts with market capitalization-weighted funds, which can concentrate exposure in larger, established cryptocurrencies. An equal-weighted approach, as utilized by DIME, tends to reduce overall portfolio volatility due to greater diversification. Historically, equal-weighted funds have demonstrated a tendency to rebalance by taking profits from disproportionately rising assets and reinvesting into those with lesser performance, aligning with a "buy low, sell high" dynamic. This differs from market-capitalization weighting, which can inadvertently lead to "buy high, sell low" scenarios in the cryptocurrency market due to the observed mean-reversion tendencies of many digital assets. The introduction of DIME is expected to enhance the legitimacy and potentially influence the market values of the included altcoins by facilitating increased institutional capital flow. This development signifies a broader acceptance of cryptocurrencies beyond Bitcoin and Ethereum within regulated investment products, setting a precedent for future altcoin investment vehicles and expanding the addressable market for these digital assets. ## Expert Commentary Industry analysts have indicated that the streamlined regulatory process, exemplified by the SEC's approval of new listing standards and Grayscale's multi-crypto ETP, is likely to precipitate a surge in crypto ETF launches, particularly those focused on altcoins. Peter Mintzberg, CEO of Grayscale, described the approval of their multi-crypto ETP as a significant milestone, highlighting the industry's collaborative efforts to bring diversified digital asset products to market. ## Broader Context The launch of DIME by CoinShares contributes to a broader trend of integrating digital assets into traditional financial frameworks. This move reflects an ongoing shift in regulatory attitudes and investor demand, moving beyond foundational cryptocurrencies like Bitcoin and Ethereum to encompass a wider array of digital assets. The availability of such products in familiar ETF wrappers reduces the complexity of direct crypto asset investment, thereby lowering barriers to entry for both retail and institutional investors. This expansion is poised to further mature the Web3 ecosystem by providing more liquid and regulated avenues for capital allocation into nascent blockchain technologies and decentralized applications.
## Executive Summary The **CoinDesk 20 Index** increased by 3.5% to 4138.75, with all constituent cryptocurrencies advancing, signaling renewed investor confidence in digital assets. ## The Event in Detail The **CoinDesk 20 Index**, a key indicator of leading cryptocurrency performance, registered a 3.5% increase, closing at 4138.75 points. This broad-based rally saw all 20 assets within the index trade higher, a notable shift from previous periods. **NEAR Protocol (NEAR)** led the gains, recording a 7.6% increase. **Aptos (APT)** followed closely, advancing by 7.0%. This collective upward movement stands in contrast to the index's performance as of late September, when it experienced a 3.52% decrease. ## Market Implications The universal positive performance across the **CoinDesk 20** constituents signals a resurgence of confidence in the digital asset market. This broad rally suggests that institutional money is flowing back into the space, particularly favoring blockchain infrastructure tokens and Layer 1 protocols. Such gains typically indicate that investors are prioritizing foundational technology over more speculative assets. The positive momentum in the index could encourage further capital inflow into the broader crypto market, particularly for established altcoins. The general market sentiment is characterized as bullish, with expectations of continued volatility. ## Business Strategy & Market Positioning **NEAR Protocol**, a Layer 1 blockchain, continues to prioritize scalability through its Nightshade 2.0 sharding technology, aiming for 1 million transactions per second. This technological advancement positions it to surpass the scalability of networks like Ethereum and Solana. The protocol has also seen increasing institutional adoption, evidenced by the launch of **Exchange Traded Products (ETPs)** by firms such as Goldman Sachs, a16z, and Bitwise, and its compliance with MiCA regulations in Europe. Strategic enterprise partnerships with **Everclear** and **Chainlink**, alongside its focus on AI-driven use cases, are solidifying **NEAR's** role as a backbone for decentralized AI, which is expected to boost token demand, contributing to its $5 billion market capitalization as of July 2025. **Aptos** has also demonstrated significant strategic development and market positioning. The launch of **World Liberty Financial's (WLFI) USD1 stablecoin** on the **Aptos blockchain** marked a key integration, leading to an 8% jump in the **APT** token price to $4.56. The **USD1** stablecoin, with a market capitalization of approximately $2.68 billion, is set to integrate with major DeFi protocols and wallets on Aptos. The **Aptos** network currently supports about $1 billion in stablecoin value, with **USDC** transfers surging 400% since Q1 2025, reaching $25.8 billion in Q3. Furthermore, **Aptos Labs' CEO** has been appointed to the CFTC's Digital Assets Markets Subcommittee, indicating growing regulatory engagement and institutional traction, including **BlackRock's $2 billion BUIDL fund** on its chain. A partnership with **NEAR Protocol** for cross-chain swaps and decentralized storage for AI data enhances **Aptos's** interoperability, while **Aave** deposits on the network have surpassed $2 million, highlighting accelerating DeFi adoption. ## Broader Context The current broad-based rally in digital assets follows a period marked by regulatory uncertainty and sustained sideways market action. The collective advance of all **CoinDesk 20** constituents suggests a renewed investor confidence in the sector's long-term value proposition. This demonstrates that decentralized networks continue to build and create value, independently of ongoing debates within traditional finance regarding crypto's asset class status. While traditional markets like the **S&P 500** and **Nasdaq Composite** have experienced their own movements, the digital asset market continues to carve its distinct trajectory, driven by technological advancements and strategic integrations within its ecosystem.
## Executive Summary NEAR Protocol (NEAR) is exhibiting technical indicators suggesting a potential bullish breakout following a period of consolidation. The asset, which recently saw an 11.66% price increase, is currently trading at approximately $3.26 with a 24-hour trading volume exceeding $755 million, representing a 168.00% increase. ## The Event in Detail Technical analysis indicates that **NEAR Protocol** is poised for an upward price movement. The asset tested the $7.90 area in December 2024 and has since entered a consolidation phase. It is currently building momentum, appearing ready to break out of a bullish flat pattern. A sustained move above the **$3** price point is anticipated to trigger a strong upward trend. Should this breakout occur, subsequent target levels are projected at **$3.70**, **$4.70**, **$5.90**, and **$7.90**. This technical setup follows a recent surge, where **NEAR** price increased by 11.66% in the last 24 hours and 19.83% over the past seven days. ## Market Implications The market sentiment surrounding **NEAR Protocol** is broadly bullish, with expectations of high volatility if the asset reaches its anticipated **$3** breakout point. A successful breakout could lead to significant short-term gains for **NEAR** holders and increase trading volume, attracting further attention to the **NEAR** ecosystem. Conversely, a failure to break out could result in continued consolidation or downward price pressure. The recent 24-hour trading volume of **$755,039,064** marks a 168.00% increase from the previous day, signaling a notable rise in market activity and trader interest. CoinUnited.io reported a trading volume exceeding **$724 million USD**, underscoring the heightened market engagement. ## Expert Commentary Long-term price forecasts for **NEAR** are varied among experts. Some analysts project that **NEAR** could retest multi-year highs, reaching **$8–9** by the end of 2025, contingent on sustained positive crypto market conditions and user adoption of **NEAR**'s technology. Other experts anticipate a steady climb to mid-single digits based on current metrics. TradingView analysts specifically project a 2025 low/high range between **$1.95** and **$9.00**, with an average trading price of **$4.34**. They suggest that a weekly close above **$4.345** could enable a retest of the **$8–9** range by the end of 2025. ## Broader Context **NEAR Protocol** is a sharded layer-1 blockchain engineered for scalability and AI applications, utilizing Thresholded Proof-of-Stake (TPoS) and Nightshade sharding to facilitate high transaction volumes. It offers **EVM** compatibility via its Aurora layer, enabling developers to migrate from Ethereum, and features fast finality (1-second blocks) and low fees. The platform has implemented several strategic advancements. On September 16, 2025, **NEAR Protocol** integrated Allora Network's decentralized intelligence layer, enhancing its Shade Agent infrastructure with predictive AI capabilities for applications in DeFi, NFTs, and cross-chain operations. An inflation cut to **2.5%** from **5%** was approved via community vote on August 18, 2025, aiming to reduce sell pressure and incentivize long-term staking. Strategic partnerships announced on September 3, 2025, include collaborations with **Aptos** for cross-chain transfers and **Shelby** for decentralized storage, simplifying blockchain interactions and supporting AI workloads through **NEAR**'s Chain Abstraction framework. Technological upgrades include Sharding Phase 3, introducing demand-driven shard allocation, and Resharding V3 in March 2025, which expanded the shard count from 6 to 8. On-chain activity in Q4 2024 recorded a 7.9% quarter-over-quarter growth in daily transactions and a 15.8% increase in active addresses, indicating increasing adoption and network utilization.
NEAR Protocol (NEAR) current price is $2.26, up 5.26% today.
NEAR Protocol (NEAR) daily trading volume is $177.3M
NEAR Protocol (NEAR) current market cap is $2.8B
NEAR Protocol (NEAR) current circulating supply is 1.2B
NEAR Protocol (NEAR) fully diluted market cap (FDV) is $2.8B