Crypto Briefing • October 7th 2026, 5:50 PM
Bitwise CIO says NEAR’s investment case goes beyond its AI ambitions
Key Summary
Bitwise CIO Matt Hougan says NEAR's investment case is driven by its growing blockchain business, with ambitions to support AI agents offering additional upside. NEAR's Intents product has generated $30 billion in cumulative trading volume and $45 million in fees this year, with token price rising 198% in the third quarter.
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Blockchain Business Growth
NEAR's investment case rests on its growing blockchain business, with its ambitions to support AI agents offering additional upside. The company's Intents product has simplified transactions across blockchains, with cumulative trading volume passing $30 billion and fees expected to reach $45 million this year.AI Ambitions and Token Price
Hougan highlighted NEAR's strong third-quarter performance, with the token rising 198% compared to gains of 43% for Bitcoin and 71% for Ethereum. The AI opportunity is seen as additional upside, with Hougan arguing that investors can assess NEAR through its products already generating activity and fees.Confidential AI Infrastructure
NEAR is also making strides in confidential AI infrastructure, designed to protect data during processing. This development is seen as a long-term prospect, with Hougan noting that the company's strategy is building useful services today that could support a larger market for autonomous agents in the future.#NEAR#US#Blockchain#Crypto