October 14th 2026, 6:15 PM
NEAR and HYPE Gain Institutional Backing Amid Growing Demand
Key Summary
Ryan Rasmussen, Head of Research at Bitwise, says investors underestimate the institutional adoption of NEAR and HYPE, citing growing demand, revenue, and token buybacks. NEAR's Intents business and Hyperliquid's revenue model are attracting traditional investors, while ETFs and treasury companies are supporting demand through token purchases and capital deployment. However, Rasmussen warns of competition and regulatory risks.
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NEAR Investment Case
NEAR is an investment in two products: NEAR Intents, a trading infrastructure product that processed a record $4.8 billion in September, up nearly 900% from a year earlier, and its potential role in providing infrastructure for AI agents.NEAR Buybacks
NEAR has already begun translating Intents activity into demand for its native token, with users paying over $29 million in fees since February, resulting in $5.3 million in NEAR buybacks.Hyperliquid's Revenue Model
Hyperliquid's revenue model is resonating with financial advisors looking for familiar ways to evaluate crypto investments.Institutional Investors
Traditional investors are attracted to Hyperliquid's buyback mechanism, which allows them to assess the token using concepts traditionally associated with equities.Treasury Companies and ETFs
Digital asset treasury companies and ETFs are supporting demand for NEAR and HYPE through token purchases and capital deployment into decentralized finance.Risks and Challenges
However, Rasmussen warns of competition from centralized exchanges and regulatory risks.#NEAR#HYPE#Crypto#InstitutionalInvestors