Breakout Cryptocurrency Gains Momentum, Skyrocketing 50% Amidst Speculation of Hitting $5 Milestone

A significant surge in the $NEAR Protocol ($NEAR) token was observed on Friday, with its value skyrocketing by 34% within a 24-hour period to reach $2.32. This upward trend was largely driven by the protocol's recent network upgrades, which focused on artificial intelligence, privacy, and scalability, as well as a bullish revenue forecast from NVIDIA. Over the past 90 days, $NEAR has demonstrated substantial growth, with its price increasing by 115%. Additionally, its value has risen by 50% over the past seven days, solidifying its position as a leading artificial intelligence-based token.

The $NEAR Protocol's recent upgrades have instilled confidence among investors, resulting in a notable increase in trading volume, which exceeded $1 billion. This surge in investor interest has propelled $NEAR's price to a six-month high, with its trading volume experiencing a 190% increase to $1.15 billion over the past 24 hours. The altcoin's recent jump above $2.30 triggered short liquidations worth over $9.85 million, as investors who had bet against the token's price were caught off guard.

The $NEAR Protocol ecosystem has demonstrated ongoing technical progress, with the announcement of major upgrades and the introduction of new features, such as the update of the Aurora Intents Widget. This update has enabled smoother cross-chain swaps, deposits, and application flows for users, potentially increasing demand for the $NEAR token. The market capitalization of AI and big data crypto projects and tokens has risen by 8% over the past 24 hours to $21.44 billion, reflecting renewed investor confidence in the sector.

NVIDIA's dominant position in the AI accelerator market, with a share of 81-90%, has also contributed to the surge in AI tokens. The company's Q1 2026 profits of approximately $81.6 billion and its projected revenue opportunity of $1 trillion through 2027 have fueled broader sector momentum. Historically, NVIDIA events have triggered strong rallies in $NEAR's price, with the altcoin soaring 58% in February following the company's Q4 2025 earnings report.

The $NEAR/USD pair is currently facing stiff resistance at the $2.60-$3.0 supply zone, where major moving averages are situated. A break above this level could clear the path toward the measured target of the wedge at $5.75, approximately 160% above the current price. According to MN Capital founder Michael van de Poppe, $NEAR is displaying a highly bullish chart, with a continuation expected as long as it holds $1.40 as support. Van de Poppe has identified the first real resistance zones for $NEAR at $2 and $2.25-$2.50, with the next target near $2.75.