$NEAR is one of the most undervalued fee-generating Layer-1s in the market right now, and the numbers make a strong case for it.
Compared to competitors, #Near Protocol is trading at roughly 28x price-to-sales, while $Solan$SOL sits around 40x and$ETH is near 194x. From a valuation perspective alone, the gap is hard to ignore.
Tokenomics also look clean. Nearly 99% of the supply is already circulating, most VC allocations are unlocked, and the network recently reduced inflation by about 50%. On top of that, roughly 45% of the supply is staked, which significantly tightens liquid supply.
Adoption is accelerating as well. NEAR Intents went from virtually zero to about $17.6B in volume within 12 months. If that pace holds, it annualizes to roughly $25B. With continued growth in the 50–100% CAGR range, the network could realistically move toward deflationary dynamics by late 2026 and potentially cross into it by 2027.
From a market perspective, I see $3–$4 as a realistic near-term range, with $7–$10 possible over the next 12 months if the ecosystem momentum continues.
For me, #NEAR Protocol remains one of the most asymmetric Layer-1 bets right now, and it’s currently one of my larger positions.
