NEAR Protocol and Injective see price rebounds amid network activity

NEAR Protocol and Injective are experiencing price recoveries that outpace the broader cryptocurrency market. NEAR Protocol has seen a significant rally, supported by a proposal to reduce its annual token issuance from 2.5% to 1.6%, a 36% reduction in the rate at which new tokens enter the supply.

On-chain data indicates a surge in NEAR network activity, with transaction volume rising from under $100 million in August to over $900 million by October. Analysts are monitoring key technical levels for NEAR, noting that sustained momentum could lead to significant price targets, though market demand remains a critical factor.

Injective is also seeing gains, supported by tokenization plans and discussions in Washington, alongside fee proposals and buyback initiatives intended to bolster its recovery.