Near Protocol’s NEAR token climbs as community debates supply‑burn plan

The NEAR token of Near Protocol has risen 5.5 % over the past week and 11.9 % in July, bringing its price to about $1.99 and pushing its market capitalisation to roughly $2.58 billion, ranking it around 30th globally. A community member proposed burning a portion of the tokens held by the NEAR Foundation; co‑founder Illia Polosukhinh rejected the burn on X, calling it “highly ineffective”, but disclosed that the foundation is evaluating a maximum‑supply model similar to Bitcoin’s.

On 13 July the network upgraded to mainnet v2.0, adding NIST‑approved quantum‑resistant signatures and automatic shard splitting under load. Technical analysts note that NEAR is coiling inside a symmetrical triangle and approaching key resistance around $9, with a potential rally target near $20 if the breakout succeeds.