Bitcoin rises above $81,000, while NEAR jumps 23% on Zcash swap traffic
Bitcoin rose above $81,000, while the NEAR token jumped 23% due to increased traffic on NEAR Intents, a cross-chain swap service. This service allows wallets to trade tokens across different blockchains without moving funds, with major wallets now using it for ZEC swaps.
Why it matters
The surge in NEAR's value and the adoption of NEAR Intents highlight advancements in cross-chain interoperability, making cryptocurrency trading more seamless and efficient. Bitcoin's rise, partly attributed to SEC clearing of tokenized U.S. stocks, signals growing institutional acceptance and market maturity in the crypto space.
NEAR was the standout among the major tokens, up roughly 23% to just above $4. The move traces to NEAR Intents, a swap service built on the NEAR blockchain that lets a wallet trade one token for another across different chains without the user having to move funds between them first.
Major consumer wallets, such as ZODL and Vizor, have plugged it in to offer ZEC swaps, and daily ZEC volume routed through the service jumped sixfold in a single in the past week. NEAR has become the routing layer for one of the most heavily traded tokens on the market, and its own token has followed the traffic.
Elsewhere, ZEC gained 3% to just above $1,500 and BNB 2% to nearly $777. Ether and HYPE each picked up about 2%, while XRP, DOGE, SOL and TRX rose 1% or less.
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