Here’s why Near Protocol, Ondo, and Hyperliquid crypto tokens are rising
Top crypto tokens like Near Protocol (NEAR), Ondo Finance (ONDO), and Hyperliquid (HYPE) were among the top gainers today, May 24, as investors bought their recent dips. NEAR token jumped by 13%, while Ondo and HYPE jumped by over 10%.
Near Protocol price jumps amid AI hype
NEAR crypto token has been one of the best-performing coins in the crypto industry in the past few months. It has jumped by over 172% from its lowest point this year, mirroring the gains made by top AI tokens like Akash Network and Venice AI.
Near token continued its rally recently as the developers launched confidential payments on its Near.com platform. This feature enables users to send crypto tokens in a private way that only the sender and the recipient knows. It has also launched some important AI models for its Near.ai platform.
These features mean that Near is at the intersection of two of the fastest-growing industries in the crypto industry: AI and privacy.
Hyperliquid price jumps as volume jumps
Hyperliquid token has also done well in the past few days and is now hovering at its all-time high. HYPE’s surge has been driven by several key catalysts in the past few months.
The first one is the fact that the recently launched ETFs have done well, with their combined inflows soaring to over $74 million. 21Shares’ THYP and Bitwise’s BHYP have added over $48 million and $40 million, respectively.
These inflows mean that there is demand for the HYPE token as American investors bet on its fundamentals.
The token also jumped as volume, and its open interest soared this weekend as traders traded crude oil and gold futures. Crude oil and gold volume jumped after President Trump announced a deal to reopen the Strait of Hormuz.
Data shows that Hyperliquid’s volume soared to $6.2 billion in the last 24 hours, higher than Aster, ApeX Protocol, Lighter, and edgeX, combined.
Hyperliquid has also made some major developments in the past few months. For example, it has become one of the most profitable players in the crypto industry, making over $850 million in the last 12 months. It is using this revenue to burn its tokens.
Ondo Finance growth in RWA is accelerating
Ondo token price has also jumped from a low of $0.2091 in March to $0.48 today. This rally has happened because of its strong fundamentals, including the growing demand for USDY and OUSG, which have continued to attract investors.
At the same time, Ondo Global Markets has continued to attract traders, with its total value locked (TVL) rising to over $1 billion. This product makes it possible for traders to trade tokenized assets like stocks and exchange-traded funds.
Technicals have contributed to the ongoing ONDO price surge. It has formed a cup-and-handle pattern, a popular continuation sign in technical analysis. It is now in the handle section, meaning that the token may continue rising in the coming days or weeks.
The post Here’s why Near Protocol, Ondo, and Hyperliquid crypto tokens are rising appeared first on Invezz
