NEAR Price Slips 8% as 36% Issuance Cut Passes Vote and Intents Reports Record Revenue

• NEAR’s governance approved lowering maximum annual issuance from 2.5% to 1.6% over 24 months, with implementation still pending
• NEAR Intents reported record October revenue, with accompanying 30-day figures exceeding $2.4 million in revenue and $3.9 billion in trading volume
• A hypothetical $500 purchase at $3.80 would become $2,689.47 if NEAR returned to its $20.44 all-time high

NEAR’s token holders have backed a plan to slow new issuance, while its cross-chain trading service has reported its strongest revenue month. But the NEAR price remained around $3.76 on November 3, well below its previous peak. For NEAR Protocol, the announcements put attention back on what holders actually gain from a busier network. The vote promises a different supply schedule, but its effect will depend on steps that have yet to be completed.

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NEAR Price Stays Under Pressure After Issuance Vote

House of Stake’s HSP-029 proposal would lower maximum annual NEAR issuance from 2.5% to 1.6% over 24 months. That is a 36% reduction in the issuance rate, slowing dilution without removing existing tokens.

Approval is one stage of the process. Security Council review and ratification, a roughly 90-day grace period, and validator adoption are still required before the new schedule can take effect.

The proposal’s modeling estimates that 11.8 million fewer NEAR would be issued over two years compared with maintaining the existing cap. There is a trade-off for stakers, who would receive fewer newly issued rewards. The existing allocation of 90% to staking participants and 10% to the treasury remains unchanged.

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NEAR Intents Reports Its Strongest Revenue Month

In its October recap, NEAR Protocol described the month as Intents’ highest for revenue. The accompanying 30-day figures showed more than $2.4 million in revenue on over $3.9 billion in trading volume.

The service reported more than 520,000 unique users and two million swaps over that period, with support for 36 chains. Cumulative volume exceeded $37 billion, while cumulative fees topped $57 million.

This points to the cross-chain trading service. The issuance proposal separately changes how quickly new NEAR enters supply. It should be noted that higher trading revenue does not itself establish a higher token price.

What a Return to NEAR’s All-Time High Would Mean

NEAR recorded its all-time high at $20.44 about five years ago in 2022. Using a $3.80 entry, MarketCapOf’s profit calculator shows the scale of a hypothetical recovery.

A $500 purchase would acquire approximately 131.58 NEAR. Selling the full holding at $20.44 would return $2,689.47, including $2,189.47 in profit, equivalent to a 437.89% gain.

This reveals a full recovery to the previous peak and excludes fees and taxes. It offers a way to measure that distance while investors await implementation of the NEAR tokenomics changes.

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