Gemini Opens NEAR Trading, Deposits and Withdrawals With Token Near $4.42

Gemini opens NEAR trading, deposits and withdrawals

Gemini has switched on trading, deposits and withdrawals for NEAR Protocol's native token, handing eligible United States customers another major venue for the asset even as the NEAR price sits near $4.42. The addition was confirmed in the October 26 announcement shared through the project's official account. Co-founder Illia Polosukhin welcomed the listing, praising his collaboration with Tyler Winklevoss, Cameron Winklevoss and Eric Kuhn and saying he looked forward to further work with the exchange's team. Availability depends on regional eligibility rules, and Gemini has not published volume expectations or institutional allocations attached to the launch; what it has enabled is straightforward trading of the token plus transfers through supported deposit and withdrawal services. A listing does not by itself commit the exchange to any purchase or market-making program; it wires the token into the venue's order books and custody, and demand has to come from customers afterwards. The exchange's own launch materials stop at trading and transfers, with no further products named. For an asset that has depended on a limited set of United States venues for direct access, each additional order book widens the pool of buyers who can reach it without moving holdings across borders. The timing is unflattering, though. Market data shows the token down 7.37% over seven days and 12.05% over the past month, with a market capitalization near $5.79 billion and roughly $500.6 million in daily volume. The latest session ran between $4.39 and $4.65, leaving NEAR Protocol (NEAR) close to its daily low, and every attempt to hold above $4.60 has so far been rejected. The listing still lands while the project keeps building its cross-chain transaction infrastructure and artificial intelligence services, work Polosukhin framed as the basis for the exchange relationship.

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The October 26 announcement.

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Bitwise ETF and the Intents repair

Institutional access widened before Gemini moved. Bitwise launched its NEAR ETF on September 29, with the NRR fund trading on NYSE Arca under a 0.75% management fee and a plan to stake part of its holdings, though its footprint now depends on follow-on demand rather than launch flows. The network side has seen more turbulence. NEAR Intents, the system's cross-chain transaction layer, resumed operations after an exploit on October 1, when a flaw in its Omni deposit and withdrawal rails, part of the cross-chain bridges stack, let attackers drain roughly $3.8 million. Polosukhin said the flaw had been fixed and affected users would be compensated, adding that the base chain and its token were never compromised. DFINITY's founder later questioned the Confidential Intents technology, turning the repair work into a public debate. None of it kept the October rally alive. The token pushed above $5 earlier in the month, helped by ecosystem interest and the appointment of Helius CEO Mert Mumtaz to the NEAR Protocol (NEAR) Foundation Council, before sliding back to the lower part of its recent range. Analyst Michaël van de Poppe, who laid out the levels in his October 26 chart note, called the $4.60-$4.65 zone the immediate obstacle after the latest reclaim attempt was rejected instantly; a confirmed breakout above $4.65 would improve the setup, while continued rejection leaves $3.95 and $3.40 in play as downside levels. The support and resistance map is equally crowded: the token sits below the Keltner Channel midpoint at $4.776, with the upper band near $5.664 and the lower boundary at $3.887, and the Aroon Oscillator at -21.429 shows bearish pressure that has not hardened into a strong trend. Analyst Giannis Andreou holds the longer view, sketching a weekly-chart scenario in which a pullback toward $3.21 precedes another attempt at the descending trendline, with $6 and ultimately $20.55 conditional on a clean breakout. As our earlier NEAR technical analysis coverage noted, the 50-day line near $4.28 has held as support through the pullback.

Leverage still parked at $1.30 billion

Derivatives are where the next move is most likely decided. Open interest in NEAR Protocol (NEAR) crypto futures stood near $1.30 billion, down only 0.39%, while futures turnover dropped 14.14% to roughly $1.35 billion; positions had approached $1.9 billion during September's advance and have retreated only modestly since. Our reading is that leverage has not left with the price, and the aggregate does not show whether longs or shorts are holding it. A slide below $4.30 would expose some of those positions to liquidation, the mechanism most able to force an impulse move that the Gemini listing, on its own, is not. That risk echoes our earlier note, when open interest fell 9.5% in a day as traders deleveraged.