Jamie Coutts Maintains Bullish NEAR Outlook in October 28 Post

Jamie Coutts Reaffirms His NEAR Call

Jamie Coutts kept a bullish stance on NEAR Protocol (NEAR) in a message published on X on October 28, 2026, citing the project's new revenue streams and its token economy as the basis for his view. The analyst argued that the network has progressed visibly since the harsh 2022 market, both in the growth of user interest and in how disciplined its use of capital has been. Those two threads, in his framing, set the stage for the point he treated as decisive: NEAR Protocol (NEAR) has started to turn fresh income sources into economic value. That conversion process sits at the center of his optimism on the altcoin, and it moves the evaluation beyond technology alone, toward whether daily network activity can pay for itself and reward the token. Coutts also reached back to a comprehensive review Raoul Pal had published earlier, holding it up as a reference for how far the project has traveled since the 2022 market. The post described that conversion as a process at its beginning, not its endpoint, and it gave no price target and no timeframe, so it reads as a directional view rather than a trade setup. His reference period matters: 2022 was the depth of the last bear cycle, and a network that broadened its user base while markets fell is being credited with demand that was not bought by incentives alone. The message is short, and its argument rests on qualitative judgments rather than disclosed figures: no revenue level, no growth rate and no valuation framework appear in it. What the post does change is the terms of the debate, because discussion around NEAR's revenue model and the future design of its token economy returned to the foreground after stretches when short-term price action dominated the conversation.

@Jamie1Coutts · X post

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NEAR Intents and the Revenue Question

NEAR Protocol (NEAR) develops technology that eases transactions between blockchain networks and, alongside it, infrastructure aimed at artificial-intelligence applications. The project's official 2026 roadmap names cross-chain financial infrastructure and autonomous AI agents as its two principal activity areas, an approach meant to carry the network's use cases beyond conventional crypto transfers. NEAR Intents sits inside that effort: the system is built to facilitate asset transfers and swaps across different chains, functioning as a bridge protocol between otherwise separate networks, so that users define the outcome they want and suitable execution mechanisms step in. Chain-to-chain transfers and AI workloads are different demand pools from simple token transfers, and each carries its own fee profile. In a March 2026 statement, the project underlined the role that transaction-fee revenue and token buybacks are meant to play in the NEAR Protocol (NEAR) economy. Market data puts the token 4.9% higher over the past 24 hours. The caveat attached in that March statement still applies: growing usage does not guarantee that token demand, or price, rises at the same rate as activity. For investors, the network's revenue-generating capacity, its buybacks and its usage activity are the central indicators, alongside Bitcoin's market direction, broader liquidity conditions and investors' risk appetite. The buyback mechanism is the piece investors can audit, since it either shows up as recurring purchases or it does not. The NEAR token, which functions as the network's governance token, benefits only insofar as revenue reaches holders through those channels. Liquidity and risk appetite sit outside the project's control, which is why a fundamentals-first argument still leaves market direction unresolved.

What the Bull Case Rests On

The call stands or falls on one assumption a reader can watch: that new revenue converts into token value instead of being absorbed by network costs. The post names no target and no schedule, so a NEAR technical analysis read finds no level to trade against either. The measurable test is narrower: the pace of fee revenue, the size of the buybacks and the share of activity running through NEAR Intents. If those keep climbing while capital discipline holds, the bullish view gains data behind it; if usage grows while token demand stays flat, the optimism will have arrived early.