Crypto Tokens Experience Significant Gains
Today, on May 24th, various crypto tokens—including Near Protocol (NEAR), Ondo Finance (ONDO), and HyperLiquid (HYPE)—are witnessing impressive increases as investors capitalize on recent market dips. Specifically, the NEAR token surged by 13%, while both Ondo and HYPE saw gains of over 10%.
NEAR Protocol Benefits from AI Enthusiasm
The NEAR token has emerged as one of the standout performers in the crypto world recently. It has climbed over 172% from its lows earlier this year, mirroring trends seen in leading AI tokens like Akash Network and Venice AI.
In addition, NEAR’s recent price increase is attributed to the rollout of confidential payment options on the Near.com platform. This feature enables users to send cryptographic tokens privately, with only the sender and recipient knowing the details. Moreover, the launch of several key AI models for Near.ai has marked another significant development.
Essentially, Near is strategically positioned at the crossroads of two rapidly expanding sectors: AI and privacy.
HyperLiquid’s Growing Trading Volume
Meanwhile, the Hyper Liquid Token is also seeing impressive momentum and has reached an all-time high. Its growth can be traced to several recent developments.
One major factor is the success of a newly launched ETF, which has attracted over $74 million in total inflows. Both 21Shares’ THYP and Bitwise’s BHYP have contributed substantially to this figure—$48 million and $40 million, respectively.
This uptick indicates a solid demand for the HYPE token, as American investors show confidence in its fundamentals.
Additionally, trading volume for the token has skyrocketed. A surge in open interest occurred over the weekend, driven by traders focused on oil and gold futures. This spike is linked to President Trump’s announcement of an agreement to reopen the Strait of Hormuz.
Data indicates that Hyperliquid’s trading volume soared to $6.2 billion in just 24 hours, outpacing several other platforms combined.
On the operational side, Hyperliquid has made significant strides and is now one of the most lucrative entities in the crypto sector, generating over $850 million in revenue over the past year. This revenue is being utilized for token burn initiatives.
Ondo Finance’s Accelerated RWA Growth
The price of the Ondo token has also seen an upward shift, climbing from $0.2091 in March to $0.48 today. This increase is largely attributed to strong fundamental indicators, particularly the heightened interest in USDY and OUSG, which continue to draw in investors.
Simultaneously, Ondo Global Markets is attracting traders, with its Total Value Locked (TVL) surpassing $1 billion. This product allows participants to trade tokenized assets like stocks and exchange-traded funds.
On a technical level, ONDO is also benefiting from a cup-and-handle pattern, a well-known continuation indicator in technical analysis. Currently situated in the handle phase, this suggests that the token may continue its upward trajectory in the days and weeks ahead.
