NEAR rallies on success of cross-chain feature, analysis shows

Near Protocol (NEAR) is rallying on the success of its cross-chain trading system, NEAR Intents, CoinDesk reported. The outlet noted that NEAR Intents, which allows users to swap cryptocurrencies on the Ethereum (ETH) network for assets on other chains, has generated a cumulative trading volume of $19 billion and $32 million in fees. Additionally, institutional demand is growing, with assets under management for the Europe-listed Bitwise NEAR Staking ETP increasing to around $40 million. Investors are also watching for the introduction of dynamic resharding, an update scheduled for this June that is expected to improve scalability.