NEAR Insights

A long-term investment thesis for NEAR, tested against on-chain, market and NEAR Intents revenue data, with every query open to re-run.

Color theme

That trading buys NEAR

Since 2026-02-23, the NEAR Intents app and the 1Click API have sent the fees they keep to their fee wallets and used them to buy NEAR on the open market. Their operators chose this; no protocol rule requires it. The NEAR bought stays in the three fee wallets and is not burned, so it remains in total supply. Gas fees on NEAR are burned, all of them from protocol 87 on. Burn removes NEAR from total supply; buying holds it off the market.