Unlike Ethereum, $NEAR‘s tokenomics are shifting toward serving AI agents. Using what they describe as a conservative SaaS valuation approach, with a 50x price-to-sales multiple, the analysts calculated a $562.81 target in their Max Case scenario for 2030. This would require the network to capture 3% of the global AI agent market, or about 950 million agents, and serve them much as Visa serves payments.
If centralized giants such as OpenAI prevail instead, the report sets out a bearish scenario in which the token falls to $1.63.
Investors are already assessing potential inflows by looking at other Bitwise products. Cumulative net inflows currently stand at $1.23 billion for the Bitwise Solana fund, $677 million for the Bitwise $XRP fund and $148 million for the ecosystem-focused Bitwise BHYP.
Against this backdrop, the $NEAR product occupies a distinct AI-crypto niche and offers staking of the underlying tokens with a yield of around 5% annually.
Given that $NEAR ranks second worldwide by active addresses, with 47 million, and is seeing rapid growth in transaction volume through $NEAR Intents, analysts expect the new product to have a chance of eventually matching $XRP‘s pace of attracting capital.
The listing gives institutional investors a way to make a long-term bet on whether control of AI will shift from Silicon Valley to decentralized networks.
