Invest2 publishersReports disagree2 min readPublished
Stellar's 12.8% weekly slide hands NEAR the 20th-largest crypto spot
NEAR Protocol rose about 6% to $5.50 and passed Stellar's $6.97 billion market value to rank 20th on CoinGecko, crypto.news reported. NEAR's own seven-day gain was 0.6%, so most of the swap in rank came from XLM's 12.8% weekly slide.
The Investor · Invest desk
What happened
- The NEAR Intents site shows more than $33 billion in cumulative cross-chain volume across 35 chains, up from the $30 billion figure cited earlier in the week.
- Confidential Intents, launched in February, holds $144.06 million in value locked, up 335.1% over 90 days, according to NEAR's revenue dashboard.
- Earlier this month a $3.8 million exploit in the Intents Omni deposit and withdrawal system paused the service; co-founder Illia Polosukhin said it was fixed and users would be compensated.
Compiled by The InvestorSomething wrong?How this is made
Why it matters
- constraint NEAR's lead is about $210 million, so a drop of roughly 2.9% in NEAR or a 3% rise in XLM would hand the No. 20 spot back to Stellar.
- decision Anyone buying NEAR for its Intents business has to estimate the fee rate on that flow, because protocol income comes from the fees and the headline total is gross volume.
- exposure The bull case now rests on Intents, the service that paused after this month's exploit, so a second incident there would strike the product the valuation argument depends on.
Run the seven-day changes that crypto.news cited from CoinGecko backward, holding circulating supply constant, and a week ago Stellar was worth about $7.99 billion against roughly $7.14 billion for NEAR, a Stellar lead of about $860 million [23]. Since then Stellar has shed about $1.02 billion of market value while NEAR added about $40 million [24]. Roughly 96% of the swing between the two came from Stellar's side [24]. The current ranks reconcile with supply: 1.31 billion NEAR at $5.50 is about $7.2 billion, and 35 billion XLM at $0.199 is about $6.97 billion [18].
Trading is where NEAR's own demand shows. Its 24-hour volume ran about 7.1 times XLM's [17]. As a share of market value, NEAR turned over roughly 17.5% in a day against about 2.5% for Stellar [19].
Protocol usage is counted separately, on the Intents site, where the cumulative total rose by about $3 billion in a few days [27]. Bitwise's Oct. 7 research paper had put it above $32 billion across more than 35 blockchains [26]. Users post a cross-chain request and outside market makers, called solvers, compete to fill it [9]. The headline total is gross volume. The protocol's income is the fees, which the revenue dashboard says feed channels including front-end fees, business integrations and quote improvement [13]; crypto.news did not report what those fees add up to. Cumulative flow of more than $33 billion is about 4.6 times NEAR's market value [28].
Bitwise chief investment officer Matt Hougan wrote in an Oct. 8 post that "the business is already here, and the dream is big and bold." [14] He described Intents as a business with measurable usage, and NEAR's effort to build infrastructure for AI agents as the longer-term bet [15].
A Stellar bounce would hand the No. 20 spot back to XLM with nothing changed at NEAR. A NEAR advance against a flat XLM would show demand of its own, beyond the 0.6% seven-day gain so far [4]. Or momentum fades: daily RSI stood near 68, just under the 70 level commonly read as overbought [16], after a run of about 53% from the $3.59 close on Sept. 19 [20].
I think the activity is real and the ranking is mostly Stellar's doing. RSI measures the speed of a price move, and at $5.50 NEAR still trades about 73% below its $20.44 record [21]. The view is wrong if NEAR keeps climbing while XLM holds steady, or if the fee total behind the Intents dashboard proves large enough to carry a $7 billion valuation by itself.
What to watch
- A published fee total for NEAR Intents that can be set against the token's roughly $7.2 billion market value.
- Daily RSI crossing 70 on a NEAR advance while XLM holds steady.
- Compensation payouts for the $3.8 million Intents exploit, and whether the Omni deposit and withdrawal system stays open.
Clarity's read
What the record supports and how the coverage leans. The claims behind it follow.
Reality
- Evidence65
- Adoption50
- Hype gap+20
- Incentives60
- Confidence65
Claim ledger
Ranked by verification strength, evidence, and original report placement.
- [1]
NEAR Protocol jumped roughly 6% to around $5.50 and moved above Stellar by market capitalization, putting NEAR back among the 20 largest cryptocurrencies.
ReportedSupportedSource: crypto.news, citing CoinGecko2 sources— create a free account to open themView cited source - [2]
CoinGecko data showed NEAR ranked No. 20 on Oct. 8 with a market value of roughly $7.2 billion, while Stellar sat at No. 21 near $6.97 billion.
ReportedSupportedSource: crypto.news, citing CoinGecko2 sources— create a free account to open themView cited source - [3]
XLM traded near $0.199 after falling almost 4% over 24 hours, and had lost 12.8% over the week.
ReportedSupportedSource: crypto.news, citing CoinGecko2 sources— create a free account to open themView cited source - [4]
CoinGecko showed NEAR gaining about 0.6% over seven days.
ReportedSupportedSource: crypto.news, citing CoinGecko2 sources— create a free account to open themView cited source - [5]
NEAR's 24-hour volume stood near $1.26 billion, compared with roughly $177 million for XLM at the latest CoinGecko reading.
ReportedSupportedSource: crypto.news, citing CoinGecko2 sources— create a free account to open themView cited source - [6]
NEAR had about 1.31 billion tokens circulating, while Stellar's circulating supply stood near 35 billion XLM.
ReportedSupportedSource: crypto.news, citing CoinGecko2 sources— create a free account to open themView cited source - [7]
NEAR closed at $3.59 on Sept. 19 and closed Oct. 7 at $5.33 before extending the advance.
ReportedSupportedSource: crypto.news, citing CoinGecko historical data2 sources— create a free account to open themView cited source - [8]
NEAR's record high is $20.44.
ReportedSupportedSource: crypto.news, citing CoinGecko2 sources— create a free account to open themView cited source - [9]
NEAR Intents lets users request cross-chain transactions while outside market makers, known as solvers, compete to execute them.
- [10]
Earlier this month a $3.8 million NEAR Intents exploit paused the service after a vulnerability involving its Omni deposit and withdrawal system; co-founder Illia Polosukhin said the vulnerability was fixed and affected users would receive compensation.
ReportedSupportedSource: crypto.news, citing Illia Polosukhin2 sources— create a free account to open themView cited source - [11]
At the latest readings, NEAR was valued near $7.18 billion against approximately $6.97 billion for Stellar, a difference of roughly $200 million.
- [12]
NEAR's revenue dashboard lists $144.06 million in Confidential Intents total value locked, up 335.1% over 90 days; Confidential Intents launched in February.
ReportedSupportedSource: crypto.news, citing NEAR revenue dashboard and Bitwise researchView cited source - [13]
The dashboard says protocol fees feed several revenue channels, including front-end fees, business integrations and quote improvement.
- [14]
"the business is already here, and the dream is big and bold."
- [15]
Hougan described NEAR's existing Intents activity as a business that already has measurable usage while its effort to build infrastructure for AI agents remains a longer-term bet.
- [16]
NEAR's daily RSI stood near 68, below the 70 level commonly used to indicate overbought conditions.
- [17]
NEAR's 24-hour volume was about 7.1 times XLM's.
- [18]
Circulating supply times price reproduces the reported market values: about $7.2 billion for NEAR and about $6.97 billion for XLM.
- [19]
NEAR's daily volume equals about 17.5% of its market value; XLM's equals about 2.5%.
- [20]
At $5.50 NEAR is about 53% above its Sept. 19 close of $3.59.
- [21]
At $5.50 NEAR is about 73% below its $20.44 record high.
- [22]
NEAR's lead over Stellar is about $210 million, which a roughly 2.9% fall in NEAR or a roughly 3.0% rise in XLM would erase.
- [23]
Assuming constant circulating supply, a week ago Stellar was worth about $7.99 billion and NEAR about $7.14 billion, a Stellar lead of about $860 million.
- [24]
Over the week Stellar lost about $1.02 billion of market value while NEAR gained about $40 million, so about 96% of the swing in their relative position came from Stellar's decline.
- [25]
The NEAR Intents official website shows more than $33 billion in cumulative volume across 35 chains, up from the $30 billion figure cited earlier this week.
ReportedContestedSource: crypto.news, citing NEAR Intents website2 sources— create a free account to open themView cited source - [26]
In an Oct. 7 research paper, Bitwise said NEAR Intents had processed more than $32 billion across over 35 blockchains at the time of publication.
ReportedContestedSource: Bitwise, via crypto.news2 sources— create a free account to open themView cited source - [27]
NEAR Intents cumulative volume rose by about $3 billion within the week.
- [28]
Cumulative Intents volume is about 4.6 times NEAR's market value.
Sources
2 independent publishers whose own reporting we read for this story.
- cointelegraph.comNEAR enters crypto’s top 20 after 140% surge in 30 days
2 articles · October 8, 2026
- crypto.newsNEAR jumps 6% to $5.50 and flips XLM by market cap
1 article · October 8, 2026
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