Bitcoin price reached its daily peak of $73,480, and Iran did not provide denial statements after the US’s hopeful statements about the negotiations. For cryptocurrency investors, the short-term outlook is important for now. While inflation increased by 1% last month, PPI will increase further and time is in the favor of risk markets. Poppe, on the other hand, is bullish for NEAR Coin.
Can I buy NEAR Coin?
One of Michael Poppe’s favorite altcoins NEAR Coin It is on the analyst’s agenda again today. The analyst, who expects the $3-4 level to be broken and the rise to $5 to continue, thinks that NEAR Coin is seriously underpriced under current market conditions. His optimistic target extends to $10. The main reasons for the rise are as follows:
- Approximately 32 million tokens are issued annually with an inflation rate of 2.5%. 50% decrease since last updates in 2025.
- All VC tokens have been unlocked, 99% of the tokens are in circulation.
- 45.5% of tokens are staked.
- The last 90 days of revenue indicate potential annual earnings of $50-60 million.
- Base layer gas fees are split 70/30, meaning 70% of tokens are permanently burned by the protocol. NEAR Intents fees are 100% used to acquire NEAR through the protocol.
- The Intents fee buyback mechanism was activated in February this year and its impact will become better understood over time.
“At current prices and the 2026 wage rate, the deflationary threshold is approximately $177M per day in Intents volume. The current 90-day average (in bad market conditions) is $77M per day. NEAR should become deflationary, roughly doubling NEAR Intents volume.”
$NEAR (Intents) Adjusted P/S = 28x
$ETH = 194x
$LEFT = 40x
The current market capitalization is approximately $1.7 billion, with annual fees around $50-60 million. If intents volume doubles and valuation metrics remain the same:
– 28x P/S = $2.30 per 1 NEAR on $140 million daily volume
– 40x P/S (SOL benchmark) on $140 million daily volume = $3.30 per 1 NEAR.”
For this reason alone, Poppe predicts a scenario of $150-180 million in annual fees x 40 P/S = $4.65-5.60 per NEAR when Intents rise above $177 million per day. While a daily volume of $100-150 million will bring the altcoin to the brink of deflation, $200-300 million will cause a contraction in supply.
“If markets rebound and enter a bull cycle, you can easily multiply these numbers, meaning this asset is extremely undervalued going forward.
“Given the current momentum in the system, CAGR and metrics, I don’t think it’s strange to expect a $7-10 valuation in 12 months.”
High leverage clearing
The decline in the last quarter of last year was triggered to clear high leverage on the options and futures side. One of the problems with high leverage is that huge liquidation potentials can move markets in the opposite direction. Where we are today CME Bitcoin futures Trading activity fell to a 14-month low following weakening institutional participation and prolonged declines. This paves the way for a new bullish story for Bitcoin as the leverage is cleared.
