Grayscale has filed with the SEC to convert its NEAR Trust into a spot exchange-traded fund (ETF) amidst a broader decline in the cryptocurrency market. Despite this downturn, the price of NEAR rose by over +3%, from $1.44 to $1.80, accompanied by increased trading volume and futures interest, though the price has since cooled down and is back trading at $1.50. The proposed ETF is designed to offer staking options and will utilize major custodians to track NEAR spot prices on regulated exchanges, offerin ...

Cryptocurrency Integration - NEAR Protocol's token ($NEAR) is now available on Solana [1]

Core Insights - Oracle Corporation reported disappointing quarterly results with a revenue of $16.1 billion, falling short of the estimated $16.21 billion [3] - The company's shares dropped nearly 14% to $192.12 following the earnings report, raising concerns about a potential bubble in AI infrastructure [4] - The decline in Oracle's stock also negatively impacted cryptocurrencies linked to decentralized AI projects [1][5] Financial Performance - Oracle's revenue for the three months ending in November was $16.1 billion, which was lower than market expectations [3] - The company had previously raised $18 billion in a significant debt issuance and entered a $300 billion deal with OpenAI [3] Market Reaction - Following the earnings report, Oracle's shares fell nearly 14%, indicating investor disappointment and anxiety regarding AI investments [4] - The weak performance in Oracle's cloud sales is expected to have broader implications for the AI sector [4] Cryptocurrency Impact - Decentralized AI tokens experienced a decline in value after Oracle's disappointing results, reflecting the interconnectedness of traditional tech stocks and crypto markets [5] - Specific AI tokens such as TAO, NEAR, ICP, FIL, and RENDER saw significant drops in their trading values, with declines ranging from 3.89% to 8.5% [6][7]

RT JAKE (@JakeGagain)Near Intents are growing at a record pace0 to $1B in volume in 305 days$1B to $2B in volume in 35 days$2B to $3B in volume in 20 days$3B to $4B in volume in 8 daysA percentage of this revenue is used to directly buy back the $NEAR tokenSo much higher for @NEARProtocol https://t.co/RD41rU7K7g ...

Financial Strategy - OceanPal, a Nasdaq-listed company, raises $120 million [1] - The company plans to launch a $NEAR token treasury company [1] - The treasury company intends to acquire up to 10% of NEAR's token supply [1] Cryptocurrency Market - The move indicates a growing interest in NEAR Protocol within the traditional financial market [1] - The acquisition could potentially impact the price and market dynamics of the NEAR token [1]