The NEAR token has experienced a significant price increase, doubling from $1.24 to $2.50 since early May, with its market capitalization surpassing $3 billion. This surge is attributed to NEAR's strategic focus on AI and privacy features, alongside its Intents fee buyback mechanism. NEAR co-founder Illia Polosukhin, a key figure in AI development, has positioned the blockchain as a leader in decentralized AI infrastructure, contributing to its recent rally. NEAR has also enhanced its privacy capabilities with the launch of Confidential Payments and Confidential Intents, enabling private cross-chain transfers across 35+ chains. These features address privacy concerns and improve usability for enterprises and DeFi users. Additionally, NEAR's Intents fee revenue is used for token buybacks, creating buying pressure and reducing circulating supply. The protocol's TVL has exceeded $80 million, with monthly buybacks reaching approximately $3 million.