NEAR becomes net deflationary at $175M daily Intents volume. That's just step one of the 20-40x case from Sal Ternullo (A100x Ventures) on Bankless:
> Structural change. NEAR tokens fully unlocked, no more vesting cliffs. First time the chart isn't fighting mechanical sell pressure.
> Buyback breakeven. NEAR Intents has processed $20B cumulative volume. At $175M daily, buyback pressure through Intents alone exceeds total protocol issuance. And that's BEFORE Ironclaw and NearAI value accrual mechanics.
> The numbers. Fair value today: $4-6B FDV from Intents alone (2-4x from current). AI agents through Ironclaw + NearAI add the force multiplier. NEAR positioned as the leader for agentic interactions at scale.
The math is here. How high does NEAR go now? Drop your number in replies.
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