A forecast has emerged that NEAR Protocol's NEAR token could rise about 40-fold by 2030.

On Oct. 13, Cryptopolitan reported that Matt Hougan (맷 호건), chief investment officer at Bitwise, put NEAR's 2030 target price at $155.85. In a bullish scenario, it could climb to $562.81, but in a bearish scenario it could fall to $1.63, he said.

The key question behind the outlook is whether artificial intelligence agents can create new blockchain demand. Hougan expected demand to grow for blockchain infrastructure that handles fund transfers and settlement between apps if autonomous AI agents spread and carry out payments, transactions, reservations and digital asset management without human intervention.

NEAR is pushing 'NEAR Intents' to target this market. It is structured to let users or applications execute transactions across multiple networks without directly handling complex procedures that differ by blockchain. NEAR's chain abstraction technology is also designed so users can use assets across multiple blockchains without being aware of technical differences between networks. The idea is to support an economy in which AI agents trade with each other and transfer funds.

Hougan drew a line, saying NEAR's long-term value does not depend only on whether it can dominate the AI agent market. He said NEAR already runs an active blockchain business, and AI is one of the growth opportunities added on top of that.

He also cited performance in its existing business as an investment rationale. NEAR Intents has processed about $30 billion worth of cross-chain transactions so far. Hougan assessed NEAR as an example among small market-cap tokens that has both current uses and long-term upside potential. Even if growth in AI-based finance falls short of expectations, existing transaction demand could support the investment case, he said.

The outlook also ties in with Bitwise's launch of an investment product tied to NEAR. Bitwise listed a spot NEAR exchange-traded fund on NYSE Arca in late September. The ticker is NRR, and it was designed so U.S. investors can invest in NEAR through a regulated investment vehicle while also earning staking rewards. The annual fee is 0.75 percent, and a dedicated in-house Bitwise team handles staking of the underlying assets.

Based on on-chain data as of Sept. 25, the estimated annual staking yield is 5.3 percent. The yield can fluctuate and is not guaranteed. According to the prospectus, 33 percent of total staking rewards is allocated to the staking delegate, custodian and Bitwise. The remaining 67 percent accrues to the trust and is reflected in net asset value.

The key going forward is how quickly real transaction demand from AI agents increases. Hougan said at the time of the ETF launch that the more AI agents carry out various activities such as reservations and payments, the greater the need for a secure and independent settlement system. Whether NEAR can maintain its existing blockchain business while also securing AI agents' transaction and settlement demand is expected to determine its long-term valuation.

No, it is not absurd.