Cryptocurrency prices are influenced by various factors that could contribute to an increase in value. Some of these factors might include:

1. Market Sentiment: Positive news, developments, or partnerships related to Near could boost investor confidence, leading to an increase in demand and subsequently, the price.

2. Technological Developments: Improvements or updates to Near's technology, such as upgrades to its blockchain, enhancements in scalability or security, or the launch of new features or applications, might attract more interest from investors and users alike, driving up the value.

3. Adoption and Use Cases: Increased adoption of Near's platform for decentralized applications (dApps) or its utilization in various real-world use cases might positively impact its value. Partnerships with companies or initiatives that leverage Near's technology can also contribute to its growth.

4. Market Trends and Speculation: Cryptocurrency markets are often influenced by overall market trends and speculation. Positive sentiments or trends in the broader cryptocurrency market might have a spillover effect on Near's value.

5. Regulatory News: Regulatory clarity or positive regulatory developments that favor cryptocurrencies in general or Near specifically can influence its value positively.

It's important to note that the cryptocurrency market is highly volatile, and prices can fluctuate significantly within short periods. Hence, conducting thorough research, considering both technical and fundamental aspects, and keeping abreast of the latest news and developments in the Near ecosystem is crucial for understanding its price movements and potential growth.

For the most recent analysis or information on Near's current price movements and factors contributing to its increase, I recommend consulting reliable financial news sources, cryptocurrency market analysis websites, or using dedicated tools providing real-time data on cryptocurrency prices.

Based on the factors discussed earlier that could influence the increase in the value of the cryptocurrency Near, several methodologies can be considered for analyzing its performance. Here are some approaches that might be useful:

1. Fundamental Analysis: This approach involves examining the fundamentals of the Near project. It includes researching its technology, roadmap, use cases, adoption, development team, strategic partnerships, and any relevant events that could affect its value. Staying updated with Near's news and developments is crucial.

2. Technical Analysis: Price charts and historical data are essential in technical analysis. Technical indicators such as moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), among others, can help identify trends, support and resistance levels, and potential entry or exit points.

3. Market Sentiment: Assessing the market sentiment toward Near can be helpful. Monitoring social media, cryptocurrency-focused forums, and expert opinions and trader sentiment analysis can provide insights into how investors and the community perceive the project.

4. Comparison with Competitors: Comparing Near with similar projects can provide valuable insights into its market position, competitive advantages, and differentiators. Understanding how it stacks up against other cryptocurrencies in terms of technology, adoption, and use cases can be enlightening.

5. News and Event Analysis: Staying abreast of relevant news and events related to Near and the cryptocurrency industry in general is crucial. Announcements of partnerships, technological updates, regulatory changes, or unexpected developments can significantly impact the price.

6. Risk Management: Regardless of the analysis method used, risk management is essential when investing in cryptocurrencies. Establishing loss limits, diversifying the portfolio, and avoiding decisions based solely on emotions are key principles in risk management.

There's no one-size-fits-all methodology that guarantees success in cryptocurrency investment. Investors often use a combination of approaches to make informed decisions. It's important to understand that the cryptocurrency market can be volatile and speculative, so conducting thorough research before making investment decisions is crucial.

In these graphs we can see that the transactions made since September have had a significant increase and seem to be maintained during these last weeks. Especially in the active users that in September went from 66K to 666K, i.e., multiplied by 10, and the trend, it seems, is still rising, and may reach 850K daily.

In these two graphs, it seems that the swaps also make a rise but a little later than those mentioned above, now the increase is at the end of October, going from 50K to 150K per day. The number of active traders increases from the beginning of October and continues to rise, going from 200 to more than 400K.

1. Bull Trend and Price Increase:

   • Over the past month, the NEAR price experienced a bullish trend, resulting in a 2x increase from $1 to $2 in a short period.

2. Analyzing Factors for Price Movement:

   • The text emphasizes the importance of assessing why this price increase is happening and suggests analyzing factors that could be the main drivers. This analysis is crucial to determine if the price surge is sustainable or if the asset is overbought.

3. Onchain Factors Consideration:

   • The author considers onchain factors to understand the current situation.

4. Transaction Volume Increase:

   • Graphs show a significant increase in transactions since September, with a notable rise in active users from 66K to 666K. The trend appears to be ongoing, with a potential daily reach of 850K.

5. Swap Volume Rise:

   • Another set of graphs indicates a rise in swaps, with the increase starting at the end of October, going from 50K to 150K per day. The number of active traders also shows growth, going from 200 to more than 400K.

6. Continued Growth Trends:

   • Both transaction volume and swap activity suggest ongoing positive trends, indicating potential for further growth in the NEAR token's value.

7. Caution for Overbought Conditions:

   • Despite the positive trends, the text suggests a cautious approach to assess whether the current price levels are justified or if the asset is overbought.

In summary, the NEAR token has experienced a recent bullish trend supported by significant increases in transaction volume, active users, and swap activities. The analysis of these onchain factors is crucial to understanding the sustainability of the current price levels.

It is clear that over the past month, the NEAR price experimented a bull trend that has let the token experiment a 2x in price passing from $1 to $2 in a matter of days.

However, it is important so assess why its occurring and analyze which factors could be the main cause of this in order to know if the price can still grow more or its overbought.

Below, I am considering several onchain factors that could let us know in which case we are.