AI Blockchain Project Near Protocol Surges 38% Friday, but Not for the Reason You May Think

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appears to be a primary driver of growth and excitement outside this trade, making this token a compelling option for investors.10 stocks we like better than NEAR Protocol ›High-performance AI-native blockchain Near Protocol (CRYPTO: NEAR) is one of those cryptocurrency projects that's seen a miniature boom-bust cycle play out in recent days as investor demand for anything tied to artificial intelligence has waned.Some of the volatility certainly makes sense, with valuations in all pockets of the AI-linked economy seeing the impact of questions around future profitability and valuation concerns. But Near Protocol's 38.4% move over the past 24 hours (as of 12:45pm ET) does suggest there's more driving this near-term move than a reversion trade as investors pick winners and losers from among AI stocks.Here's the catalyst investors appear to be watching today.Source: Getty Images.The thesis surrounding Near Protocol's growth prospects is tied tightly to AI. The developer team behind Near Protocol has emphasized the blockchain's robust infrastructure as the main reason investors should put their capital to work with the NEAR token.However, recent news that trading activity on Near Protocol's Intent layer (a transaction layer that allows investors to engage in on-chain swaps) is surging appears to be driving significant investor appetite for this project today.With nearly $4 billion in such trading volume reported this morning, right near this project's previous all-time high, it does appear that there are some fundamental drivers behind this token's move today. Indeed, if this level of trading growth can continue, there's an argument to be made that the whole AI narrative around this project isn't necessarily the driver investors should be focused on.That's exciting for those who have put their capital to work in Near Protocol, betting on a confluence of factors driving this token higher. So long as trading volume on Intent picks up, and AI adoption continues, this is a token that could see more upside in the weeks to come.Before you buy stock in NEAR Protocol, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and NEAR Protocol wasn’t one of them. 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