Key Notes
- Firm transitions from passive delivery operations to AI infrastructure focus, rebranding ticker from OP to SVRN on Nasdaq.
- Treasury administration employs energetic yield-generating methods attaining 5.3% gross APY whereas planning validator node operations.
- Institutional backing consists of $120M funding spherical from Kraken, Proximity, Cloth Ventures supporting NEAR Protocol integration ambitions.
Nasdaq-listed OceanPal’s wholly owned subsidiary, SovereignAI, disclosed on Nov. 17 a treasury holding of 53.9 million NEAR NEAR $2.24 24h volatility: 2.6% Market cap: $2.87 B Vol. 24h: $453.74 M , representing a worth of roughly $133 million by accounting time on Nov. 13. OceanPal, previously buying and selling as OP on Nasdaq, will now commerce beneath a brand new ticker: SVRN.
The disclosure got here within the type of a press launch, following a previous announcement from Oct. 28, the place the corporate communicated its intentions via a $120 million fundraising with crypto-native traders equivalent to Kraken, Proximity, Cloth Ventures, and G20 Group, amongst others.
1/ Right this moment we’re sharing that SovereignAI’s treasury now holds 53.9 million $NEAR, valued at ~$133M as of 11/13.
To mirror our full dedication to this new chapter, our firm has begun buying and selling on Nasdaq as $SVRN.
— SVRN (@svrn_ai) November 17, 2025
OceanPal’s lately appointed co-CEO and CEO of SovereignAI, Sal Ternullo, doubled down on the imaginative and prescient to amass 10% of NEAR’s complete provide. With the disclosed 53.9 million tokens, the corporate’s treasury at the moment holds roughly 4.2% of all NEAR in circulation.
“We consider in higher particular person sovereignty and particular person possession of AI, and our fast execution on beforehand disclosed plans to amass 10% or extra of the whole NEAR provide affirms our perception that NEAR Protocol’s vertically built-in AI capabilities will facilitate this future. Our disciplined and goal=”_blank” rel=”nofollow”>reside stream on Oct. 29, confirming their plan to not solely stake the corporate’s owned NEAR with completely different validators however to run a validator node themselves in some unspecified time in the future to assist safe the community.
NEAR Worth Evaluation
As of this writing, NEAR is buying and selling near the center of a year-to-date worth vary, heading to the underside of the vary, altering fingers at $2.28 per token. At present costs, SVRN treasury’s place is price almost $123 million.
This space is marked by important demand stress and goes from round $1.80 to $2.10, traditionally representing a very good entry level to commerce the vary. Nonetheless, this area could possibly be misplaced if consumers fail to defend it as crypto quantitative tightening, as described by BitMine’s chairman, intensifies from the Oct. 10 unprecedented liquidations.
Bouncing again from this help might drive the worth upwards to the vary’s highs in a resistance zone between $3.05 and $3.50, beforehand marked by sturdy provide stress. Once more, NEAR might get away from this degree in a bullish situation if sellers fail to defend it.
NEAR year-to-date worth chart, as of Nov. 17, 2025 | Supply: TradingView
Nasdaq-listed SovereignAI’s strikes sign a rising institutional curiosity for the mission, which might create the right storm for a bullish breakout. The corporate is optimistic in regards to the NEAR Basis’s imaginative and prescient for the long run and defended its thesis on this latest press launch.
“SovereignAI believes open AI rails the NEAR Protocol allows are the important basis of a user-owned genetic economic system. NEAR was uniquely architected for high-performance AI-native use circumstances, making it the best-positioned blockchain protocol to ship this essential infrastructure.”
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Moreover, NEAR has seen rising help from business leaders due to the efficiency of NEAR Intents, a now-leading cross-chain protocol designed to summary chain interoperability, lately crossing the $5 billion all-time quantity.
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