The NEAR Foundation announced the launch of a new project called "NEAR DA", which aims to provide an alternative venue for Ethereum and its L2 network to handle rapidly growing data volumes. The data publishing cost of NEAR DA may be 8000 times lower than that of Ethereum, providing immediate benefits for Web3 founders exploring modular blockchain development. Early users of NEAR DA include Starknet's Madara, Caldera, and Movement Labs. This news was announced at the annual Nearcon conference on Wednesday.

Wintermute founder and CEO Evgeny Gaevoy has accused NEAR Foundation and Aurora of failing to convert $11 million worth of USN stablecoins. Gaevoy claims that NEAR refused to honor their commitment to facilitate the sale of $11.2 million worth of USN for the FTX estate, despite previously earmarking money for it. Wintermute executed the transaction on the basis that it would be able to redeem USN to USDT on a one-to-one basis, but NEAR allegedly "refused to honor their commitments" and offered a final settlement of 20% of the $11 million. Wintermute plans to pursue legal action against NEAR and Aurora.

According to market data on November 5th, NEAR surged to touch $1.677 and is now trading at $1.648, with a 24-hour increase of 11.58%.

According to OKX market data, NEAR broke through $1.55 and is currently priced at $1.563, with a 24-hour increase of 19%.