NEAR Protocol Plunges 4% Before Staging Recovery Amid Market Volatility
The cryptocurrency market turned green over the past 24 hours from 24 June 15:00 to 25 June 14:00, with the global market cap increasing by 2.2% to $3.37 trillion.
NEAR Protocol showed resilience during this period despite experiencing sharp price swings, establishing support at $2.14-$2.16 with high-volume buying emerging at critical points.
In a significant development for NEAR's economic model, a proposal has been put forward to cut the protocol's inflation rate from 5% to 2.5%.
This strategic move aims to enhance long-term blockchain sustainability, potentially boost token value, and better align ecosystem incentives. The proposal is currently subject to validator voting through the end of July 2025, demonstrating NEAR's commitment to decentralized governance.
Technical Analysis
- NEAR-USD exhibited significant volatility during the 24-hour period from 24 June 15:00 to 25 June 14:00, with an overall range of $0.088 (4.0%).
- A sharp decline to $2.141 at 09:00 before recovering formed a key support zone around $2.14-$2.16.
- High-volume buying emerged at the 08:00-09:00 candles (volumes of 2.99M and 2.53M respectively, well above the 24-hour average).
- Resistance established near $2.22-$2.23 throughout the trading session.
- The 13:00 candle showed renewed bullish momentum with above-average volume (2.80M), suggesting potential continuation of the recovery trend.
- During the last 60 minutes from 25 June 13:06 to 14:05, NEAR-USD exhibited a bullish surge followed by a sharp correction.
- The price rallied from $2.17 to peak at $2.19 around 13:48-13:49, gaining approximately 1.2%.
- Notable volume spikes occurred during the uptrend (131,699 at 13:44) and during the correction (130,287 at 13:51).
- The price action formed a clear channel pattern with higher lows until the correction, suggesting continued consolidation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI Capital Expenditure Faces a Dilemma: Accelerating Puts Pressure on Cash Flow, Slowing Down Undermines the Growth Narrative
Nomura Securities believes that the AI investment narrative is mired in an internal contradiction: if hyperscale cloud providers accelerate capital expenditures, their free cash flow will continue to be drained, raising doubts about the sustainability of financing; if they slow down, it would indicate a loss of confidence in AI demand and profitability expectations. Both paths lead to sell-offs. The crowded long positions accumulated during the AI agent boom in September have triggered large-scale stop-losses under negative catalysts, spreading to US Treasury bonds, exchange rates, and commodity markets, resulting in systemic deleveraging.
Amazon (AMZN.US) CEO: AWS cloud computing capacity is fully booked until 2027, and a large amount of capacity has already been committed by customers for 2028
On Friday, Jassy stated that with the growing demand for artificial intelligence (AI) infrastructure, Amazon AWS cloud computing capacity is virtually sold out through 2027, and a significant portion of 2028 capacity has also been pre-booked by customers.
AI trading collapse: Will Anthropic postpone its "Super IPO"? The "scheduled listing date" in mid-November is approaching.
The time window is extremely tight—according to SEC regulations, the S-1 filing must be submitted by next week at the latest, and prediction markets estimate the probability of a listing within the year at around 80%. The sell-off in the AI sector has cast a shadow over the listing prospects, and the previous plan to go public in September has already fallen through. Several market participants say that Anthropic may face pressure to delay its listing, but some analysts point out that the company's urgent need for capital may drive it to stick to the original plan.
Crypto prices
More
