NEAR Protocol ($NEAR) Crypto Forecast: Down 5.8% Today

What is NEAR Protocol?

NEAR is a decentralized application platform aimed at simplifying blockchain development. The platform utilizes the NEAR cryptocurrency token to support applications. Recent fluctuations have been observed in the wider cryptocurrency market.

Why is NEAR Protocol going down?

NEAR crypto is down 5.8% on Dec 22, 2024 1:01

• NEAR saw a decline in value, potentially influenced by the entry of a new competitor, Remittix (RTX), sparking concerns about market share.
• The establishment of a Polkadot Trust Fund in Delaware may have drawn investor focus away from NEAR, impacting its price negatively.
• Reports of two cryptocurrencies anticipated to achieve a $10 billion market cap by 2025 likely diverted attention from NEAR, prompting a sell-off.
• The release of TurboChain by Aurora Labs, enabling integration with DeFi, may have directed investor interest to other projects within the ecosystem, leading to bearish sentiment for NEAR.

NEAR Price Chart

NEAR Technical Analysis

NEAR News

The Rise of Remittix (RTX): A New Competitor to Near Protocol (NEAR) And Avalanche (AVAX)

The Rise of Remittix (RTX): A New Competitor to Near Protocol (NEAR) And Avalanche (AVAX)

https://coinpedia.org/press-release/the-rise-of-remittix-rtx-a-new-competitor/

21Shares Registered Polkadot Trust Fund in Delaware

21Shares Registered Polkadot Trust Fund in Delaware

https://coincu.com/297951-21shares-registered-polkadot-trust-fund/

2 cryptocurrencies to reach a $10 billion market cap in 2025

2 cryptocurrencies to reach a $10 billion market cap in 2025

https://finbold.com/2-cryptocurrencies-to-reach-a-10-billion-market-cap-in-2025/

Cryptocurrency Market Sees Mixed Performance With Notable Gains and Losses

Cryptocurrency Market Sees Mixed Performance With Notable Gains and Losses

https://www.binance.com/en/square/post/12-18-2024-cryptocurrency-market-sees-mixed-performance-with-notable-gains-and-losses-17713291111946?_ul=aHR0cHM6Ly9hcHAuYmluYW5jZS5jb20vdW5pLXFyL2NhcnQvMTc3MTMyOTExMTE5NDY_cj01Mjc2NDgzMTAlNUN1MDAyNmwlM0RqYQ&ref=527648310%5Cu0026l%3Dja

Aurora Labs Introduces TurboChain, Driving Turbo Ecosystem’s Integration With DeFi

Aurora Labs Introduces TurboChain, Driving Turbo Ecosystem’s Integration With DeFi

https://beincrypto.com/turbochain-launch-turbo-token-defi/

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NEAR Protocol Price History

18.11.2024 - NEAR Crypto was down 5.8%

• NEAR's bearish movement could be attributed to profit-taking by investors after a period of price appreciation.
• The potential growth of 2 cryptocurrencies to a $10 billion market cap in 2025 may have diverted investor attention from NEAR temporarily.
• The expansion of Grayscale's crypto product suite to support 30 digital assets might have reduced interest in specific tokens like NEAR.
• The overall positive sentiment towards Bitcoin and the anticipation of an altcoin bull market could have influenced investors to reposition their assets, affecting NEAR's price negatively.

20.11.2024 - NEAR Crypto was down 21.0%

• A new competitor, Remittix (RTX), may be drawing investor attention away from NEAR.
• The registration of a Polkadot Trust Fund in Delaware could have negatively impacted NEAR's performance.
• News about two cryptocurrencies expected to reach a $10 billion market cap by 2025 may have prompted some investors to shift their funds away from NEAR.
• Grayscale's expansion of its crypto product suite to include support for 30 digital assets might have contributed to a decrease in NEAR's market share and a bearish price movement.

20.11.2024 - NEAR Crypto was down 6.3%

• NEAR's bearish movement could be attributed to profit-taking by investors after a recent price surge.
• The registration of a Polkadot Trust Fund in Delaware may have diverted some investor attention away from NEAR.
• The overall market sentiment of mixed performance could have also contributed to the downward pressure on NEAR.
• The expansion to support 30 digital assets may have shifted investor focus towards other cryptocurrencies, impacting NEAR's price negatively.

12.11.2024 - NEAR Crypto was up 8.2%

• NEAR's strong bullish movement today could be attributed to positive sentiment in the overall cryptocurrency market.
• The resistance faced by another cryptocurrency and NEAR Protocol may have led investors to shift their focus towards NEAR, driving up its price.
• The speculation around NEAR hitting $20 again could have also attracted traders looking to capitalize on potential price movements, further fueling the bullish momentum.
• Overall, NEAR's performance today showcases investors' confidence in the token's technology and potential for future growth.

11.11.2024 - NEAR Crypto was up 5.4%

• NEAR experienced a strong bullish movement today, likely driven by positive analyst forecasts and updates on its potential for a new record-high surge.
• The scalability of NEAR, as well as its comparison to other protocols like Avalanche, might have contributed to investor optimism and buying pressure.
• Analyst sentiment towards NEAR appears to be bullish, with expectations of further price appreciation in the near future.
• Overall, the positive sentiment and analyst predictions seem to have fueled the bullish momentum for NEAR in today's market.

13.11.2024 - NEAR Crypto was down 5.1%

• NEAR experienced a bearish movement today, possibly due to investors taking profits following a recent surge in its price.
• The current focus on Bitcoin's price surge and the potential for altcoin market growth could have diverted attention from NEAR temporarily, resulting in a negative impact on its price.
• Technical analysis cautioning about specific price levels may have prompted selling pressure on NEAR.
• NEAR and protocols like Avalanche encountering resistance might have contributed to a general sense of investor caution, influencing the bearish trend.

21.11.2024 - NEAR Crypto was down 5.1%

• NEAR experienced a bearish movement today possibly due to the emergence of a new competitor, Remittix (RTX), which is gaining traction in the market.
• The news of a new altcoin's 200% surge surpassing NEAR's market cap could have also contributed to the bearish trend.
• The overall mixed performance in the cryptocurrency market with notable gains and losses might have added to the selling pressure on NEAR.
• While NEAR's technology and platform remain strong, increased competition and shifting investor sentiment towards other projects could be impacting its short-term price action.

19.11.2024 - NEAR Crypto was down 14.9%

• NEAR saw a downward movement, potentially influenced by investors taking profits following a recent price increase.
• The registration of a Polkadot Trust Fund in Delaware by 21Shares could have drawn investor attention away from NEAR.
• Predictions regarding the market cap of two cryptocurrencies in 2025 may have directed investor interest towards other possible gainers, impacting NEAR.
• The mixed performance of the cryptocurrency market might have fostered a sense of caution among investors, contributing to the bearish trend observed in NEAR.

22.11.2024 - NEAR Crypto was down 5.8%

• NEAR saw a decline in value, potentially influenced by the entry of a new competitor, Remittix (RTX), sparking concerns about market share.
• The establishment of a Polkadot Trust Fund in Delaware may have drawn investor focus away from NEAR, impacting its price negatively.
• Reports of two cryptocurrencies anticipated to achieve a $10 billion market cap by 2025 likely diverted attention from NEAR, prompting a sell-off.
• The release of TurboChain by Aurora Labs, enabling integration with DeFi, may have directed investor interest to other projects within the ecosystem, leading to bearish sentiment for NEAR.

17.11.2024 - NEAR Crypto was up 5.1%

• NEAR's strong bullish movement is likely due to the positive sentiment in the overall cryptocurrency market, with Bitcoin reaching new heights and the altcoin bull market gaining momentum.
• Grayscale's expansion to support 30 digital assets, including potential interest in NEAR, may have boosted investor confidence in the token.
• Speculation surrounding NEAR hitting $20 again may have generated excitement and attracted more traders to the token, contributing to its upward movement.
• The resistance faced by NEAR and other protocols like Avalanche could indicate profit-taking by some investors, but the scalability of projects like 1Fuel continues to impress analysts, hinting at long-term potential for NEAR.

13.11.2024 - NEAR Crypto was down 5.6%

• NEAR's bearish movement could be attributed to profit-taking by investors after a recent price surge.
• The resistance faced by NEAR could be a result of investors shifting their focus towards other blockchain projects like Solana and Avalanche, as indicated by the developments and scalability of these projects.
• The uncertainty around NEAR hitting $20 again might have added selling pressure, leading to the bearish movement.
• The overall bullish sentiment towards altcoins, including Bitcoin, might have diverted attention and capital away from NEAR, impacting its price negatively.

18.11.2024 - NEAR Crypto was down 5.2%

• NEAR exhibited bearish movement today amidst a varied performance in the cryptocurrency market.
• Grayscale's increase in supporting 30 digital assets possibly drew focus away from NEAR.
• The emphasis on Solana as a preferred option for new blockchain developers might have redirected interest from NEAR.
• Speculation about NEAR reaching $20 again potentially generated uncertainty and influenced the bearish trend.