NEAR Protocol remains in a stable condition, trading at $2.53, while the market awaits decisions on the next price direction.
Current Position of NEAR Protocol in the Market
As of now, NEAR Protocol is trading at $2.53, showing a minor increase of 1.13% for the day. The current situation is characterized by a compressed zone, awaiting a breakout signal. Analyst Lennaert Snyder noted that a breakout above resistance could lead to a price rally to $4.60, while a breakdown could retest the $2.15 level.
Tokenomics of NEAR and Its Market Impact
With a market capitalization of $3.16 billion, NEAR ranks among the top 40 digital assets. Nearly the entire supply of 1.26 billion tokens is in circulation, reducing dilution risks for long-term investors. In the last 24 hours, trading volume reached $201.89 million, creating an impressive volume-to-market cap ratio of 6.38%, ensuring sufficient liquidity for traders.
Derivatives Data and Future Projections
Derivatives data shows signs of building momentum despite mixed short-term numbers. Trading volume declined by 4.01% to $390.68 million, but open interest increased by 3.39% to $281.04 million. The long/short ratio on Binance is 1.96, indicating dominance of long positions. Over $202,000 in short positions were liquidated in the past 24 hours, further adding pressure to sellers.
NEAR Protocol remains in an interesting market position, with strong tokenomics and increasing open interest, which may herald future price movements.
