NEAR Protocol Surges 10% Before Profit-Taking Halts Rally
2025-07-03 17:03:34
Main Idea
NEAR Protocol's token surged 10% due to bullish momentum and Bitwise's announcement of a NEAR ETP in Germany, but the rally was halted by profit-taking, establishing new support at $2.26.
Key Points
1. NEAR token's 10% rally was driven by Bitwise's announcement of a NEAR exchange-traded product (ETP) in Germany.
2. The rally was halted as traders began taking profits, with the token establishing a key support level at $2.26.
3. Bitwise's NEAR Staking ETP provides institutional investors with a regulated way to earn staking rewards and access the NEAR ecosystem.
4. The CoinDesk 20 Index (CD20) showed significant volatility, peaking at $1,811.11 before retracing, with aggressive buying momentum observed during specific hours.
Description
AI-focused NEAR token halted its 10% rally on Thursday as traders began to take profits from a rally that was spurred by Bitwise's announcement that it is launching a NEAR exchange traded product (ETP) in Germany. "The NEAR Staking ETP on Xetra opens a new bridge to NEAR for institutions by providing a regulated, exchange-traded way to earn staking rewards," Illia Polosukhin told CoinDesk. "Investors gain compliant access to the NEAR ecosystem and user-owned AI without needing to handle private ...
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