NEAR Rises 2% as Institutional Traders Drive Volume Amid Volatile Swings
Main Idea
NEAR Protocol's price rose 2% amid increased institutional trading volume and market volatility, highlighting ongoing market and regulatory challenges.
Key Points
1. NEAR Protocol's price increased by 1.93% in 24 hours, moving from $2.59 to $2.64, with a trading range of $2.54 to $2.71.
2. Institutional trading drove much of the activity, with volume surging to 18.9 million units, focusing on the $2.62 to $2.66 zone.
3. Market volatility was evident with a 6.84% price range, and a sharp rejection at $2.67 indicated mixed trading patterns.
4. Analysts noted the influence of corporate treasuries and hedge funds in the trading activity.
5. The article also briefly mentions other market movements, such as Aptos' APT rising 7% and Ether surpassing $4K.
Description
NEAR Protocol rose 1.93% in the 24 hours to 15:00 UTC on Aug. 8, moving from $2.59 to $2.64. The token traded between $2.54 and $2.71, a 6.84% range that industry executives say highlights ongoing structural weaknesses in crypto markets and the need for clearer regulation. “These volatile trading patterns highlight the need for more robust market infrastructure and clearer regulatory frameworks,” said a senior executive at a major digital asset trading firm. Institutional flows drove much of the...
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