NEAR Surges 5% Despite Volatile Trading as Grayscale Adds Token
2025-07-09 16:38:24
Main Idea
NEAR Protocol's token surged 5% amid volatile trading, supported by strong volume and institutional backing from Grayscale's inclusion in its Decentralized AI Fund.
Key Points
1. NEAR Protocol rallied 5% in a volatile 24-hour session, closing at $2.27 with sharp intraday swings.
2. Grayscale included NEAR in its Decentralized AI Fund rebalancing, allocating a 28.41% weight.
3. The token experienced significant trading volume, with a 4.16 million unit surge driving the price from $2.18 to $2.23.
4. Key resistance and support levels were established at $2.24 and $2.21, respectively, with $2.25 holding through multiple tests.
5. A 515,008-unit spike at 14:56 triggered a reversal from $2.25 to $2.26, contributing to the session's gains.
Description
NEAR Protocol posts 5% gains in the 24-hour period ending 9 July 15:00, closing at $2.27 despite heavy volatility. The rally coincides with Grayscale's quarterly rebalancing, positioning NEAR at 28.41% of its Decentralized AI Fund. The move comes amid renewed optimism across the altcoin sector, with analysts calling for a long-awaited "altcoin season," which would likely occur if bitcoin (BTC) breaks a new record high and consolidates, prompting a capital flow to altcoins. Technical Analysis NEA...
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