Cryptocurrency NEAR Protocol Falls More Than 5% In 24 hours
Portfolio Pulse from Benzinga Insights
NEAR Protocol (CRYPTO: NEAR) experienced a 5.05% price drop in the last 24 hours, falling to $3.75, despite a 20% gain over the past week. The trading volume has increased by 119%, while the circulating supply decreased by 0.3%, leading to a current market cap of $3.88 billion.

February 28, 2024 | 7:02 pm
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NEAR Protocol's price dropped by 5.05% to $3.75, despite a recent upward trend, with a significant increase in trading volume and a slight decrease in circulating supply.
The short-term price drop of NEAR Protocol, despite its overall positive performance over the past week, suggests a potential market correction or profit-taking by investors. The increased trading volume indicates heightened activity, possibly as traders react to the recent price gains. The slight decrease in circulating supply could imply a tightening of available tokens, which might support price recovery in the near term. However, the immediate impact is negative due to the significant price drop.
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IMPORTANCE 90
RELEVANCE 100