As of October 2024, NEAR Protocol (NEAR) is trading at $4.71, marking a 5.51% drop in the past 24 hours. NEAR has seen significant price swings over the year, experiencing a 351.95% growth at one point, but still down 76.9% from its all-time high of $20.44 in January 2022. NEAR currently has a circulating supply of about 1.1 billion tokens and a market cap of approximately $5.2 billion, placing it in the top 25 cryptocurrencies by market capitalization.$NEAR
NEAR has a robust platform focusing on scalability and usability, especially for decentralized applications (dApps). This strength in technical fundamentals has driven periodic price spikes, such as a notable 31% surge in September 2024 as bulls eyed a key psychological resistance level at $6. These types of rallies indicate NEAR’s potential for further upward movement, especially when broader market conditions or new protocol developments align favorably.
NEAR’s Nightshade 2.0 launch and continued innovation in its ecosystem have contributed to recent price stability and growth. However, the price volatility that has characterized NEAR’s history suggests that it is important to monitor key levels and market sentiment before making any moves.
When to Buy:
Considering its current level around $4.71, NEAR appears to be trading at a discount relative to its historical highs. For those looking for an entry, this range could be appealing, but it is essential to watch for dips around $4.50 and potential breakouts above the $5 mark, as this could signal renewed upward momentum.
Keep in mind that NEAR is still in a highly volatile sector, and market conditions could influence its price. As always, entering at support levels with a long-term perspective might yield the best results. If NEAR continues its positive development trajectory, it could retest the $6 range or higher in future bullish cycles  .$NEAR
