In the past two weeks, the crypto market in general and NEAR Protocol in particular have witnessed significant movements. Let’s review the trends of this altcoin and predict the situation in the near future.
Recent Trends of NEAR Protocol
In the past 15 days, NEAR Protocol has experienced a series of complex price fluctuations. From December 4 to December 7, the price of NEAR coin increased continuously, from 7.377 USD to a peak of 8.024 USD. This growth was also accompanied by an increase in market capitalization, from 8.977 billion USD to nearly 9.773 billion USD. However, afterwards, NEAR experienced a price shock on December 10, falling sharply to 6.530 USD.
The main reason for this sudden drop remains unclear, but it may be attributed to fluctuating market conditions or psychological impacts from news related to Bitcoin or other altcoins. In recent days, the price of NEAR has fluctuated below 7 USD and has only increased slightly, insufficient to trigger a strong recovery.
Analysis of Market Capitalization and Trading Volume
Price and market capitalization are not the only noteworthy points. We should also consider that trading volume has significantly decreased since December 8, particularly on December 15 when trading volume hit a record low of just over 469 million USD. Such a decrease in trading volume suggests that many investors may be sitting on the sidelines, waiting for clearer signals.
Forecast for the Next 15 Days
With the current price at 6.33 USD and market capitalization at 7.74 billion USD, NEAR Protocol can maintain stability in the short term. Forecasts for the next 15 days suggest that NEAR is likely to hold between an average of 6.5 USD and 7 USD, unless unexpected developments occur in the coin market or strong influences from Bitcoin.
In particular, with the growing trend of countries potentially establishing national Bitcoin reserves and concerns about AI-related scams in the coming year, significant fluctuations across the crypto market could provide an opportunity for NEAR Protocol to gain further attention.
In conclusion, although NEAR Protocol is in a phase of fluctuation, investors need to continue monitoring the situation and stay updated on other altcoins as well as Bitcoin's movements to make informed investment decisions.
