Rapid Increase in NEAR Protocol User Count
Recently, NEAR Protocol has recorded significant growth in its user base. However, high volatility and price fluctuations are prominent in the short term. Developments in market conditions are expected to have an impact on prices.
Last Friday, there were sharp sell-offs in the cryptocurrency market due to tensions between Israel and Iran. During this process, NEAR Protocol experienced significant price volatility despite the increasing user count and platform advantages. In recent months, it has become a prominent Layer-1 blockchain solution, surpassing major competitors like Ethereum, Binance Chain, and Tron in active user count.
NEAR's low transaction fees and user-friendly structure are increasing the platform's preference rate. Additionally, developer and user-focused infrastructure improvements such as account abstraction and chain signatures are attracting the interest of blockchain and web3 application developers. The platform is also showing growth in the field of AI-based applications and web3 consumer products. Fast and low-cost transactions play an important role in users' preference for the platform.
Technical analyses indicate that despite a strong user base, short-term volatility in NEAR prices is ongoing.
Price Fluctuations and Technical Data
In the last 24 hours, NEAR's price against the dollar has decreased by approximately 12.8%, falling from $2.50 to $2.18. Analysts state that the heaviest selling pressure occurred at night with high volume and that the $2.37 level has become a strong resistance.
Finding support at $2.18, NEAR stabilized with a brief recovery in the $2.21-$2.25 range. However, the low volume of this recovery indicates that investors are remaining cautious. Price movements are showing signs of consolidation by creating lower highs and higher lows. The critical support level is around $2.20, while resistance is around $2.30.
Short-Term Price Movements
High volatility is noticeable in NEAR's hourly price chart. The rapid rise starting from $2.217 continued to $2.239. Particularly in short-term trades, significant jumps were observed, and the increase in volume was noteworthy.
The most notable movement was an approximately 4% increase that occurred between 13:31 and 13:40. During this period, the price rose to $2,235 with high trading volume, creating a new resistance. It was observed that buyers entered at $2,214 with a brief pullback at 13:54. The hourly close was at $2,223; this indicates that the price is trying to recover.
Expert Opinion and General Evaluation
A market analyst stated, 'NEAR Protocol attracts the attention of both investors and developers with its low transaction fees and user-friendly structure. However, macroeconomic developments and general market volatility may lead to fluctuations in prices in the short term.'
From a general perspective, increasing user interest and the technological innovations of the platform may contribute to a positive trend for NEAR Protocol in the medium and long term. However, global market conditions and risk appetite continue to be the fundamental elements determining the direction of price movements.
Changes in trading volume are considered an important indicator for price direction in the short term. Investors are closely monitoring developments.
NEAR Protocol is increasing its popularity among web3 and AI-based application developers thanks to its innovative features. However, it should not be forgotten that global risks may increase price volatility in the short term. If market conditions and institutional interest remain stable, NEAR Protocol is expected to continue its sustainable growth.
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