OP Drops 12.82% in 7 Days Amid Ecosystem Developments

On OCT 30 2025, OP rose by 1.2% within 24 hours to reach $0.4003, but the broader picture shows a downward trend, with the token dropping by 12.82% in the last 7 days, 39.61% over one month, and 76.89% over the past year. The price movement reflects ongoing challenges in market sentiment despite recent developments involving the OceanPal ecosystem.

OceanPal (NASDAQ: OP), which has been making headlines in both crypto and industrial markets, has announced a significant investment in SovereignAI as part of its broader expansion into artificial intelligence and blockchain integration. The company raised $120 million for this initiative, aiming to strengthen the NEAR Protocol ecosystem by acquiring up to 10% of NEAR tokens and building a dedicated NEAR Protocol treasury in collaboration with the Near Foundation.

This move underlines OceanPal’s growing role in bridging AI infrastructure with blockchain innovation. The initiative is expected to enhance the commercial viability of the NEAR Protocol and expand its utility across multiple blockchain ecosystems. Such strategic investments may contribute to broader adoption and integration of cross-chain functionalities, a key focus area for OceanPal and its partners.

Meanwhile, the NEAR Protocol’s native token, NEAR, has shown mixed performance in recent weeks. Despite a 4.67% weekly increase, it remains under pressure from key technical indicators. NEAR is currently valued at $2.30, with the 20-day and 50-day simple moving averages acting as resistance levels. The 20-day SMA is at $2.56, while the 50-day SMA is at $3.30, with the 200-day SMA at $4.21 marking a significant long-term resistance. Analysts project a positive shift may occur only if the token sustains a move above $2.56 and gains enough momentum to break through $4.21.

Relative Strength Index (RSI) readings indicate a bearish bias, with the 14-period RSI currently at 43.59. This suggests limited buying pressure and continued seller dominance until the index recovers above 50. Support levels are currently identified at $2.20 and $2.00, with a breakdown below $2.00 signaling deeper bearish potential.

In addition to technical indicators, the NEAR Protocol is gaining traction in cross-chain functionalities through its NEAR Intents protocol, which is approaching $3 billion in total volume. As of October 30, NEAR Intents has facilitated $2.95 billion in swaps across 6.41 million transactions, supporting 124 assets on over 20 blockchains. In the last month alone, it has generated $1.56 billion in volume, driven by growing adoption from diverse blockchain ecosystems.

Prominent figures such as Eric Wall, a Bitcoin advocate and co-creator of the Taproot Wizards, and Brendan Farmer, co-founder of Polygon, have publicly endorsed NEAR Intents. Wall highlighted the protocol’s ability to facilitate cross-chain transactions for “any coin to any address,” while Farmer praised its role in enabling private money to interact with the broader crypto ecosystem. Solana-based protocols like Raydium have also implemented NEAR Intents for cross-chain swaps, signaling increasing industry-wide acceptance.

Backtest Hypothesis

The recent volatility in OceanPal's stock price presents an opportunity to examine the efficacy of strategies designed to respond to sharp declines. A backtest can be constructed by defining the stock in question and the specific criteria for a “down 10%” event. For this analysis, OceanPal (OP) would be the focal stock. The “down 10%” event could be defined as a single-day drop of 10% or more from the previous close, or alternatively, a cumulative drawdown of 10% over several days.

The backtest would run from January 1, 2022, through October 30, 2025, assessing how the stock has historically performed under similar conditions. This approach would help determine whether predefined buy or sell signals during such events could have produced a consistent return, offering insights into the stock’s behavior during periods of heightened volatility and potential market correction.