NEAR Protocol Surges 6% on $10.1 Million Institutional Inflows Amid Crypto Rally

NEAR Protocol recorded a 6% gain over 24 hours, rising from $2.57 to a high of $2.73, driven by a $10.1 million inflow from institutional investors. The surge occurred amid a broader rally in digital assets, as global investment products attracted $572 million in inflows last week, with a notable portion directed toward NEAR [1]. The token’s price action reflected aggressive buying during Monday’s session, but intraday volatility led to sharp reversals at key technical levels, with a significant selloff observed between 13:38 and 13:49 GMT [1].

Trading volume during this period exceeded 8.01 million tokens, significantly higher than average daily activity, indicating heightened market participation. The price dipped to $2.634 following a rapid sell-off in which more than 200,000 tokens were traded per minute, suggesting concentrated profit-taking [1]. Despite this, the token stabilized near well-established support levels, with $2.57–$2.59 consistently providing a floor for price action [1].

The price movement of NEAR Protocol was part of a larger trend driven by institutional inflows linked to recent regulatory developments in the U.S., which expanded the eligibility of digital assets in 401(k) retirement plans. This policy shift led to $1.57 billion in late-week inflows across the broader crypto market [1]. Analysts have noted that such regulatory developments represent a milestone for the maturation of the digital asset class and signal growing acceptance among traditional financial institutions [1].

From a technical perspective, NEAR continues to trade within a defined range, with strong support near $2.630–$2.635 and resistance between $2.68 and $2.73. These levels have been tested repeatedly over recent trading sessions, confirming their significance in influencing price direction. The 24-hour average trading volume of 2.73 million tokens was far exceeded on Monday, highlighting the elevated interest from institutional and retail participants alike [1].

The recent activity also highlights the role of digital asset investment products in facilitating institutional exposure to cryptocurrencies without the need for direct token ownership. These vehicles operate similarly to traditional ETFs but focus on crypto assets, offering diversified and regulated access to the market [1]. As trading volume and investment flows continue to increase, NEAR Protocol appears to be benefiting from the broader narrative of institutional adoption in the crypto space.

Source: [1] NEAR Protocol Surges 6% as $10.1 Million Institutional Inflows Drive Crypto Rally (https://coinmarketcap.com/community/articles/689b86f291a6493f645670a6/)