NEAR Rallies 9% on Institutional Buying, SHIB Drops 10% After $70M Sell-Off, BlockDAG's 200 BDAG/Day Demo Captures Attention

Major movements in the crypto market have once again drawn attention, with NEAR Protocol surging 9%, Shiba Inu plummeting after a $70 million sell-off, and BlockDAG’s mining demo capturing widespread interest. These developments highlight the sector’s volatility and the growing emphasis on innovation and scalability.

NEAR Protocol (NEAR) closed at $2.81 after a 9% rally driven by institutional buying of 7.91 million tokens, pushing the price into a consolidation zone between $2.79 support and $2.82 resistance [1]. Analysts note that this rebound follows a dip to $2.59, with the support level seen as a critical indicator for future price direction. The surge coincided with a partnership with Everclear to enhance stablecoin settlements, targeting the $1 trillion global stablecoin market [2]. This strategic move could bolster NEAR’s long-term appeal, though short-term traders are monitoring technical levels for signs of further momentum.

In contrast, Shiba Inu (SHIB) faced a sharp 10% decline, trading at $0.00001312, after a $70 million transfer of 5 trillion SHIB from Coinbase Institutional to an unknown wallet [3]. The sudden outflow triggered a selloff, pushing daily trading volumes to $522 million. On-chain metrics suggest holders are avoiding losses, with key support at $0.00001328 acting as a potential floor. Analysts predict a period of consolidation unless the price breaches critical levels, which could extend the downturn or trigger a rebound.

BlockDAG (BDAG) emerged as a standout performer amid the market turbulence. The project’s live demo of the X1 mobile app paired with the X10 miner demonstrated a tenfold increase in mining rewards, from 20 to 200 BDAG per day [4]. This innovation has accelerated interest in the platform, particularly with presale funds surpassing $353 million and 24.3 billion tokens sold at $0.0016. The presale price remains locked until August 11, while X10 miner shipments are set to begin on August 15. Early adopters have seen a 2,660% return since the first batch, outpacing many traditional crypto projects.

The X10 miner’s release aligns with BlockDAG’s broader hardware rollout, including the X30 and X100 models, which are already in delivery. With 18,650 mining units sold and $7.6 million in miner revenue, the project’s ecosystem is expanding rapidly. The X1 app’s growing user base and presale momentum suggest BlockDAG is positioning itself as a scalable Web3 infrastructure, distinct from projects relying on speculative hype.

Market analysts emphasize that while NEAR and SHIB reflect the sector’s inherent volatility, BlockDAG’s tangible progress—from hardware delivery to mining efficiency—sets a new benchmark for value creation. The project’s $600 million presale cap and $0.05 listing price goal indicate a structured growth trajectory, contrasting with the unpredictable nature of token dumps or market corrections.

Source: [1] [NEAR Rallies 9%, $70M SHIB Dump Crashes Price, Yet BlockDAG’s 200 BDAG/Day Miner Demo Steals the Show!](https://coinmarketcap.com/community/articles/6884f304e38408559708bb76/) [2] [NEAR Rallies 9%, $70M SHIB Dump Crashes Price, Yet BlockDAG’s 200 BDAG/Day Miner Demo Steals the Show!](https://coinmarketcap.com/community/articles/6884f304e38408559708bb76/) [3] [NEAR Rallies 9%, $70M SHIB Dump Crashes Price, Yet BlockDAG’s 200 BDAG/Day Miner Demo Steals the Show!](https://coinmarketcap.com/community/articles/6884f304e38408559708bb76/) [4] [NEAR Rallies 9%, $70M SHIB Dump Crashes Price, Yet BlockDAG’s 200 BDAG/Day Miner Demo Steals the Show!](https://coinmarketcap.com/community/articles/6884f304e38408559708bb76/)