$NEAR I came across it on the biggest losers list this afternoon, so here’s a quick primer for friends who don’t follow it.
NEAR is an established blockchain whose main selling points are sharding and usability. It rode the AI narrative to some buzz a couple of years ago, but that has nothing to do with this move. There’s only one news item: a hackathon with a prize pool of 250,000 U, paid out in NEAR. 250,000 U, for a blockchain of this size—put bluntly, it’s like handing the community a little red envelope just to stay visible.
But look at its mid-term levels: it’s up 153% from 90 days ago and 236% from six months ago. This isn’t a neglected coin; it’s grinding halfway up the mountain after a huge rally. It’s down 6.7% today and 7.3% over seven days, with volume still at 70% of normal—few people are selling, but few are buying either. No one wants to be the first to reach in at this level.
My read: a hackathon plants seeds for the long term; it’s not a short-term spark. If you want to bet this narrative can drive a rally before the announcement, play with small money and don’t get carried away. When coins like this turn against you, getting cut in half is just the starting point—you might not even get out in time. What I said at noon still stands; the market hasn’t given me a reason to change my mind. $NEAR
NEAR is an established blockchain whose main selling points are sharding and usability. It rode the AI narrative to some buzz a couple of years ago, but that has nothing to do with this move. There’s only one news item: a hackathon with a prize pool of 250,000 U, paid out in NEAR. 250,000 U, for a blockchain of this size—put bluntly, it’s like handing the community a little red envelope just to stay visible.
But look at its mid-term levels: it’s up 153% from 90 days ago and 236% from six months ago. This isn’t a neglected coin; it’s grinding halfway up the mountain after a huge rally. It’s down 6.7% today and 7.3% over seven days, with volume still at 70% of normal—few people are selling, but few are buying either. No one wants to be the first to reach in at this level.
My read: a hackathon plants seeds for the long term; it’s not a short-term spark. If you want to bet this narrative can drive a rally before the announcement, play with small money and don’t get carried away. When coins like this turn against you, getting cut in half is just the starting point—you might not even get out in time. What I said at noon still stands; the market hasn’t given me a reason to change my mind. $NEAR
