{"id":67265,"date":"2023-12-20T12:47:51","date_gmt":"2023-12-20T16:47:51","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=67265"},"modified":"2023-12-20T12:47:53","modified_gmt":"2023-12-20T16:47:53","slug":"near-protocol-surges-20-with-long-positions-leading","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/near-protocol-surges-20-with-long-positions-leading\/","title":{"rendered":"NEAR Protocol Surges 20% With Long Positions Leading"},"content":{"rendered":"\n

A market trend <\/a>toward long positions and an increase in partnerships contributed to a 20% surge in the value of NEAR Protocol's token.<\/p>\n\n\n\n

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NEAR Protocol Surges 20% With Long Positions Leading<\/figcaption><\/figure>\n\n\n\n

On Wednesday, the price of the sharded proof-of-stake blockchain NEAR Protocol increased by 20%. As of press time, the NEAR token of the NEAR Protocol is trading at $2.88, according to data from CoinGecko.\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>\n\n\n\n

NEAR has increased by nearly 30 percent in the past week. Currently, the NEAR Protocol is valued at around $2.89 billion in the market and has 1 billion NEAR tokens in circulation.<\/p>\n\n\n\n

Heightened Investor Interest in NEAR.<\/h2>\n\n\n\n

The efficacy of the token has exhibited variability over distinct time periods. For the previous hour, NEAR has been kept inaudible. The value of NEAR has nearly doubled in the past year. Nevertheless, NEAR Protocol's price peaked at $20.44<\/strong> in January 2022, almost two years ago, which is still 86% below its all-time maximum.<\/p>\n\n\n\n

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NEAR\/USDT daily chart on TradingView<\/figcaption><\/figure>\n\n\n\n

The substantial surge in the price of NEAR can be attributed to investors' increasing engagement and interest in the market. The long-to-short ratio for NEAR Protocol derivatives on Coinglass has remained above 1 for the past twenty-four hours, suggesting a marginally stronger predilection towards long positions.<\/p>\n\n\n\n

Furthermore, the volume of NEAR on the derivatives market has increased by more than 300 percent, reaching $1.27 billion. Simultaneously, there has been a 40% increase in open interest, representing the aggregate value of outstanding derivative contracts, reaching $144.70 million. This information reflects the market's generally optimistic sentiment.<\/p>\n\n\n\n

In contrast, near 72, the Relative Strength Index (RSI) indicates that momentum is overbought. This suggests that NEAR may become overvalued and be poised for a corrective pullback or trend reversal.<\/p>\n\n\n\n

IDS Inc., situated in the United States, and NEAR Protocol forged a strategic alliance within the previous week. According to ANI, the collaboration is anticipated to accelerate the growth of the Bharat Blockchain Network.<\/use><\/svg><\/span><\/a><\/p>\n\n\n\n

Before this, the NEAR Foundation and Polygon Labs announced<\/a> a collaboration to develop zkWASM, a zero-knowledge (ZK) prover for WASM blockchains, in November. <\/p>\n\n\n\n

According to reports, this partnership combines the zero-knowledge research expertise of Polygon Labs with the WASM WebAssembly technology knowledge of the NEAR Foundation for the zkWASM prover.<\/p>\n","protected":false},"excerpt":{"rendered":"

A market trend toward long positions and an increase in partnerships contributed to a 20% surge in the value of NEAR Protocol’s token. On Wednesday, the price of the sharded proof-of-stake blockchain NEAR Protocol increased by 20%. As of press time, the NEAR token of the NEAR Protocol is trading at $2.88, according to data […]<\/p>\n","protected":false},"author":53,"featured_media":67271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[6199,17632,6198],"class_list":["post-67265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-near","tag-near-prices","tag-near-protocol-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/12\/NEAR-Protocol.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/67265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=67265"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/67265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/67271"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=67265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=67265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=67265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}