NEAR Token Tanks Over 14% in Value, Hits $6.65

Over the past 24 hours, NEAR Protocol's price has plummeted by 7.84% to $6.65, continuing a downward trend observed over the past week. Its price has declined from $7.71 to its current level, representing a 14.0% loss. This price movement is accompanied by a 47.0% drop in trading volume and a 0.16% decrease in circulating supply, which now stands at 1.04 billion. NEAR Protocol currently holds the #23 market cap ranking, valued at $6.90 billion.

NEAR Protocol Suffers Double-Digit Decline in Market Value

[Date] - The value of NEAR Protocol (NEAR) has plummeted by 7.84% in the past 24 hours, reaching a price point of $6.65. This downward trend has persisted throughout the week, with NEAR losing approximately 14.0% of its value, falling from $7.71 to its current level.

An analysis of historical price movements reveals that NEAR Protocol's current volatility is relatively low. Bollinger Bands, a technical indicator measuring volatility, indicate narrow gray bands for both daily and weekly price fluctuations.

Alongside the price decline, NEAR Protocol has experienced a significant drop in trading volume, declining by 47.0% over the past week. The circulating supply of the coin has also diminished by 0.16%, bringing the total to approximately 1.04 billion.

As a result of these market fluctuations, NEAR Protocol's market capitalization has fallen to $6.90 billion. This places the cryptocurrency at the 23rd rank among all cryptocurrencies in terms of market capitalization.

The factors contributing to the decline in NEAR Protocol's value remain uncertain. However, the broader cryptocurrency market has also experienced a downward trend in recent weeks, with many coins exhibiting similar losses.

Investors should approach the cryptocurrency market with caution, as it can be highly volatile and subject to rapid price fluctuations. It is crucial to conduct thorough research and exercise sound investment strategies before investing in any cryptocurrency.

Disclaimer: This article was generated by an automated content engine and reviewed by an editor. It should not be construed as investment advice. All rights reserved.