CRYPTO NEWS: THE DISPUTE BETWEEN NEAR AND MARKET BULLS DEMONSTRATES THAT THE PROTOCOL MIGHT HAVE ITS OWN MIND.

THE DISPUTE BETWEEN NEAR AND MARKET BULLS

THE DISPUTE BETWEEN NEAR AND MARKET BULLS DEMONSTRATES THAT THE PROTOCOL MIGHT HAVE ITS OWN MIND. POSITIVE PRICE CORRECTIONS IN THE CRYPTOCURRENCY MARKET OVER THE PAST MONTH HAVE CAUSED ALTERNATIVE CURRENCIES LIKE DOGECOIN [DOGE] TO APPRECIATE BY 100%. THE MARKET CAPITALIZATION OF ALL CRYPTOCURRENCIES INCREASED BY 9% DURING THE PREVIOUS 30 DAYS, ACCORDING TO DATA FROM COINGECKO.

THE DISPUTE BETWEEN NEAR AND MARKET BULLS DEMONSTRATES THAT THE PROTOCOL MIGHT HAVE ITS OWN MIND:

NEAR, ON THE OTHER HAND, BROKE AWAY FROM THE REST OF THE MARKET AND REPORTED A PRICE FALL. 

HERE IS AMBCRYPTO’S FORECAST FOR NEAR’S PRICE IN 2023 AND 2024:

NEAR REACHED A HIGH OF $3.68 A MONTH EARLIER BUT SUBSEQUENTLY FELL TO $0.28 ON NOVEMBER 2. BUT SINCE THEN, ITS PRICE HAS RISEN BY 10%, AS PER INFORMATION FROM COINMARKETCAP.

THE DISPUTE BETWEEN NEAR AND MARKET BULLS
THE DISPUTE BETWEEN NEAR AND MARKET BULLS DEMONSTRATES THAT THE PROTOCOL MIGHT HAVE ITS OWN MIND

NEAR THE END OF OCTOBER, A NEW BULL CYCLE BEGAN, AND THIS PRICE SURGE OCCURRED AT THE SAME TIME. ON A DAILY CHART, THIS WAS THE TIME THAT THE MOVING AVERAGE CONVERGENCE DIVERGENCE (MACD) LINE FOR NEAR CROSSED ITS TREND LINE HIGHER.

THE PRICE CHART FOR NEAR SHOWED THAT BUYING PRESSURE HAD BEEN STEADILY INCREASING SINCE NOVEMBER 2. ITS RELATIVE STRENGTH INDEX (RSI), WHICH BROKE OVER THE NEUTRAL ZONE OF 50 TWO DAYS AGO, WAS ALSO 58 AT THE TIME OF PUBLICATION. ADDITIONALLY, AT 56, ITS MONEY FLOW INDEX (MFI) INDICATED THAT TOKEN ACCUMULATION HAS BEEN RISING STEADILY.

NEAR IN THE THIRD QUARTER:

MESSARI EVALUATED THE EFFECTIVENESS OF NEAR PROTOCOL IN Q3 2022 IN A BRAND-NEW REPORT TITLED “STATE OF NEAR Q3 2022.” THIS SHOWED THAT OVER THE COURSE OF THREE MONTHS, THE SMART CONTRACT PLATFORM’S REVENUE TOOK A CONSIDERABLE HIT.

BETWEEN JULY AND SEPTEMBER, NEAR PROTOCOL REVENUE WAS $220,000, AN 82% DECREASE FROM Q2’S $1.19 MILLION. MESSARI DISCOVERED FURTHER THAT A “35% LOSS IN TRANSACTIONS COUPLED WITH SUB-ONE-CENT TRANSITION FEES” WAS THE CAUSE OF THE SUBSTANTIAL DECLINE IN REVENUE.

ALONG WITH A DROP IN REVENUE, DEFI TVL ON THE NETWORK DECLINED BY 30% OVER THE TIME PERIOD UNDER CONSIDERATION. HOWEVER, MESSARI DISCOVERED THAT WHILE THE SMART CONTRACT PLATFORM’S TVL DECREASED ON A QOQ BASIS, IT INCREASED 10X ON A YOY BASIS. WITH A TVL OF $513 MILLION, NEAR COMPLETED Q3.

FURTHER INFORMATION FROM MESSARI REVEALED THAT SINCE THE YEAR’S COMMENCEMENT, NFT SALES ON NEAR HAVE BEEN STEADILY FALLING. ADDITIONALLY, ACCORDING TO NEAR, “16,000 NFT SALES (-68% QOQ) AND 20,000 ACTIVE WALLETS (-66% QOQ) WERE REGISTERED, WITH AN EQUAL NUMBER OF NFT BUYERS AND NFT SELLERS.”

FOLLOW US ON:

HARI INFO SECTION H.D.C.

FACEBOOK YOUTUBE

HARI DENTAL CARE

HARI WEB STORIES H-SHOPEE

HARI ENTERPRISES

CRYPTO NEWS: THE DISPUTE BETWEEN NEAR AND MARKET BULLS DEMONSTRATES THAT THE PROTOCOL MIGHT HAVE ITS OWN MIND.

Leave a Reply

Scroll to top
error: Content is protected !!