Is it the Right Time to Invest in Near Protocol as the Market Drops?
The price of Near Protocol has experienced a 5% decline in the past day, reaching $6.45 as the overall cryptocurrency market faces a 2% drop. Over the course of a week, NEAR has fallen by 9%, but it has seen a 27% increase in the past two weeks and an impressive 230% gain in the last 12 months.
The strong performance of the Near Protocol as a blockchain network has contributed to its growth, attracting new users and partnerships in recent months. This expansion suggests potential future gains for NEAR, making it one of the top-performing altcoins of the year.
Currently, NEAR is at a crucial point, with its support level being tested. If it can maintain its position above $6.40, a recovery is likely to follow. Indicators also point towards a potential recovery, with the relative strength index showing oversold conditions, which may attract new buyers. Additionally, the recent formation of a ‘death cross’ between the 30-day and 200-day averages indicates that NEAR may be nearing a bottom.
From a fundamental perspective, NEAR is one of the most promising coins in the market. Its total value locked in has increased by 15% this year due to the growing usage of its network and associated apps. The MITTE NFT platform, running on NEAR, has surpassed $1 million in trading volume in the last two months, demonstrating increasing usage. The NEAR Foundation has also announced new partnerships, including a deal with Colombian fintech LuloX to launch a stablecoin on the Near network.
Considering this growth, it is only a matter of time before the Near Protocol price experiences a significant recovery. It is possible that it may reach $7 in the coming weeks and potentially reach around $9 by the end of the summer.
While NEAR shows promise, there are also other altcoins that have the potential to outperform the market. One such example is DICE, the native token of the online crypto casino Mega Dice. Mega Dice has rapidly grown to become one of the largest online casinos in the crypto space, offering over 4,500 games, including classic casino games and sports betting. The presale of DICE has raised $600,000, and its utility within Mega Dice’s platform is expected to drive demand. With a maximum supply of 420 million tokens and the ability to stake the token, DICE may reward early investors.
To participate in the DICE sale, interested individuals can visit the Mega Dice website and connect their crypto wallet. The current price is $0.069 per token, with an increase expected once the total reaches $1 million.
Disclaimer: Cryptocurrency investments are high-risk assets, and this article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all invested capital.