NEAR Protocol Proposes Inflation Rate Cut to 2.5% for Sustainability
The cryptocurrency market saw a 2.2% increase in global market cap, reaching $3.37 trillion between June 24, 15:00 and June 25, 14:00.
NEAR Protocol demonstrated resilience amid price fluctuations, establishing support at $2.14-$2.16 with high-volume buying at critical points.
A proposal to reduce NEAR's inflation rate from 5% to 2.5% aims to improve long-term sustainability, potentially increasing token value and aligning ecosystem incentives. This proposal is currently open for validator voting until the end of July 2025.
Technical Analysis
- NEAR-USD experienced volatility with a range of $0.088 (4.0%) during the specified period.
- A decline to $2.141 occurred at 09:00, forming a support zone around $2.14-$2.16.
- High-volume buying was noted at 08:00-09:00 with volumes of 2.99M and 2.53M, above average.
- Resistance was established near $2.22-$2.23 throughout the trading session.
- Renewed bullish momentum was observed at 13:00 with above-average volume (2.80M), indicating potential recovery continuation.
- A bullish surge occurred in the last hour, with prices rising from $2.17 to a peak of $2.19 around 13:48-13:49, gaining approximately 1.2%.
- Volume spikes were recorded during both the uptrend (131,699 at 13:44) and correction (130,287 at 13:51).
- Price action formed a channel pattern with higher lows until the correction, indicating consolidation.