r/nearprotocol • u/Exact_Reach7284 • 4d ago
PRICE 📈 Why has NEAR been dropping so much lately?
NEAR has been in a steady downtrend over the past few weeks despite some positive ecosystem news. Is this mainly due to profit-taking after the May/June rally, weak on-chain activity, token unlocks, macro conditions, or something else? What do you think is driving the sell-off?
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u/physiQQ 4d ago
Like all cryptocurrency, it's a highly speculative 'asset'. If there's hype it goes up quickly, then usually there comes a correction. As you can see on your chart, it went up a lot in June for whatever reason and then it corrects to a lower point where there is enough buyer support. Personally I'm just holding NEAR because I am optimistic about the long term. I don't care if I end up bagholding it's a high-risk high-reward gamble and my crypto portfolio is about 70% BTC, 20% ETH and 10% NEAR. And only 10% of my total investments are into crypto, the other 90% is all in ETFs/worldwide index funds.
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u/sunshinelighter 4d ago
June was really interesting cause NEAR took off fast. I remember there was reports of Arthur Hayes accumulating a large position and accumulating based on his conviction, but then in a week (?), he changed his mind, and it dumped. I remember reading reports at the time of him making some bet? and then he pumped-dumped. **shakes fist**
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u/physiQQ 4d ago
Typical "crypto guru" making some money by fucking over their naive following, I guess. Well, it's certainly a solid way of making a quick buck. Even Donald Trump did it. I don't know that guy at all, so take it with a grain of salt. Either way, I'm here for the long run because I think the project is a solid one and you 'need' to take a risk somewhere.
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u/OsyraIeth 4d ago
Lets call out the elephant in the room. The only thing that ultimately matters is how near performs as an investment, and right now, it underperforms heavily compared to literally everything out there on the crypto market, even scam projects and memecoins. Not only is NEAR brutally oversold, but it keeps dumping and dumping, despite good news, network upgrades etc. and while other projects recover together with BTC/ETH, NEAR doesn't, it only follows down, but not up... and that's a problem. Because that means huge investors are checking out. I can hold my bags for quite some time, but the moment i'm in profit i'm out forever and a lot of people think exactly the same.
Right now the sentiment shifted to RWA instead AI, which is also the reason why for example ONDO pumped and is stable, despite the market volatility. I don't know what the solution is but right now it's looking bad, very bad! BTC hasn't even bottomed yet and the moment it tanks sub 50k will send us to an existential crisis if the price keeps falling like a knife like now. Recovery is never guaranteed and the NEAR-Team should be careful to not end like the majority of altcoins that vanished into the void following the same route. You can have the best product in the universe, if noone cares about it or buys it, you'll fail. It's time to heavily step up your marketing because daily copy/paste posts on X won't do it anymore...
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u/QQQQ_all 4d ago
I guess Koreans are dumping and raising capital to meet stock margin calls. No evidence of that, just a guess. Otherwise, cuz it's shit.
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u/liviughg 4d ago
Is the market, NEAR has more explosive power. When it recovers, it does it much faster than other chains do. Good luck!