NEAR Protocol Rebounds 9% on High Volume and Strategic Everclear Partnership
Over the 24-hour period ending July 24 at 15:00 UTC, NEAR Protocol showed significant volatility, with its token price fluctuating between $2.59 and $2.83. The early session saw a sharp decline from $2.82 to $2.59, accompanied by heavy trading volume of 7.91 million units, which helped establish a strong technical support level.
Following the dip, buyers moved in decisively, lifting the price back to $2.81 by the close of the session, reflecting strong demand at lower levels.
During the final hour, NEAR continued to push upward, gaining 2% from $2.72 to $2.79 despite some profit-taking near resistance at $2.82. This activity formed a well-defined trading channel, with support at $2.79, signaling healthy consolidation and likely institutional accumulation.
In parallel, NEAR announced a strategic partnership with Everclear to develop infrastructure for cross-chain stablecoin settlements. This collaboration aims to capture a share of the $1 trillion digital asset clearing market by leveraging Everclear’s expansion across 23 blockchains combined with NEAR’s Chain Abstraction technology for seamless and cost-efficient cross-chain transactions.
The partnership addresses ongoing regulatory and liquidity challenges within the crypto ecosystem, strengthening NEAR’s position and long-term growth outlook amid market fluctuations.
Technical Snapshot
- Price ranged 9% intraday between $2.59 and $2.83
- Early sell-off to $2.59 with volume of 7.91 million units
- Strong support confirmed at $2.59 amid institutional buying
- Price recovery to $2.81 by session end
- Final hour 2% price gain from $2.72 to $2.79
- Trading channel formed with support at $2.79 and resistance at $2.82
- Profit-taking followed intraday peak of $2.82
