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By Oliver Knight, CD Analytics
Updated Jun 12, 2025, 3:04 p.m. Published Jun 12, 2025, 3:03 p.m.
- NEAR Protocol experienced an 8.6% decline, dropping from $2.696 to $2.492 with significant sell-off volume spikes.
- Despite price struggles, NEAR has become the second most used layer-1 blockchain with 46 million monthly active users in May 2025, trailing only Solana.
- DWF Labs has challenged NEAR Protocol to reduce token inflation from 5% to 2.5%, offering to purchase an additional 10 million tokens if implemented.
The NEAR Protocol token is navigating through a period of heightened volatility, showing a clear downtrend with strong resistance at $2.730 and support emerging at $2.445.
Recent price action indicates modest recovery from lows but remains below key resistance levels, suggesting continued bearish sentiment despite entering a slight consolidation phase.
STORY CONTINUES BELOW
This technical pressure comes at a time when NEAR’s network fundamentals show remarkable growth, having surpassed Ethereum, Binance Chain, and Tron in monthly active users.
Technical analysis
- NEAR-USD dropped 8.6% from $2.696 to $2.492 over the analyzed period, showing clear downward pressure.
- Significant volume spikes occurred during key sell-offs at 17:00 on June 11 and 08:00 on June 12, both coinciding with price breakdowns.
- Strong resistance has formed at $2.730, while support emerged at $2.445 with high volume, suggesting potential stabilization.
- Recent hourly data shows a 0.7% recovery from a local bottom of $2.476, supported by volume spikes at 13:38, 13:54, and 14:01.
- Price formed an ascending channel with support at $2.481 and resistance at $2.495, though NEAR remains below key resistance levels.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
