At 5.2, seeing $NEAR feels oddly unfamiliar.
This coin went from 4.63 to 5.28 in a day, up 10% in 24 hours. The broader market is moving sideways, and it's the only one on the move.
The trigger was the supply-reduction proposal HSP-029, which opened for voting yesterday: over 24 months, it would cut annual inflation from 2.5% to 1.6%, issuing over 11 million fewer coins over two years. The votes aren't even fully counted yet, but the market has already bought into the idea that “there will be fewer coins.”
#NEAR #MarketAnalysis
This coin went from 4.63 to 5.28 in a day, up 10% in 24 hours. The broader market is moving sideways, and it's the only one on the move.
The trigger was the supply-reduction proposal HSP-029, which opened for voting yesterday: over 24 months, it would cut annual inflation from 2.5% to 1.6%, issuing over 11 million fewer coins over two years. The votes aren't even fully counted yet, but the market has already bought into the idea that “there will be fewer coins.”
#NEAR #MarketAnalysis