Conclusion first: NEAR rose nearly 12% in a day, and the positions that got liquidated were still mostly the short sellers chasing the decline. Open interest rose even faster than the price.
The current price is 2.44, with a 24-hour high of 2.49 and low of 2.16. Binance and OKX gains were both stuck between 11.5% and 11.7%.
Over the past 24 hours, the whole market cleared $16.9 million, 63% of it short positions. In the last 4 hours, that ratio was still 55%, and the group that kept chasing the drop never managed to hold on.
Open interest rose 16% to 592 million, with one account on the Hyperliquid chain holding 26% of it—more than the standalone share of either Binance or Bybit.
The funding rates were fairly restrained, with mainstream exchanges mostly around 11% annualized and no squeeze-like extremes. This rally looks more like gradual accumulation than leverage-fueled piling on.
$NEAR $BTC
Slow rise and gradual accumulation—do you think this kind of uptrend is more solid?
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