$NEAR #bitwisefilesfinalnearspotetfprospectus
Just looked at this chart and it's hard to believe. NEAR is sitting at $5.22 right now, touched a high of $5.499 today, and the range for the day alone was almost 10%. If you weren't watching, you missed it moving from around $1.50-2 just a few weeks ago to nearly triple that now.
The reason is pretty clear. Bitwise filed the final prospectus for its spot NEAR ETF, and NYSE Arca approved it to list under the ticker "NRR." This fund will also stake the NEAR it holds, and pass most of those staking rewards (around 67%) back to investors.
Looking at the moving averages on the chart, the gap between them tells the story. The 7-day average is at $4.69, the 25-day is at $3.21, and the 99-day is way back at $2.18. That kind of spread usually means a coin isn't just having a random good day, it's breaking into a new range entirely.
One thing worth knowing: Bitwise's own research puts out a wide range of outcomes for NEAR by 2030, anywhere from $1.63 in a bad case to $562 in an extreme bull case, with $155 as their base estimate. That's a huge spread, which just shows how early and unproven this whole category still is for institutions.
For now, $5 holding as support is the level to watch. If it holds, there's room to keep going. If it doesn't, a pullback after this kind of move would be completely normal.
$NEAR #NEARProtocol #ETF #bitwisefilesfinalnearspotetfprospectus
Just looked at this chart and it's hard to believe. NEAR is sitting at $5.22 right now, touched a high of $5.499 today, and the range for the day alone was almost 10%. If you weren't watching, you missed it moving from around $1.50-2 just a few weeks ago to nearly triple that now.
The reason is pretty clear. Bitwise filed the final prospectus for its spot NEAR ETF, and NYSE Arca approved it to list under the ticker "NRR." This fund will also stake the NEAR it holds, and pass most of those staking rewards (around 67%) back to investors.
Looking at the moving averages on the chart, the gap between them tells the story. The 7-day average is at $4.69, the 25-day is at $3.21, and the 99-day is way back at $2.18. That kind of spread usually means a coin isn't just having a random good day, it's breaking into a new range entirely.
One thing worth knowing: Bitwise's own research puts out a wide range of outcomes for NEAR by 2030, anywhere from $1.63 in a bad case to $562 in an extreme bull case, with $155 as their base estimate. That's a huge spread, which just shows how early and unproven this whole category still is for institutions.
For now, $5 holding as support is the level to watch. If it holds, there's room to keep going. If it doesn't, a pullback after this kind of move would be completely normal.
$NEAR #NEARProtocol #ETF #bitwisefilesfinalnearspotetfprospectus
