NEAR at 3.44, up 78%—an AI leader or a bagholder trap?
In 4 days, it surged from 2.79 to 4.97, with 15.26 million trades and $164 million in open interest. Grayscale had just touted it as “AI infrastructure” last week, but retail traders who piled in discovered that NEAR Intents was hacked for $3.8 million on October 1.
Longs should wait for it to hold above 4.5 before chasing; shorts should wait for it to break below 3.2 before stepping in. At this level, jumping in now could get you squeezed from both sides.
Retail traders see the words “AI leader” and pile in. Smart money sees the $3.8 million theft and laughs.
Do you think it’s the Ethereum of the AI era, or a bagholder trap hyped up by Grayscale?
$NEAR
In 4 days, it surged from 2.79 to 4.97, with 15.26 million trades and $164 million in open interest. Grayscale had just touted it as “AI infrastructure” last week, but retail traders who piled in discovered that NEAR Intents was hacked for $3.8 million on October 1.
Longs should wait for it to hold above 4.5 before chasing; shorts should wait for it to break below 3.2 before stepping in. At this level, jumping in now could get you squeezed from both sides.
Retail traders see the words “AI leader” and pile in. Smart money sees the $3.8 million theft and laughs.
Do you think it’s the Ethereum of the AI era, or a bagholder trap hyped up by Grayscale?
$NEAR
