#nearrisesnearly10% NEAR Protocol: Could Staking in ETFs Cause a Shortage of Tokens?
๐ฅ What if money investors keep buying NEAR and a bigger part of those tokens stays locked up?
That's the thing traders need to keep an eye on.
๐ฆ 1. ETF Interest
A NEAR ETF from Bitwise (NRR) gives people a way to own NEAR. Also get staking rewards. Ongoing money coming into the fund could push up the need for NEAR while staking could take some tokens out of the market for trading.
๐ 2. The Supply Situation
Rewards from staking can help the funds holdings grow depending on how it works.. Staking does not stop new tokens from being created and money coming into the ETF alone might not cause a big shortage.
๐ 3. Important Price Points
๐ข $5.50โ$5.69: barrier to higher prices
๐ $5.97: Big level to watch for a major move
๐ฏ $6.43: Possible target if the price moves higher after confirmation
๐ด $5.05: Important level to watch for support
โ ๏ธ $4.30: Further down if things go bad
๐My view: If money keeps coming in and NEAR moves above $5.97, with strong trading volume the positive trend could get stronger.. If the price fails to move past that level and the bigger market is weak thatโs a real problem.
The real sign isn't the ETF news. It's whether the money is moving and the price is acting in the direction.
๐ฌ Do you think NEAR can go above $6 or will sellers keep stopping it
#Near #crypto #Khan62 #altcoins $NEAR $BNB $LINK
๐ฅ What if money investors keep buying NEAR and a bigger part of those tokens stays locked up?
That's the thing traders need to keep an eye on.
๐ฆ 1. ETF Interest
A NEAR ETF from Bitwise (NRR) gives people a way to own NEAR. Also get staking rewards. Ongoing money coming into the fund could push up the need for NEAR while staking could take some tokens out of the market for trading.
๐ 2. The Supply Situation
Rewards from staking can help the funds holdings grow depending on how it works.. Staking does not stop new tokens from being created and money coming into the ETF alone might not cause a big shortage.
๐ 3. Important Price Points
๐ข $5.50โ$5.69: barrier to higher prices
๐ $5.97: Big level to watch for a major move
๐ฏ $6.43: Possible target if the price moves higher after confirmation
๐ด $5.05: Important level to watch for support
โ ๏ธ $4.30: Further down if things go bad
๐My view: If money keeps coming in and NEAR moves above $5.97, with strong trading volume the positive trend could get stronger.. If the price fails to move past that level and the bigger market is weak thatโs a real problem.
The real sign isn't the ETF news. It's whether the money is moving and the price is acting in the direction.
๐ฌ Do you think NEAR can go above $6 or will sellers keep stopping it
#Near #crypto #Khan62 #altcoins $NEAR $BNB $LINK