As of November 12, 19:55 Beijing time, NEAR is trending on CoinGecko. It’s trading at 3.429 USDT on OKX spot, down about 7.9% from the 24-hour open and near its intraday low. 24-hour trading volume across all platforms is about $480 million, and it’s down about 13% over 7 days.
News is pulling in both directions: NEAR AI disclosed that its internal systems were accessed without authorization. Cloud inference was briefly suspended and has since resumed, and the team says the mainnet was unaffected. Meanwhile, NEAR Intents has used revenue to buy back about $2.7 million worth of NEAR so far in Q4, close to the $3.07 million bought back over all of Q3.
My take: Today’s drop was steeper than BTC’s, mainly due to a weak broader market compounded by sentiment taking a hit from the AI security incident. The buybacks are real money, but they still don’t offset token issuance, so they’re unlikely to reverse the trend on their own in the short term. First, I’m watching to see if 3.4 holds and whether trading volume starts to contract. I’m in no rush to buy the dip before there are signs the decline has stopped.
$NEAR
News is pulling in both directions: NEAR AI disclosed that its internal systems were accessed without authorization. Cloud inference was briefly suspended and has since resumed, and the team says the mainnet was unaffected. Meanwhile, NEAR Intents has used revenue to buy back about $2.7 million worth of NEAR so far in Q4, close to the $3.07 million bought back over all of Q3.
My take: Today’s drop was steeper than BTC’s, mainly due to a weak broader market compounded by sentiment taking a hit from the AI security incident. The buybacks are real money, but they still don’t offset token issuance, so they’re unlikely to reverse the trend on their own in the short term. First, I’m watching to see if 3.4 holds and whether trading volume starts to contract. I’m in no rush to buy the dip before there are signs the decline has stopped.
$NEAR