NEAR's holders voted almost unanimously to cut issuance — and the market sold it first, then bought it back. That sequence is the $NEAR story right now.
On November 2, the House of Stake approved HSP-029 with 99.9% of participating voting power, cutting maximum annual issuance from 2.5% to 1.6% over 24 months. It is not yet binding: a Security Council review and roughly a 90-day grace period come first.
The tape argued with the vote. $NEAR fell on November 3 despite it, then reclaimed $4 on November 4 and now sits near $4.05 on Binance spot. But derivatives have not confirmed the bounce: derivatives data had open interest barely moving while price rose about 7% — spot-led repair, not fresh leveraged conviction. Underneath it, NEAR Intents has passed $37 billion in volume across 37 million swaps.
Support: $3.91, the reclaimed pivot.
Resistance: $4.25, the strong overhead level.
A daily close below $3.69, the November 3 low, breaks my read.
Is an issuance cut a reason to re-rate a chain, or just slower dilution in nicer packaging? NFA, DYOR.
$NEAR #NEARProtocol #Tokenomics #Governance #CryptoNews
On November 2, the House of Stake approved HSP-029 with 99.9% of participating voting power, cutting maximum annual issuance from 2.5% to 1.6% over 24 months. It is not yet binding: a Security Council review and roughly a 90-day grace period come first.
The tape argued with the vote. $NEAR fell on November 3 despite it, then reclaimed $4 on November 4 and now sits near $4.05 on Binance spot. But derivatives have not confirmed the bounce: derivatives data had open interest barely moving while price rose about 7% — spot-led repair, not fresh leveraged conviction. Underneath it, NEAR Intents has passed $37 billion in volume across 37 million swaps.
Support: $3.91, the reclaimed pivot.
Resistance: $4.25, the strong overhead level.
A daily close below $3.69, the November 3 low, breaks my read.
Is an issuance cut a reason to re-rate a chain, or just slower dilution in nicer packaging? NFA, DYOR.
$NEAR #NEARProtocol #Tokenomics #Governance #CryptoNews
