NEAR just ripped 7% to $5.23, and honestly the tape looks healthier than it did a week ago.
Yesterday's washout down to $4.30 flushed about 16% of the move in one go. That's the kind of candle that scares off leverage and brings back the spot bid. This morning NEAR was leading exchange inflows at $7.4M, ahead of everything else including BTC. Follow the money.
The Bitwise NRR spot ETF keeps giving the token a bid that didn't exist two months ago. Intents volume crossed $31B, which actually pays the network's bills. The flush low at $4.30 is the line. Below it, this recovery was a dead-cat bounce. Holding above, $5.60 comes back into view.
I'm watching whether the inflows stick around.
$NEAR $BTC
Yesterday's washout down to $4.30 flushed about 16% of the move in one go. That's the kind of candle that scares off leverage and brings back the spot bid. This morning NEAR was leading exchange inflows at $7.4M, ahead of everything else including BTC. Follow the money.
The Bitwise NRR spot ETF keeps giving the token a bid that didn't exist two months ago. Intents volume crossed $31B, which actually pays the network's bills. The flush low at $4.30 is the line. Below it, this recovery was a dead-cat bounce. Holding above, $5.60 comes back into view.
I'm watching whether the inflows stick around.
$NEAR $BTC