NEAR Protocol: These metrics can play a role in pushing NEAR down
NEAR recently outperformed several other cryptos with a larger market capitalization as it registered double-digit gains in the last seven days.
The unprecedented surge sparked excitement in the community and gave investors hope for brighter days ahead for the token. At the time of writing, NEAR was trading at $5.16, 20% above when compared to the last week, with a market capitalization of $4,040,101,960, which also registered nearly 10% growth.
Several developments happened in the NEAR ecosystem that might have contributed to this price surge. However, things are not how they appear, especially in NEAR’s case. Several on-chain metrics and market indicators suggest a possible trend reversal in the coming days.
Recently, Bybit announced on Twitter that it will add support for SweatEconomy and SWEAT on NEAR Protocol and Ethereum, which is good news as it increases the network’s value.
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