The Near Protocol gained more than 11% in 24 hours, as the overall crypto market capitalization rose by 2.69%. Bitwise’s report on NEAR Intents trading volumes recorded $10.41 billion in the third quarter, up more than 66% quarter over quarter and 891% year over year. A proposal currently being voted on by the House of Stake aims to reduce token issuance from 2.5% to 1.6% over the next 24 months. NEAR nevertheless remains constrained by resistance around $5.50, which has been tested more than five times in a month, while Bitwise’s spot NEAR ETF, NRR, recorded net outflows of $2.54 million. The market structure would remain bullish as long as the token does not break and hold below $4.50.
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