NEAR Protocol’s open interest fell 9.5% over the past 24 hours, alongside a 7.9% decline in the token’s price, according to Coinalyze data. NEAR is currently trading near $4.50, with a market capitalization of approximately $5.86 billion and daily trading volume of around $618 million. The simultaneous decline in price and open interest generally indicates deleveraging, with traders reducing derivatives exposure voluntarily or through liquidations. The token has lost approximately 13.2% over the past seven days but remains substantially above its summer lows. The $4.50-$4.55 support area will be crucial, while a move back above $4.90-$5.00 would indicate that buyers are regaining control.
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