Key Takeaways
What arcane forces propel the mercurial NEAR Protocol’s price waltz?
Ah, NEAR! That sprightly darling of crypto, currently buoyed by an ostentatious $19.52 million pirouette in Total Value Locked (TVL) and a rhapsody of rising decentralized exchange (DEX) trading volumes. Truly, one cannot help but marvel at such numerical theatrics.
Spot antics and on-chain theatrics: friends, foes, or frenemies?
While the on-chain revelry sings a bullish serenade, our dear spot markets have taken to a gloomy sonnet of sell-offs, casting a sardonic shadow on NEAR’s bright prospects. Oh, the tragicomedy of finance!
NEAR Protocol [NEAR], with the panache of a prima donna, outshone its peers by welcoming a flood of liquidity so grand it must have left even the gods of blockchain breathless. Yet, as sentiment hints at encore performances, the spot market remains the party pooper, insisting on a price decline with the subtlety of a sledgehammer.
On-chain Volume Ascends Like a Peacock in Full Display
The trading activity on-chain has reached levels so dizzying they might induce vertigo in the faint-hearted.
According to the oracle DeFiLlama, TVL has galloped from a modest $91.71 million to a sumptuous $111.23 million faster than you can say “blockchain bonanza.”
This $19.52 million climb is the financial equivalent of staking one’s claim with pomp and circumstance in NEAR tokens.
Meanwhile, the DEX volume, that wild beast of trading frenzy, has roared to a peak of $62.35 million-its finest hour since late August. Such activity confirms that the market’s minstrels have been busier than a London street corner in spring.
Over the past fortnight, NEAR boasts an enviable 17% gain, as coins are lovingly gathered into wallets with all the zeal of a Victorian collector hunting rare butterflies.
Technical Indicators offer Their Blessing… or So They Say
For those who worship at the altar of charts, allow me to present our stars: the Average Directional Index (ADX) and the Chaikin Money Flow (CMF). These arcane instruments whisper sweet nothings that hint at a bullish serenade.
The CMF, that fickle and mercurial creature, has soared to 0.26 within a day-a positive number indeed, signalling a market dominated by eager buyers and a volume that refuses to sulk.
And then there’s the ADX, measuring trend strength like the all-seeing eye of Sauron, confirming with an upward nod that our NEAR is striding strongly in the bullish parade.
So, dear reader, the mood is buoyant. The market’s crystal ball gleams with possibilities, and the price outlook basked in a hopeful glow-though never forget, the dance of fortune is as fickle as a debutante’s favour at a ball.
Spot Market: The Party Crasher with a Keen Eye for Profit
Yet, amidst this merriment, lurks the ever-grim spectre of spot sell-offs-like unwelcome guests at a garden party who insist on discussing politics.
The past 48 hours have seen a dramatic increase in NEAR tokens strolling out of exchanges, perhaps off to greener pastures or simply to fund one too many cups of overpriced coffee.
On the 18th of September, a princely sum of $6.94 million was sold-but fear not! The drama continued today with another $2.90 million exiting stage left.
This grand total of $9.64 million in two days is less a mere profit-taking soirée and more a hint that our bullish cocktail might suddenly taste of bitters.
If this melancholic spot sell-off persists, NEAR’s price dreams may be rudely awakened by a bearish alarm clock. Yet, ever hopeful, on-chain investors might just counter this gloom, proving that in the theatre of crypto, one must never count out the hero’s encore. 🎭💸
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2025-09-20 06:21