Trading on NEAR Protocol has recently fallen off, with major exchanges reporting a 36% decrease in 24-hour spot trading volume. While spot volume now sits around $39 million, futures trading remains much stronger at approximately $302 million, according to CoinGlass. This decline comes as NEAR’s price has been relatively stable for several weeks, struggling to gain upward momentum.
Near surges above $3
Trading activity has slowed down for NEAR Protocol after its price surged past $3 earlier this year. It seems many traders are now waiting on the sidelines. Interest and price swings have become more subdued, and the price has been relatively stable for a while now.
Recent trading data confirms this trend. In the past day, trading volume for NEAR has fallen significantly across major exchanges: Binance saw a decrease of over 30%, while OKX and Bybit reported drops exceeding 38%. KuCoin experienced an even larger decline, nearly 57%, indicating that this slowdown isn’t isolated to just one exchange. Interestingly, despite the reduced demand for immediate purchases (spot trading), traders generally maintain positive positions in NEAR futures contracts (derivatives).
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Despite recent market swings, most major exchanges still show more traders betting on price increases (long positions) than decreases (short positions). Top traders on Binance are also primarily holding long positions. Over the past day, data shows that losses from closed trades mostly came from those betting on price increases, suggesting bullish investors weathered the volatility instead of a surge in short selling.
NEAR is currently at an important decision point. It’s trading around $1.89, just slightly above its 200-day moving average – a key price level where buyers and sellers are strongly competing. While the price remains below its 50-day moving average, it’s still holding above longer-term support levels, preventing a definitive downward trend.
Momentum isn’t balanced
Momentum indicators suggest the market is currently neutral, meaning neither buyers nor sellers are clearly in control. The Relative Strength Index of around 48 confirms this balance. Trading volume has also been down across July, reflecting a general slowdown in activity.
NEAR Protocol is currently facing resistance around the $2 mark, which also lines up with its 50-day moving average. Breaking above this level could reignite positive price movement and attract more investors. However, if NEAR falls below its 200-day moving average, it might drop further down to between $1.70 and $1.75.
Currently, the drop in trading doesn’t seem like people are rushing to sell out of fear, but rather a decrease in risky investments. NEAR Protocol will probably continue to trade within its current range unless we see a significant increase in trading volume along with a price move above its main resistance level.
2026-07-23 15:40