Boom! NEAR Explodes 110% In One Month, What's The Reason?


 "Not normal, the price of NEAR has continued to rise since the beginning of October 2023."

The NEAR cryptocurrency founded by Near Protocol has finally managed to witness a massive rally to reach $2.18 as there is an overall bullish sentiment in the digital asset market.

The positive sentiment is a follow-up to the surge in the price of digital assets such as Bitcoin (BTC) and Ethereum (ETH) followed by expectations for the approval of spot BTC ETFs in the United States (US) including the BTC halving event that will take place in April 2024.

However, it should be noted that the price increase of NEAR is also driven by the support provided by Binance Japan which intends to add 13 new tokens including NEAR to its platform on November 27, 2023.

Immediately after the action was implemented, Binance Japan was able to increase their total crypto offering at 47 with a future goal of supporting 100 tokens.

NEAR which has been one of the best performing tokens in the crypto market for the past few days has surged 110% in a month as BTC and ETH rose to reach $38,000 and $2,100 respectively.

Through observation on the price chart, NEAR must break through its resistance zone at $2.15 first to continue rising higher but if it fails then the digital asset can plunge or make a pullback again at $1.84 followed by $1.68.

As of this writing, the price of NEAR which is currently trading at $1.99 has recorded a slight decrease of about 1.81% in the last 24 hours with a market cap of $1 billion but remains up 25.72% over the last week.