NEAR Protocol
Why NEAR Protocol is up 1.1% in the last hour
Analysis
NEAR rose 1.1% over the past hour amid a modest bounce in altcoins after broader market weakness pushed many tokens toward depressed levels. CryptoPotato noted that the altcoin market has seen “extreme underperformance,” with roughly 40% of coins trading near their all-time lows, which can set the stage for short-term relief moves as selling pressure eases.
Contributing Factors (1)
Altcoin Market Reaches Extreme Underperformance, 40% of Coins Trade Near Their ATL
One of the major drivers of this underperformance is the low liquidity despite thousands of coins being created and added to the market daily.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.