NEAR Protocol
Why NEAR Protocol is up 1.1% in the last hour
Analysis
NEAR Protocol (NEAR) edged up 1.1% over the past hour as altcoins showed signs of stabilization/bounce despite broader weakness. CryptoPotato noted that the altcoin market has reached “extreme underperformance,” with around 40% of coins trading near their all-time lows, a backdrop that can coincide with short-term relief moves in stronger or more actively traded names like NEAR.
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.