NEAR Protocol
Why NEAR Protocol is up 2.3% in the last hour
Analysis
NEAR Protocol (NEAR) rose about 2.3% over the last hour as a broader altcoin short squeeze accelerated, forcing bearish traders to buy back positions and pushing prices higher. U.Today reported that NEAR was among the leading tokens in the squeeze, alongside XRP, as crypto short sellers suffered roughly $666 million in liquidations over 24 hours, which likely contributed to the near-term upside pressure.
Contributing Factors (1)
XRP and NEAR Lead Altcoin Squeeze as Crypto Short Sellers Lose $666 Million in 24 Hours
An altcoin breakout led by XRP and NEAR triggered $666 million in crypto short position liquidations over the last 24 hours.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.