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The crypto markets witnessed a steep pullback in the past few days, which dragged the Bitcoin price below $54,000. Fortunately, the price triggered a V-shaped recovery in the next few days, which stabilised the entire market. In the meantime, the memecoins, the Solana ecosystem tokens and the AI tokens have been gaining significant strength.
A widely followed crypto analyst is predicting one Ethereum (ETH) competitor is gearing up for a massive breakout. Crypto trader Michaël van de Poppe tells his 725,300 followers on the social media platform X that NEAR Protocol (NEAR) could soar 275% from its current value within six months.
NEAR Protocol has recently experienced a resurgence, with its price increasing by over 2% last week and an additional 3% rise in the past 24 hours. As of the latest data, NEAR is trading at approximately $4.02, and the token's market capitalization stands at over $4.5 billion.
NEAR is potentially overcoming its monthly decline of 2.20% as activities intensify.
Near protocol might reclaim $15 if a few conditions are met over the coming months.
The growth of Artificial Intelligence (AI) chip maker Nvidia (NVDA) has sparked a positive upswing in AI coins. The company stock price soared in the last 24 hours moving past speculations of a Department of Justice (DOJ) probe.
NEAR hovered near the critical $3.5 support, with bulls needing a breakout above key EMAs to avoid further downside toward $2.6.
NEAR Protocol has had a turbulent time recently. Over the last four weeks, NEAR has seen its value decrease by approximately 10.61%, with a more pronounced 16.48% drop in the past week.
Story Highlights The live price of the Near Protocol token is . Near Protocol is predicted to reach a maximum of $7.28 this year. NEAR price with a potential surge could reach a high of $26.43 by 2030. The global crypto market has been generous enough to emerging protocols and its native assets.
AI coins are on investors radar for a potential surge, as Nvidia stock holds firm with a $165 price target despite recent market turbulence. Analysts remain confident in Nvidias growth prospects, sparking renewed interest in the AI sector.
The AI coins have went through a topsy-turvy phase lately, amid a volatile scenario in the broader crypto market. In addition, the recent crash in the Nvidia stock has further dampened the market sentiment, causing a massive selloff in both the stock and crypto markets.
Yesterday around 08:00 pm (UTC+2), the profile X of the cryptographic project Near Protocol was compromised.
AI tokens' recovery highlights market sensitivity to regulatory news, underscoring the volatility and investor sentiment in the tech sector. The post AI tokens rally as Nvidia refutes DOJ subpoena reports appeared first on Crypto Briefing.
Near Protocol's X page was apparently breached by hackers who seemed uninterested in promoting sham airdrops or rug pulls. On Sept. 4, bizarre posts were seen published from the X account of layer-1 proof-of-stake blockchain, Near protocol (NEAR).
TL;DR Nvidia Subpoenaed: The U.S. Department of Justice issued a subpoena to Nvidia on September 3, sparking market turmoil and significant losses in AI-related tokens. Market Impact: Nvidia's shares dropped by 8.3% this week, while AI tokens fell by an average of 7.1%, outpacing declines in major cryptocurrencies like Bitcoin and Ethereum.
Market consensus suggests that NEAR is on the cusp of a rally, supported by several key factors.
The value of NEAR, a leading AI-related cryptocurrency, has dropped by 16% over the past seven days. As of now, NEAR is trading at $3.94.
While the market has rebounded following a poor start to the month in September, some altcoins are still struggling with the leftover bearishness. NEAR continues with the list of altcoins that keep up their losses even as the majors, including Bitcoin and Ethereum, recover from their respective slumps.
NEAR Protocol's cross-chain signing feature will allow users on multiple blockchains to transact with Libre's selection of tokenized credit and hedge funds.
August was a challenging month for cryptocurrency investors who experienced portfolio losses in an unfavorable overall market performance. With September arriving, Finbold looked into solid cryptocurrencies that could bounce up and reach a $5 billion market cap.
Crypto analysts and various metrics hint that an altcoin season might be just around the corner. Recently, Bitcoin's price has been between $59,190 and $61,947, struggling to break through the $65,000 resistance level. While Bitcoin's dominance has been increasing for over 600 days, altcoins have been on a downtrend for more than 150 days.
Open Interest behind the NEAR Protocol has been falling alongside the price.
Render, NEAR, FET approaching oversold territory, indicating potential recovery or further drops. Bearish sentiment triggers market decline; AI tokens struggle with low liquidity.
NEAR Protocol (NEAR) is trading at a crucial support level, following a significant 15% retracement from its recent local highs. This retracement has brought the asset to a key price area, garnering the attention of traders and analysts closely monitoring the market for signs of a potential uptrend continuation.
