NEAR Protocol (NEAR) could rally toward higher price targets if Bitcoin avoids new lows, while any market dip may offer accumulation opportunities for the NEAR price. Meanwhile, NEAR has launched the [email protected] rewards program to boost adoption of its privacy-focused Confidential Intents feature and strengthen ecosystem engagement.
At the time of writing, NEAR is trading at $2.01 with a 24-hour trading volume of $493.3 million and a market capitalization of $2.61 billion. Despite the 4.04% decline over the last 24 hours, the NEAR price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: NEAR Price Analysis: Bullish Breakout Signals a Move Toward $2.30
NEAR Price Could Surge if Bitcoin Avoids New Lows
According to the crypto analyst Michaël van de Poppe, the NEAR price continues to be tracked by traders amid increased volatility in the crypto space.
The traders have trimmed their holdings of NEAR Protocol, with their concern being that Bitcoin may revisit its lows. In case this happens, there will be an intensified sell-off in other cryptos, making them even more lucrative to buy into.
Source: Michaël van de Poppe’s X Post
Even with the conservative view, the NEAR price potential is still intact. According to the trader, there is an interest to buy on dips should the broader market decline.
Otherwise, if Bitcoin is able to hold above support levels and sentiment is bullish, the NEAR price has room to move up to $2.00 and even potentially $2.55.
NEAR Launches [email protected] Rewards Program
The data from NEAR Protocol further highlighted that the NEAR ecosystem has now launched its latest milestone for rewarding active users participating in Confidential Intents on the platform, called [email protected].
The objective of this is to encourage the adoption of confidential decentralized trading by providing rewards to individuals who have participated in confidential swaps. Participants eligible for Drop 1 will be automatically selected.
Source: NEAR Protocol’s X Post
This development clearly indicates NEAR’s efforts toward promoting blockchain technology that enhances privacy and DeFi adoption.
With Confidential Intents, users will be able to conduct transactions privately but still keep everything secure and efficient on-chain. NEAR aims at fostering community interaction and encouraging users to retain themselves in the network through [email protected].
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: NEAR Price Signals Reversal Toward $20 as Buyers Defend Critical Demand Area
