NEAR Protocol’s NEAR token has seen a 7% decline over the past week, despite the overall market trend of price appreciation for leading cryptocurrencies. NEAR Protocol is a Proof of Stake blockchain that focuses on scalability through its sharding solution called ‘Nightshade’. Other tokens associated with “Ethereum killer” blockchains, such as Solana (SOL), Avalanche (AVAX), and Internet Computer (ICP), have also experienced losses in the past week. The price of NEAR has shown significant volatility over the last three months, with the token reaching a peak of $9 in mid-March before dropping to around $6, a key psychological support level.
As the market anticipates the upcoming Bitcoin halving event on April 20, there is excitement among crypto enthusiasts as historical data suggests that halvings have led to market-wide bull runs. The halving event reduces Bitcoin mining rewards by half, limiting the issuance of new Bitcoins. With Bitcoin currently trading at over $70k, surpassing its 2021 bull run performance, many are hopeful that the halving will trigger a surge in industry interest and investor optimism. The anticipation of a new high watermark for Bitcoin this year is high, with expectations of attracting more investors in the coming months.
An incentivized crypto learning platform, 99Bitcoins, has recently launched with a unique learn-to-earn model that rewards participants with $99BTC tokens for completing courses or engaging in the community. Established in 2013 as BitcoinWithPayPal, 99Bitcoins has a large community of 700,000 YouTube subscribers and 2 million registered users for its crypto courses. Holders of the $99BTC tokens can redeem them for exclusive content access, discounts, and token holder events. The platform aims to bridge the knowledge gap in the crypto space and provide educational resources for those interested in blockchain technology.
NEAR Protocol’s trading chart reflects the fluctuating journey of NEAR token holders over the past three months, with price movements suggesting a potential support level at the current price. The Relative Strength Index (RSI) of 50 indicates that price fluctuations are balanced currently. With the Bitcoin halving approaching and market sentiment optimistic, NEAR Protocol may see further price increases in the near future. The upcoming halving event has historically preceded bull runs in the market, and the current price of Bitcoin exceeding $70k has heightened expectations for a strong performance post-halving.
Despite NEAR Protocol and other tokens experiencing intraweek losses, the overall market sentiment is positive as investors eagerly await the Bitcoin halving on April 20. Halvings have historically led to market-wide bull runs, and with Bitcoin trading at record highs, there is anticipation for further price increases in the crypto market. The launch of a new incentivized crypto learning platform, 99Bitcoins, aims to educate users about blockchain technology while rewarding them with $99BTC tokens for participation. As the market continues to evolve and adapt to new developments, the excitement around the Bitcoin halving and potential market movements remains a focal point for investors and enthusiasts alike.
