by aria-ratings.com
July 4, 2025 at 17:23
NEAR Protocol Faces 5% Decline Amid Bitwise ETP Launch
The NEAR Protocol token saw a 5% decrease in value on Friday, even with the recent introduction of Bitwise's NEAR exchange-traded product (ETP).
This downturn comes during a relatively quiet day for the broader cryptocurrency market, with Bitcoin also retracting from its recent highs.
The launch of Bitwise's NEAR Staking ETP is significant as it provides institutional investors a regulated avenue to access NEAR's staking rewards.
This development highlights the growing acceptance of NEAR within traditional financial frameworks, despite current market volatility.
Technical analysis indicates a bearish sentiment, further evidenced by the performance of other indices such as the CD20, which has also slipped.
The CD20 index experienced a drop from $1,788.41 to $1,756.06, underscoring the overall pressures faced in the cryptocurrency sector.
Although the launch of the ETP aims to promote institutional investment, the market's response suggests cautious sentiment among traders.
Investors will be keen to monitor how NEAR adapts to these market dynamics while seeking long-term growth prospects.
As cryptocurrencies continue to face challenges, innovations like ETPs may play a pivotal role in shaping market attitudes and investment strategies.
The future of NEAR will largely depend on its ability to maintain momentum and attract new investments amidst prevailing market conditions.
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