NEAR Protocol’s token (NEAR) rebounded 9% intraday on July 24, showing strong signs of institutional accumulation amid high volatility and fresh market catalysts. A strategic partnership with Everclear, focused on cross-chain stablecoin infrastructure, helped boost investor confidence and set the stage for long-term growth.
Institutional Buying Fuels Rebound After Sharp Morning Selloff
NEAR saw a sharp decline from $2.82 to $2.59 in early morning trading, triggering a wave of high-volume trades — nearly 7.91 million tokens exchanged — establishing a new technical support level. But what followed was a textbook rebound, as the price surged to $2.81 by the session close, signaling aggressive institutional buying at discounted levels.
A $0.24 intraday swing — representing a 9% volatility range — confirmed heightened trader interest and strong recovery momentum.
New Trading Range Signals Stability Amid Market Dislocation
The token formed a tight trading channel between $2.79 (support) and $2.82 (resistance), showing signs of healthy consolidation. Analysts view this setup as a signal of controlled price discovery rather than erratic volatility.
The final hour saw a 2% rise from $2.72 to $2.79, reflecting sustained demand despite minor profit-taking.
NEAR and Everclear Eye $1 Trillion Cross-Chain Settlement Market
A major catalyst behind NEAR’s rebound was the announcement of its strategic alliance with Everclear, aiming to build infrastructure for cross-chain stablecoin settlement — a market estimated to be worth $1 trillion.
Everclear’s footprint now includes 23 supported blockchains and 111% quarterly growth, while NEAR brings Chain Abstraction technology to the table, enabling low-cost, efficient, and regulatory-friendly cross-chain transactions.
This partnership addresses key industry pain points like liquidity fragmentation and regulatory friction, positioning NEAR for long-term relevance in the digital asset space.
What’s Next for NEAR Protocol?
Despite recent volatility, NEAR Protocol appears to be entering a new accumulation phase, buoyed by institutional confidence and a clear roadmap focused on cross-chain utility.
NEAR’s ability to rebound quickly and partner strategically reflects a resilient market position amid broader crypto uncertainty.
As the regulatory environment around stablecoins clarifies, NEAR’s infrastructure bet on settlement markets could prove to be a game-changer.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.