Bitcoin recovery fizzles, but SOL, DOT, NEAR and KAS could rally

Buyers will need to keep Bitcoin above $53,500 to start a recovery in SOL, DOT, NEAR and KAS.

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Expert Names 3 Altcoins with Huge Potentials for Big Rally

Cody Buffinton, the host of the popular crypto YouTube channel Altcoin Buzz, highlights the top three altcoins primed for huge…

The post Expert Names 3 Altcoins with Huge Potentials for Big Rally first appeared on The Crypto Basic.

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NEAR Surges 70%Bullish Pattern Hints $10 Target

NEAR Protocol (NEAR) hs bn rcnt bright spot in th cryptocurrncy mrkt, xprincing surg of pproximtly 70% from its low of $4. This imprssiv run hs cught th y of prominnt nlysts, with som suggsting th formtion of bullish tchnicl pttrn. AMCrypto, wll-known psudonymous nlyst, blivs NEAR might b forming […]

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NEAR Surges 20%: Pantera Capital MP Reveals 5 Reasons For Bullish Outlook

NEAR, the native token of the Layer 1 (L1) blockchain Near Protocol, has surged to a one-month high after breaking out of a previous downtrend that saw the token hit a low of $4 on July 5. Currently trading at $5.93, NEAR has recorded a substantial 20% gain over the past week, propelling it to the 19th position among the top 100 cryptocurrencies.  This positive momentum has drawn the attention of venture capital firm Pantera Capital, whose Managing Partner, Paul Veradittakit, has shared several reasons for the firm’s bullish stance on NEAR’s protocol and its growth potential. Scalability Solution Amidst Bitcoin And Ethereum Challenges Veradittakit took to social media on Thursday to highlight NEAR’s value proposition within the blockchain ecosystem.  Veradittakit noted that while Bitcoin (BTC) and Ethereum (ETH) have been at the forefront of the crypto technology revolution, with Bitcoin establishing itself as a store of value and Ethereum supporting smart contracts and decentralized applications (dApps), both face challenges related to transaction scalability.  According to Panteras MP, this is where NEAR Protocol plays a key role in addressing these scalability issues while prioritizing developer engagement and user experience by offering a scalable and user-centric blockchain solution. Related Reading: Crypto Analyst Predicts XRP Price To Hit $1.03 Soon, Warns Of Initial Dip NEAR distinguishes itself with its Thresholded Proof of Stake (TPoS) system and Nightshade sharding, which increases scalability and decentralization. These advancements have paved the way for NEAR to achieve significant milestones, such as reaching $335 million in Total Value Locked (TVL), an increase of 547% in just six months.  According to Veradittakit, such growth demonstrates NEAR’s traction and strategic effectiveness in the market. Furthermore, NEAR’s market presence is fortified by key metrics, including a 42% quarter-on-quarter increase in daily active addresses, a surge in transactions from 35 million to over 220 million, and a substantial rise in monthly active users from 2.9 million to 15 million. NEAR And Crypto AI Integration Notably, NEAR is also positioning itself as a leader in the emerging crypto artificial intelligence (AI) ecosystem, which has gained significant traction especially over the past year with surges of firms like Nvidia.  The NEAR team has emphasized the integration of AI through an open and decentralized framework, which places user control over data and assets at the forefront.  This has garnered recognition, as NEAR has been announced as part of Grayscale’s AI Fund. The fund’s component assets and weightings include Bittensor at 2.92%, Filecoin at 30.59%, Livepeer at 8.64%, NEAR at 32.99%, and Render at 24.86%. Related Reading: THORChain (RUNE) Primed For Big Gains, Analyst Eyes $20 Milestone Lastly, Veradittakit emphasized that NEAR’s success can be attributed to the leadership of its co-founders, Illia Polosukhin and Alexander Skidanov, as Polosukhin’s expertise in AI and Skidanov’s engineering understanding has been instrumental in developing NEAR’s infrastructure.  Despite reaching its monthly high of $5.93 and a substantial 300% gain year-to-date, the token will need to break above the $8.28 level in the short term to break out of its downtrend structure.   However, with these advancements and the adoption of AI-related tokens, NEAR may be poised for further gains throughout the year, helped along by the broader market’s recovery.  Featured image from DALL-E, chart from TradingView.com

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NEAR Protocol (NEAR) Breaks Resistance, Eyes $7.685 Amid Bullish Trend

Recently, a well-known crypto analyst, World Of Charts, highlighted a significant development with NEAR Protocol (NEAR). According to their analysis, NEAR has successfully broken out of a falling wedge pattern and has been enjoying an almost 8% profit since the breakout. Despite this promising start, there is still a long way to go before NEAR […]

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Valour launches first ETP for Near Protocols native token

The exchange-traded product will be available on Swedens Spotlight Stock Market.

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Altcoin Market Surges to $672 Billion, Analysts Predict $3 Trillion Rally Ahead

The altcoin marke­t is currently seeing a re­markable rise, which has revived optimism and excite­ment among traders and inve­stors. As of June 3, 2024, the­ total market capitalization of altcoins is nearly $671.8 billion, after dropping in re­cent years. Top crypto analysts underscore this growth, predicting a bright future for alternative­ cryptocurrencies. Renowne­d crypto analyst […]

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Near Protocol (NEAR) is on The Verge of Breakout: Analyst Eyes $11 Target

Near Protocol (NEAR) is facing immense selling pressure, thus passing through a hard time. Altcoins see gains dwindle as the broader crypto market is held in the iron grips of bearish sentiment, with NEAR no exception. The most recent massive sell-off wave in Bitcoin attacked crucial levels for BTC, as the value swayed toward the […]

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NEAR Protocol: From Recent Dip To Google Search Darling Is $16 Next?

NEAR Protocol (NEAR) is making waves in the cryptosphere, surging to the top of Google searches and capturing investor attention. This newfound interest, coupled with strong activity data from blockchain analytics platform DappRadar, fuels speculation of a potential price explosion. Some analysts are predicting a meteoric rise to $16, despite recent dips. However, beneath the bullish bravado lies a layer of technical analysis and short-term volatility that warrants a closer look. Related Reading: Ethereum Longs Crushed! Who Got Burned In The $62 Million Fire Sale? Decoding NEAR’s Google Surge The recent surge in Google searches for NEAR is undeniable. This newfound interest can be interpreted in two ways. Optimists see it as a sign of growing recognition and potential mainstream adoption. They point to NEAR’s strong fundamentals its developer-friendly architecture, focus on decentralized finance (DeFi), and active ecosystem with popular DApps like Kai-Ching and Hot Wallet. heh, sorry kiddos. looks like NEAR is number one in Google Search trends. another huge W. try it for yourself. literally too ez pic.twitter.com/eYKWZM0iWK NEAR Protocol (@NEARProtocol) June 5, 2024 According to DappRadar, NEAR’s protocol boasts high transaction volume, reflecting strong network activity. Additionally, DappRadar highlights NEAR’s promising DeFi presence with a healthy total value locked (TVL) within its DeFi applications. This combination positions NEAR as a contender in the evolving blockchain landscape, attracting both retail and institutional investors. However, skeptics caution against overhyping Google Trends. They argue that search volume doesn’t always translate to long-term price appreciation. It’s possible that the surge is a fleeting fad, fueled by short-term marketing campaigns or even social media influencers. They point to the current price dip as evidence of this disconnect between online buzz and actual market movement. Can Technical Analysis Steer NEAR To $16? Crypto analyst More Crypto Online has thrown down the gauntlet, presenting a bullish case for NEAR based on the Elliott Wave Theory and Fibonacci retracement levels. The theory suggests that market prices follow predictable wave patterns, and the current price action places NEAR in the potential “second wave” of a five-wave sequence. This, according to More Crypto Online, paves the way for a significant “third wave” with a target price of $16. $NEAR: The price is still holding above the relevant support level at $4.97. As long as this support level holds, it is plausible to watch for a third wave from here, which should send the price to $16+. However, we need more upside momentum.#NearProtocol #NEAR pic.twitter.com/azsWbQTMKG More Crypto Online (@Morecryptoonl) June 12, 2024 While this analysis offers an interesting roadmap, it’s crucial to acknowledge the limitations of technical analysis. These models are based on historical price movements, and the future market can be notoriously unpredictable. Related Reading: Bitcoin Ownership Trends: Short-Term Spike As ETFs Gain Popularity Report Can The Coin Maintain Its Bullish Balance? The key to NEAR’s potential surge lies in the crucial support level of $4.97. If the price stays above this point, it bolsters the bullish outlook and potentially triggers the anticipated third wave. A successful third wave could propel NEAR to significant price targets, initially around $10.5 and potentially reaching even higher. Featured image from Shutterstock, chart from TradingView

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NEAR Protocol Skyrockets in Google Trends, Eyes Potential Surge to $16, Despite Recent Dip

NEAR Protocol (NEAR) is rapidly gaining recognition within the­ Ethereum coin space. Re­cent developme­nts highlight that “NEAR” has surged to the top of Google se­arch trends, indicating heightene­d trader interest. This tre­nd underscores the incre­asing attention of investors who see­ NEAR Protocol as a promising cryptocurrency with significant potential. Investors vie­w $NEAR as an undervalued […]

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NEAR Price Rally: 9% Surge Recaptures Key Level, Records 160% TVL Growth In Q1

Decentralized application (dApp) platform Near Protocol exhibited notable growth in key metrics during the first quarter (Q1) of 2024, driving its native token NEAR to reclaim a crucial key level and paving the way for a potential retest of its all-time high (ATH) from January 2022.  According to a recent report by Messari, NEAR experienced significant increases in market capitalization, revenue, active addresses, and Total Value Locked (TVL), solidifying its position among the top players in the cryptocurrency market. NEAR Outperforms Bitcoin And Ethereum In Q1 2024, NEAR’s circulating market cap surged to $7.2 billion, marking a 94% quarter-on-quarter (QoQ) increase. The fully diluted market cap also witnessed substantial growth, reaching $8.2 billion, representing a 91% QoQ increase. These numbers propelled NEAR to secure a spot among the top 20 cryptocurrencies by market capitalization.  Related Reading: Study Uncovers Surprising Data: 90% Of Stablecoin Transactions Not Driven By Human Users Notably, NEAR outperformed Bitcoin (BTC) and Ethereum (ETH), which recorded QoQ growth rates of 69% and 53%, respectively. Additionally, NEAR’s revenue, derived from network transaction fees, witnessed an 82% QoQ increase, reaching $1.9 million.  NEAR continued its address growth trend in Q1 2024, with average daily active addresses reaching 1.2 million, representing a robust 42% QoQ increase.  The network also witnessed a surge in daily new addresses, totaling 236,000 (a 37% QoQ increase), and surpassed the milestone of 100 million total accounts.  According to Messari, contributions from established protocols like KAIKAINOW, Sweat, and Playember and the adoption of HOT Wallet, averaging over 350,000 daily active addresses in March and nearly 3 million total wallets, drove this expansion. Stablecoin Market Cap Soars In Q1 Per the report, the protocol experienced a sustained increase in transaction activity throughout Q1 2024, with daily transactions reaching 4.3 million, representing a 78% QoQ increase and a 538% increase over the last six months.  Similarly, NEAR’s TVL witnessed substantial growth, ending the quarter at $335 million, a 163% increase from the previous quarter and a 547% increase over the last six months.  Furthermore, NEAR’s decentralized exchange (DEX) volume experienced a notable surge, with an average daily volume of $8 million, representing a 95% QoQ increase. Ref Finance emerged as the leading DEX on the protocol, with $6 million daily volume, surpassing Orderly Network. Lastly, NEAR observed a significant increase in its stablecoin market cap during Q1 2024, soaring 176% QoQ to $214 million. Notably, USDT experienced a significant surge, with its market cap increasing by 1,155% QoQ, reaching $88 million.  Outperforming Top 20 Cryptocurrencies Regarding price action, NEAR Protocol’s native token has exhibited strong performance, surpassing the top 20 cryptocurrencies in the market with a 9.4% uptrend in the past seven days. Meanwhile, Bitcoin has experienced a minor 1.5% price correction over the past 24 hours. This positive trend has enabled NEAR to reclaim the significant $7.40 price level, which is important for bullish investors.  Looking ahead, the $7.60 mark may present a potential resistance level for the token, serving as a crucial barrier to monitoring. It could pave the way for a retest of the $8 mark, signaling further upward momentum if successfully breached. Related Reading: Heres Why This Crypto Analyst Believes Bitcoin Is At A Prime Buy Zone Conversely, the $6.80 mark has demonstrated its significance as a key support level. It was previously tested over the weekend and effectively prevented a more significant price decline.  Despite the optimistic outlook, it is important to note that the token remains down by over 64% from its all-time high of $20.4, reached in 2022. Featured image from Shutterstock, chart from TradingView.com

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Near Protocol Breaks Out From Wedge Pattern: Why This Could Trigger A 37% Crash

Near Protocol has had a good year in 2024 so far and has continued to hold up quite nicely despite the multiple crashes that have rocked the market. However, it seems that the altcoin may have exhausted its runway, as a crypto analyst believes its earlier breakout is very bearish for the price. Near Protocol Breaks Out Of Wedge Pattern At the start of the month of May, the Near Protocol price had formed a wedge pattern after falling to $5.5 and then recovering slightly. This wedge pattern would hold its price in a tight range for a while. However, by the middle of the month, the Near Protocol price broke out of the wedge pattern and began a move upward. Related Reading: Shiba Inu Elliot Wave Count Falls Into Place, Heres Where The Bullish Wave 4 Says The Price Is Headed Following the breakout, the altcoins price saw an over 15% recovery that put its price firmly above $8, but this did not last for long. Once the Bitcoin price began to retrace and the crypto market followed, so did the Near Protocol price decline. This confirmed the bearishness hat was brewing in the price of the coin. Crypto analyst Kledji Cuni revealed in a TradingView post that this breakout remains bearish for the price. According to him, the pattern is still very solid, meaning that the breakout actually marked the beginning of the bearish trend. As for how the price will move from here, the analyst expects that Near Protocol will continue to fluctuate around its current level of $7.3. However, the downtrend is expected to happen regardless. The price may spend some time in the same zone before it moves down for an impulsive, he stated. Targets for the decline include an initial 8% drop to $6.78. Following this is another expected drop down to the $6 level. Then finally, the analyst expects the downtrend to bottom out around $4.6. If it goes this low, it would mean a total decline of 37% from its current price. A Reversal In The Cards? Recent developments in the metrics of Near Protocol lend credence to the crypto analysts prediction of an impending decline. For one, the coin is seeing losses in the last month after starting off 2024 on a very strong foot. This is in addition to the notable decline in its daily trading volume. Related Reading: Cardano Price Prediction: Crypto Pundit Forecasts 8,300% Rally To $38, Heres When The Near Protocol daily trading volume has dropped more than 18% in the last day to approximately $246 million. This decline suggests a decline in interest in the altcoin and could be a contributing factor to the decline. At the time of writing, Near protocol is trending $7.3, with a 0.89% decline in the last day and a 4.28% decline in the last week. Featured image from U.Today, chart from Tradingview.com

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Altcoins Poised for a Surge Amid Bitcoin Volatility: Analysts Predict Potential $4 Trillion Market Cap by 2025

Altcoins have historically be­en overshadowed by Bitcoin’s dominant marke­t presence. Howe­ver, recent fluctuations in Bitcoin’s value­ and the growing popularity of altcoins suggest that the tide­ may be turning. Former Bloombe­rg analyst Jamie Coutts suggests a strategy for inve­sting in altcoins that involves monitoring the trend in smart contract platforms (SCP) and the­ status of […]

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NEAR Hits 0.000123 BTC Barrier, with Veteran Analyst Eyeing Jump to 25,000 Sats

NEAR faces critical resistance at 0.00012274 BTC, with analyst Michaël van de Poppe noting potential gains to 25,000 sats amid…

The post NEAR Hits 0.000123 BTC Barrier, with Veteran Analyst Eyeing Jump to 25,000 Sats first appeared on The Crypto Basic.

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NEAR Launches Infrastructure Committee with $4 Million in Funding

The NEAR Foundation has launched the Infrastructure Committee, funding $4 million to strengthen Key Infrastructure, decentralize decision-making, and streamline efforts, with half the budget still available. (Read More)

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Breakout Of The Year? Crypto Analyst Predicts Where NEAR Is Headed Next

The price of Near Protocols native token, NEAR, has been on an upward momentum recently, with a crypto analyst projecting further price increases and suggesting that the coin could see a surge to more than $10 soon. Related Reading: Solana Primed For Takeoff? Expert Analysis Points To Buying Opportunity Near Protocol Price Poised For $10 Surge Popular crypto trader and analyst, identified as Bluntz on X (formerly Twitter) has unveiled a major price prediction for NEAR. The analyst disclosed that the price of NEAR is exhibiting historical patterns indicative of a bullish rally, potentially surpassing $10. $near turbo sends here imo pic.twitter.com/4o28UEsfE1 Bluntz (@Bluntz_Capital) April 3, 2024 Bluntz, a pseudonymous analyst known for his eerily accurate prediction of Bitcoin (BTC) in June 2018, forecasted that the price of BTC would hit a bottom out at $3,200 after reaching an all-time high of $20,000 at the time. True to his foresight, Bitcoin dropped to around the projected price target by December of the same year.  Now, using technical analysis based on the Elliott Wave principle, Bluntz has shared a price chart displaying Near protocols potential rally to over $10.  NEAR market cap currently at $7.4 billion. Chart: TradingView.com The Elliott Wave theory, developed by Ralph Nelson Elliott is a technical methodology that analyzes recurrent and long-term price patterns related to persistent changes in investor sentiment and psychology. This technical tool is used to predict the price movements of cryptocurrencies based on greed and fear.  Bluntz provided two charts depicting Near Protocols price movements against Tether (USDT) and another against Bitcoin.  In both charts, Near Protocol had undergone a sequence of price fluctuations, moving between green and red zones before exhibiting strong price fundamentals that could potentially propel its price above $10. The crypto analyst has pinpointed a projected timeline for this price surge around mid April, specifically before the 15th. Insights Into NEARs Recent Price Movements Over the past month, the price of Near Protocol has been on a steady upward trend, boasting an impressive 26% increase. Moreover, the cryptocurrencys total market capitalization has risen by over 6%, accompanied by a 25% increase in its 24-hour trading volume.  Related Reading: Trouble Ahead? Binance Coin Futures Market Under Pressure With Negative Funding Rates At the time of writing, Near Protocol is trading at $7.09, reflecting a significant increase of 5.89% in just one day, according to CoinMarketCap. These developments highlight the increasing appeal and demand for the popular token within the dynamic crypto space. Illia Polosukhin, co-founder of Near Protocol has also commended the NEAR teams consistent efforts in maintaining the cryptocurrencys steady growth and development over the past few months. Polosukhin noted that due to the teams dedication, Near Protocols capacity has surged by 50%, ensuring a more effective network to serve users.  Featured image from Pexels, chart from TradingView

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NEAR Protocol (NEAR) Poised for 50% Surge: Analysts Bullish on Breakout Potential

NEAR Protocol (NEAR) is gaining massive attention as its price rises and shows significant bull trend indicators. At $7.03 each, NEAR Protocol has a strong 24-hour trading volume worth $1.49 billion-plus a market capitalization of $7.45 billion. During the last day alone, NEAR has increased by 6.48% which indicates that positive momentum and investor confidence […]

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NEAR Protocol (NEAR) Poised for Significant Upward Move: Analyst Eyes $10

NEAR Protocol (NEAR) has recently made headlines among cryptocurrency enthusiasts, indicating a possible upward trend that caught investors attention. NEAR demonstrated enormous strength over the last month, skyrocketing by nearly 58%. This rally signifies increasing faith in the projects fundamentals and market position. Nevertheless, NEAR encountered a minor setback, with just a 3.5% drop observed […]

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NEAR Protocol (NEAR) Surges: Analyst Eyes $14-$15 Breakout Amid Optimism

NEAR Protocol (NEAR) has seen an enormous boost in value, which has caught the eye of investors and analysts. In just one week, the token grew by almost 25% which suggests that there is a lot of momentum behind it and more room for growth. As of this writing, the token is priced at $7.17 […]

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NEAR Protocol Soars 7.3%, Is It Poised To Go Higher?

As the crypto industry navigates the waves of this bull run, projects like NEAR Protocol (NEAR) are edging forward with new partnerships and developments. NEARs remarkable performance has crypto analysts considering that the toke is getting underway for a massive surge. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Is NEAR Protocol A Market Leader? At the beginning of the week, crypto analyst World of Charts recognized a bullish flag pattern formed on NEARs monthly chart. According to the analyst, a successful breakout could be followed by a 60-65% bullish wave in the coming days. On Thursday, NEAR tested the $7.00 resistance level, reaching above the $7.50 mark before retracing as the day ended. NEAR breaking out of the bullish flag pattern on Thursday. Source: World of Charts Affirming his previous forecast, the analyst stated that if the token successfully holds above the breakout level, investors could expect the price to move towards $14-$15. Since then, the token has remained above the $7.00 mark, hovering between $7.3-$7.1. Another crypto analyst has been following NEARs performance this week similarly. According to Bluntz, the token has been one of the strongest movers from the lows and will probably be one of the first to make fresh highs. Moreover, he considers NEAR one of the better performers in the top 20 cryptocurrencies. Previously, the trader displayed a chart identifying an ABC zigzag pattern followed by a still-forming impulse wave pattern. NEAR's forming a impulse wave pattern according to the analyst. Source: Bluntz As NEAR broke out of the $7,00 resistance, the analyst reaffirmed his prediction for the tokens movements, considering it a market leader right now. Bluntz added that the token kept plodding along making fresh highs while everything else has stalled out and continued accumulating. Network Expansion And Price Surge The NEAR Protocol is a Layer-1 user-friendly and carbon-neutral blockchain focused on performance, security, and scalability. According to its team, the blockchain for everyone was built with usability in mind. NEARs total value locked (TVL) of $309 million makes it the 16th largest blockchain by this metric. Notably, the network has doubled its TVL since Q4 2023, when it sat in the 25th spot with $128 million. The protocol collaborates with other projects constantly to continue expanding financial horizons. Projects like NodeKit and TrueZK have recently integrated NEARs solution designed for Ethereum rollups, NEAR DA. Similarly, on Thursday, it announced its partnership with Colombian fintech Lulo X and Peersyst Technology to redefine the parameters of digital finance. These collaborations have been seemingly well-received by the NEAR community. Despite being down by 6.25% in the monthly time frame and 65% below its all-time high (ATH) of $20,44 set in January 2022, the blockchains token has shown a remarkable performance during this bull run. In the last three months, NEAR has soared over 146%. Moreover, the tokens daily trading volume has increased by 6.5% in the past day, with over $800 million traded. Likewise, its market capitalization has risen 5% during the same timeframe, making it the 17th biggest cryptocurrency by this metric. As of this writing, NEAR is trading at $7.2, representing a 7.3% jump in the last 24 hours and a 26% rise in the past week. Related Reading: Crypto Bull Run Set To Return Next Week, Predicts Arthur Hayes NEAR's performance in the one-week chart. Source: NEARUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

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