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Cryptocurrencies: 12,885
Markets: 942
Marketcap: $ 2.10 T(0.32%)
24h Vol: $ 59.98 B
BTC Dominance: 48.13%

NEAR Protocol Price Surges Ahead of Sponge V2 Launch

NEAR Protocol’s price is surging as investors anticipate rewards from Sponge’s v2 token launch. Here are the key highlights:

Price Analysis

NEAR Protocol’s current trading price is $4.23 with a 24-hour trading volume of $75 million. It currently ranks #22 on CoinMarketCap with a market cap of around $4.25 billion and a circulation supply of over 1 billion NEAR coins.

The pivot point is $4.01 with immediate resistance at $4.53, $4.79, and $5.01. Support levels are seen at $3.78, $3.51, and $3.23. The relative strength index of 65 indicates bullish sentiment. NEAR is trading above its 50-day EMA of $3.51 and showing an upward channel and hammer candlestick pattern around $4.01, indicating an overall bullish trend.

Sponge V2 Launch

The upcoming Sponge v2 launch stands out for its unique staking approach and integration of play-to-earn gaming. Sponge V2 tokens will be earned exclusively through staking Sponge V1 tokens, with additional rewards for buying and staking Sponge tokens. Stakers can expect an initial APY of 40% along with the permanent locking of their staked V1 tokens after the V2 launch. Only 16,461,035,615 Sponge V2 tokens will be available.

Disclaimer

Cryptocurrency is a high-risk investment. This article is for informational purposes only and not investment advice. There is a risk of losing all invested capital in cryptocurrencies.

For more information, see: NEAR Protocol and CoinMarketCap.

tweet by Arslan Ali highlighted similar factors.

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