conclusion

The price of NEAR Protocol has fallen by **13.24%** in the past 7 days and by **85.5%** in the past year. Based on the analysis provided, the situation for NEAR appears concerning. The price of NEAR has struggled to maintain itself above the 50-day moving average for the past two months, experiencing a significant drop starting from April 15th. This decline has been more pronounced compared to other major coins like Solana, Bitcoin, and Ethereum. The correlation analysis shows that NEAR has the lowest correlation with Solana and the highest correlation with Ethereum. Furthermore, the transactions and wallet balances of NEAR have shown interesting trends. On April 4th, there was an unusual peak in transactions, indicating heightened activity. However, the wallet balances experienced a sudden decrease from April 5th, coinciding with an increase in transactions. Although there was a positive surge in wallet balances on April 27th, it remains to be seen if this indicates a positive trend or temporary accumulation by larger external and smaller wallets. Looking at the broader network metrics, the number of asset senders and receivers has gradually declined over the past 60 days, with more users sending assets to centralized exchanges (CEX) than receiving from them. Transaction volumes have also decreased, with fewer transactions and a consistent trend of more transactions from CEX to NEAR than vice versa. The volume of transferred assets has shown fluctuations, possibly influenced by large-scale traders. In conclusion, unless another market crash occurs, the analysis suggests that the conditions for NEAR may not be favorable. There is a possibility of further price declines, and the overall metrics indicate a decline in activity and volume. It would be prudent to closely monitor the market dynamics and any potential shifts in the NEAR ecosystem.

Sharp NEAR Price Decline in Bear Market