NEAR Investors Hope New Projects Will Help Coin Rebound From 21% Loss
2024年9月3日 - 10:30PM
NEWSBTC
While the market has rebounded following a poor start to the month
in September, some altcoins are still struggling with the leftover
bearishness. NEAR continues with the list of altcoins that keep up
their losses even as the majors, including Bitcoin and Ethereum,
recover from their respective slumps. According to CoinGecko, the
token fell by 21% since last week despite the market’s 3%uptick
today. Related Reading: SUI Crashes 23% As September
Unleashes Market Panic—Is A Comeback Possible? Although NEAR is
underperforming, developments on-chain continue to offset the
market’s bearishness. One of the most notable developments on NEAR
is Libre Capital offering tokenized real-world assets (RWAs) on
chain, bringing institutional interest to the platform RWAs
Create Buzz For The Protocol Libre Capital is a new crypto asset
management firm supported by market giants like Brevan Howard,
Hamilton Lane, and Nomura’s Laser Digital. It was founded four
months ago and has since experienced huge upward momentum.
According to Libre Capital Founder and CEO Avtar Sehra, Libre
surpassed the $100 million asset under management mark, cementing
the firm as one of the fastest-rising crypto asset management
companies on the market. Libre has achieved many milestones
since our MVP launch four months ago, surpassing our $100 million
aum target and expanding to multiple chains. Launch on
@NEARProtocol marks a crucial step towards our multichain wealth
strategy. Learn more here: https://t.co/dGCqKENTXu — Avtar Sehra
(@avtarsehra) September 2, 2024 NEAR and Libre’s partnership will
enable NEAR users to access tokenized versions of RWAs. As of
writing, users have access to Hamilton Lane’s credit Fund, Brevan
Howard’s Master Fund, and Blackrock’s ICS Money Market Fund,
bridging the gap between crypto and the traditional finance
space. According to Sehra, the launch of Libre on NEAR is “a
crucial step towards our multichain wealth strategy” which hints at
future support for more blockchains other than NEAR. But for now,
this development might help bring in more institutional investors
on the platform. NEAR On Goldilocks Zone Trading Range As of
writing, the bears experienced a strong rejection on the $3.8 price
floor giving the bulls time to regroup and bounce. NEAR is now
trying to stabilize between the $3.8-$4.3 trading range, allowing
investors and traders to target $5.2 in the long term.
Related Reading: Ripple Unleashes 1 Billion XRP: Could This Trigger
A Price Tsunami? NEAR continues to experience a strong bearish
momentum in the short term, but the bulls have since gathered
enough momentum to cancel out the token’s decline. The problem now
is when will NEAR have enough push to break through $4.3 in the
medium term. The relative strength index (RSI) suggests that
the token might experience a period of low volatility where the
bears and the bulls will have an equally strong momentum. But after
this, NEAR will have enough push to drive the bears out of the
market, breaking through $4.3 in the medium term before settling on
the $4.3-$4.7 trading range. However, this price movement is
completely dependent on the broader market momentum. If Bitcoin and
Ethereum continue to struggle, NEAR will have a lot of ground to
retake if the bears succeed in breaking through $3.8. Featured
image from Electromechanical Contractor Philippines, chart from
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