NEAR Protocol (NEAR) surged over 7.6%, reaching a peak of $2.18, following the launch of a new staking exchange-traded product (ETP) by Bitwise Asset Management. The ETP, now live on Deutsche Börse Xetra, marks a key milestone in regulated crypto investment products in Europe, offering exposure to the NEAR blockchain with integrated staking rewards.
NEAR Staking ETP Unlocks Institutional Access
Bitwise’s new product is designed for institutional and retail investors in Europe who want exposure to the AI-focused NEAR ecosystem while also benefiting from staking yields. The announcement has helped fuel fresh momentum behind the NEAR token, drawing interest from investors seeking yield in a secure and regulated environment.
“This is a major step toward bringing yield-generating digital assets into traditional finance,” commented analysts tracking Bitwise’s strategy in Europe.
With institutional-grade custody, daily liquidity, and built-in staking, the product is seen as a gateway for larger capital inflows into NEAR-based infrastructure projects.
NEAR Price Action and Technical Signals
Between July 1 and July 2, NEAR climbed from $2.09 to $2.18, reflecting a 7.6% gain, fueled by exceptionally high trading volumes and a strong technical breakout:
- Breakout Period: On July 2 (04:00–06:00 UTC), NEAR surged to $2.18, supported by unusually high volume (4.56M and 3.76M units, respectively), far above 24-hour average activity.
- Support and Resistance:
- Strong support formed around $2.02.
- Resistance was tested at $2.17, with multiple intraday rejections pointing to this level as a near-term ceiling.
- New Base Level: Price consolidated above $2.11 in later hours, indicating buy-side conviction and the formation of a higher support zone.
Volatility Patterns Show Bullish Follow-Through
During the final hour of the session (13:06–14:05 UTC), NEAR-USD witnessed high volatility:
- Between 13:40–13:48, price spiked to $2.15, followed by a brief pullback to $2.13.
- A volume surge of 131,013 units during this interval confirmed strong interest.
- The hour closed at $2.14, locking in a 0.5% gain even after the mid-session dip — signaling resilience.
The final consolidation around $2.14 suggests a potential launchpad for another leg upward if broader market sentiment remains supportive.
Key Takeaways:
- NEAR price jumped 7.6% to $2.18, backed by Bitwise’s new staking ETP launch in Europe.
- Trading volumes spiked, with technical breakouts and consolidation signaling a sustainable trend.
- The ETP opens regulated institutional access to NEAR with staking benefits.
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.