NEAR extended its bearish run with a 10% price drop over the last 24 hours, following a close below the $4.0–$4.7 demand zone. The decline comes as large players appear to have stepped back from the market amid recent crypto developments.
ETF inflows and network metrics show weakening demand
The NEAR Spot ETF recorded zero inflows over the past 24 hours, indicating a lack of fresh institutional demand through these products. While a single day of zero inflows does not establish a sustained withdrawal trend, it offers little support during the current decline.
Network revenue also fell to approximately $33,000, its lowest level this week, according to an analysis of recent token data.
Holder sentiment weakened as Near Intent's Total Value Locked (TVL) dropped by $15 million to $191 million over the last 24 hours. The reduction suggests that capital deployed across NEAR's DeFi ecosystem has decreased. Combined with weaker revenue, these figures raise questions about near-term ecosystem demand.
Technical breakdown adds pressure
NEAR currently faces pressure from both its technical breakdown and declining network metrics. Declining ETF inflows, shrinking DeFi activity, and the move below the $4–$4.7 demand zone all point to weakening demand.
With the token trading below its key 20-day and 50-day exponential moving averages (EMAs), a continued bearish run is likely to be prolonged in the short term.
Final summary
- NEAR extended its bearish run after closing below the $4.00–$4.70 demand zone.
- Zero Spot ETF inflows, weekly-low network revenue, and a sharp TVL decline point to cooling ecosystem demand.
