$NEAR Price Dives Below $5 Amid Intents Exploit
The $NEAR price fell below $5 on October 1 after a reported $3.8 million exploit involving $NEAR Intents, a token that allows users to earn rewards in near Protocol's native cryptocurrency.
$NEAR Intents said the incident was caused by a bug in the interaction between its Omni deposit and withdrawal system and the platform's smart contract. The team paused services, patched the contract-side vulnerability, and committed to reimbursing affected funds in full.
TradingView's Binance daily chart shows $NEAR at $4.938, down 7.55%, with a daily high of $5.540 and a low of $4.742. The price stood about 10.9% below that high at the chart snapshot.
The Murrey Math indicator places $NEAR below its $5.078 overshoot level after the price briefly moved beyond the $5.469 extreme-overshoot line. Both levels now sit above the market, creating nearby hurdles for a recovery.