NEAR Price Drops Over 12% After AI Cloud Launch

Near Protocol (NEAR) has seen a decline of over 12% in its price following the launch of its AI Cloud's OpenAI-compatible API. This new development enables developers to migrate applications and integrate NEAR token-based private inference features.

The recent weeks have witnessed increased market engagement, with daily trading volumes exceeding the 30-day average despite continued selling pressure. However, this growth in the ecosystem has been offset by sustained selling pressure.

Technically, NEAR/USD is trading above its key moving averages, indicating strength across short-, medium-, and long-term timeframes. The price action remains under broader selling pressure, with overbought signals suggesting a near-term pullback from resistance rather than an extended decline.