Crypto
NEAR Price Jumps 10.7% as US Spot ETF Launches
The price of NEAR Protocol's token surged 10.71% today after Bitwise Asset Management launched the first US spot NEAR ETF on NYSE Arca.
The new ETF, called NRR, offers direct exposure to the NEAR Protocol and allows participants to receive staking rewards through an in-house program.
This move has bolstered investor flows for NEAR, with its price trading firmly above its 20-day, 50-day, and 200-day moving averages at $5.281, $2.632, and $1.9474 respectively.
The strong upward momentum is also reflected in the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX), which suggest robust buying pressure.