NEAR Protocol Soars 4.75% in One Hour, Reaching $5.34 Amid $1.33 Million Short Liquidations

NEAR Protocol's price surged by 4.75% in just one hour on September 27, reaching $5.34. This sudden jump extended the token's 24-hour gain to an impressive 8.76%. The price increase came as short liquidations reached a substantial $1.33 million across major exchanges during the same hour.

According to data from Binance spot trading in the NEAR/USDT pair, NEAR climbed from $5.09 just one hour earlier to its new high of $5.34. This significant increase in price is attributed to the surge in short liquidations, which surpassed long positions by a wide margin.

NEAR Protocol currently ranks 21st by market capitalization at approximately $6.84629 billion. The recent price action highlights the volatility and unpredictability of cryptocurrency markets, where prices can change dramatically within a short period.