The last week has been fruitful for NEAR investors as the price momentum carried a largely upward direction. From a level of just above $3 on June 19 to currently trading at $4.30, the token took a jump of 43%. As of writing, NEAR price is up a staggering 15.88% in the last 24 hours, according to CoinMarketCap. Meanwhile, traders are looking for the next significant NEAR price drop.
NEAR Price Drop At Which Level?
Crypto traders are looking to find the next chance to purchase NEAR coin. Trader Crypto Tony was last week looking to buy the coin if NEAR price was to capitulate from $3.40 level to $2. However, NEAR price jumped around 50% from that level to reach a high of $4.38.
However, the trader said he would still wait for the $2 buying opportunity despite upward price movement.
“50% up since this ($3.40) demand zone was tested on $NEAR. I have more bids waiting at $2.00, but I am very happy with this move so far.”
Meanwhile, NEAR’s market cap also spiked heavily in the last one week. From a market capitalization of $2.22 billion last week to the current size of $2.88 billion, it took a massive 30% jump.
Changes In NEAR Foundation To Suit Market Conditions
Adapting to the ongoing crypto downturn, the company made significant changes within its structure. NEAR recently created a product and engineering organization under a new product and engineering leadership.
Marieke Flament, chief executive officer of NEAR Foundation, in a blog said the crypto ecosystem is not immune to these shocks.
“The crypto ecosystem is more robust than it was three years ago. There is more capital than ever flowing into projects, an increasing amount of top talent. Also, there is a matured infrastructure that provides a better foundation for more projects to flourish.”
Also, the foundation announced around 17 team members will be leaving as part of the reorganization. However, it created 16 new open positions that help the foundation in various roles.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.