In a significant turn of events, NEAR Protocol showcased remarkable strength in the cryptocurrency market over the past two days, rebounding from a low of $2.52 to close at $2.73 by July 31. This impressive 8.27% recovery wasn’t just a blip—it coincided with a flurry of activity from institutional investors, hinting at strategic accumulation patterns. The action suggests growing faith in NEAR’s potential for enterprise blockchain integration.
Institutional Interest Peaks
The real fireworks began on July 30, between 6:00 p.m. and 7:00 p.m., when NEAR’s price took a sharp dive from $2.68 to $2.52. This wasn’t a quiet slump—it was a high-volume affair, with over 9.60 million shares changing hands. Analysts quickly pointed to this selloff as a critical accumulation zone, where astute institutional players swooped in, seeing an opportunity to secure their stakes at a discount. Such behavior underscores the calculated strategies of corporate trading desks and asset managers, who are increasingly focusing on blockchain platforms with enterprise-grade potential. This follows a pattern of institutional adoption, which we detailed in Standard Chartered Now Offers Institutional Bitcoin, Ethereum Trading—Here’s What It Means.
As the night unfolded, NEAR clawed back its losses, with corporate traders diligently defending the $2.52 support level. Their efforts paid off. By the morning of July 31, NEAR was on a steady ascent, hinting at the kind of coordinated positioning that savvy investors employ when eyeing long-term adoption.
Strategic Moves in the Final Hour
The last hour of trading on July 31 offered further clues about the institutional appetite for NEAR. Even though the gains were modest—just 0.15%—the volume was anything but. Over 28,000 shares were traded in each strategic entry at 9:17 a.m., 9:25 a.m., 9:52 a.m., and 10:01 a.m. These moves decisively pushed NEAR past the $2.725 resistance level, signaling a robust commitment from sophisticated investors betting on NEAR’s enterprise adoption potential.
“There’s a clear narrative emerging here,” says crypto analyst Jenna Thompson. “Layer 1 blockchain protocols like NEAR are increasingly becoming the darlings of institutional investors. They’re seeking projects with strong fundamentals and the ability to integrate seamlessly into existing enterprise systems.”
A Broader Trend?
NEAR’s recent performance isn’t happening in isolation. It’s part of a larger trend where institutional investors are selectively channeling capital into promising Layer 1 blockchain protocols. This trend, according to market observers, reflects a growing belief in the transformative potential of blockchain technology at an enterprise level. This mirrors the bifurcation in crypto markets, as discussed in Crypto Markets Bifurcate With Institutions Focusing on BTC and ETH While Retail Chases Alts: Wintermute. With the increasing interest from institutional players, the question now is whether this momentum can be sustained in the long run.
While the current market dynamics appear favorable for NEAR, it’s worth noting the inherent volatility that persists within the crypto space. The trading range for NEAR from $2.52 to $2.74, representing a volatility of 7.83%, is a testament to the fluctuating nature of these markets. However, the consistent institutional interest could provide a stabilizing effect.
As NEAR continues to garner attention, it remains to be seen how the broader market will respond. Will other Layer 1 protocols experience similar institutional interest? And how will retail investors react to these shifts in market dynamics? These are questions that will likely unfold in the coming months, as the crypto landscape continues to evolve.
For now, NEAR Protocol stands as a beacon of resilience and a potential harbinger of what’s to come in the world of enterprise blockchain adoption. The next few months will undoubtedly be pivotal in determining whether this trend will solidify into a long-term trajectory.
Source
This article is based on: NEAR Protocol Surges on Institutional Buying, Recovers 8% from Key Support Zone
Further Reading
Deepen your understanding with these related articles:
- Standard Chartered launches Bitcoin and Ether trading for institutions
- Standard Chartered Says It’s the First Global Bank to Offer Spot Bitcoin, Ether Trading
- Crypto Fund JellyC Teams Up With Standard Chartered, OKX for Secure Crypto Trading
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
