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NEAR Protocol Surges Past $2.19 Resistance on 61% Volume Spike

Published

2 месяца ago

7 июля, 2025

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The cryptocurrency market is showing signs of renewed strength as NEAR Protocol broke through a key resistance level during the final trading hour of July 7. The decisive move came on exceptional volume that was 61% higher than the daily average, confirming the validity of the breakout from an ascending triangle pattern that had been forming throughout the day.

Trading data shows NEAR-USD established strong support in the $2.16-$2.17 range with multiple bounces before finally overcoming resistance at $2.19-$2.20. The breakthrough was particularly notable during the 60-minute period ending at 14:04, when NEAR surged 1.13% from $2.17 to $2.19, forming what analysts describe as a textbook cup and handle pattern.

This technical development comes as the broader crypto market experiences significant momentum, with Bitcoin crossing $109K and approaching its all-time high of $111,970.

The total cryptocurrency market capitalization has expanded to $3.36 trillion on a 40% surge in trading volume, creating favorable conditions for altcoins like NEAR to capitalize on improved market sentiment. Despite NEAR’s positive price action, the asset remains significantly below its all-time high of $20.42 reached in January 2022. Current technical indicators present a mixed picture, with 14 green days out of the last 30, but an RSI of 31.09 suggesting oversold conditions that could support further recovery.

Technical analysis

NEAR-USD exhibited notable volatility during the 24-hour period from 6 July 15:00 to 7 July 14:00, with a price range of $2.16 to $2.22, representing a 3.15% swing.
The asset established key support at $2.16-$2.17 with multiple bounces, while resistance at $2.19-$2.20 was eventually overcome during the final hour on exceptional volume (1.97M vs 24-hour average of 1.22M).
The decisive breakout above the $2.19 level, coupled with the formation of a bullish ascending triangle pattern throughout the period, suggests potential for continued upward momentum with the next resistance target at $2.22.
During the 60-minute period from 7 July 13:05 to 14:04, NEAR-USD exhibited a strong bullish trend, surging from $2.17 to $2.19, representing a 1.13% gain.
The asset broke through key resistance at $2.18 with exceptional volume spikes at 13:57-13:58 (143,856 units), forming a cup and handle pattern that culminated in a decisive breakout to $2.19.
Support established at $2.16 during the mid-period pullback (13:17-13:20) held firmly, with buyers stepping in aggressively to fuel the subsequent rally that peaked at $2.19 before minor profit-taking occurred in the final minutes.

CD20 Whipsaws 1.17% Before Finding Support

The CD20 index experienced significant volatility over the last 24 hours from 6 July 15:00 to 7 July 14:00, with a notable 1.17% price range ($21.06) between the high of $1,793.57 and low of $1,772.50.

After reaching a peak during the early hours of 7 July, the market entered a consolidation phase with a sharp 1.17% decline to $1,772.50 at 13:00 before recovering to $1,780.94 by the end of the period, suggesting potential stabilization following the earlier volatility.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Business

Crypto Trading Firm Keyrock Buys Luxembourg’s Turing Capital in Asset Management Push

Published

12 часов ago

16 сентября, 2025

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Crypto trading firm Keyrock said it’s expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Keyrock, founded in Brussels, Belgium and best known for its work in market making, options and OTC trading, said it will fold Turing Capital’s investment strategies and Luxembourg fund management structure into its wider platform. The division will be led by Turing Capital co-founder Jorge Schnura, who joins Keyrock’s executive committee as president of the unit.

The company said the expansion will allow it to provide services across the full lifecycle of digital assets, from liquidity provision to long-term investment strategies. «In the near future, all assets will live onchain,» Schnura said, noting that the merger positions the group to capture opportunities as traditional financial products migrate to blockchain rails.

Keyrock has also applied for regulatory approval under the EU’s crypto framework MiCA through a filing with Liechtenstein’s financial regulator. If approved, the firm plans to offer portfolio management and advisory services, aiming to compete directly with traditional asset managers as well as crypto-native players.

«Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards,» Keyrock CSO Juan David Mendieta said in a statement.

Business

Crypto Trading Firm Keyrock Buys Luxembourg’s Turing Capital in Asset Management Push

Published

12 часов ago

16 сентября, 2025

admin

Crypto trading firm Keyrock said it’s expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Business

Gemini Shares Slide 6%, Extending Post-IPO Slump to 24%

Published

12 часов ago

16 сентября, 2025

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Gemini Space Station (GEMI), the crypto exchange founded by Cameron and Tyler Winklevoss, has seen its shares tumble by more than 20% since listing on the Nasdaq last Friday.

The stock is down around 6% on Tuesday, trading at $30.42, and has dropped nearly 24% over the past week. The sharp decline follows an initial surge after the company raised $425 million in its IPO, pricing shares at $28 and valuing the firm at $3.3 billion before trading began.

On its first day, GEMI spiked to $45.89 before closing at $32 — a 14% premium to its offer price. But since hitting that high, shares have plunged more than 34%, erasing most of the early enthusiasm from public market investors.

The broader crypto equity market has remained more stable. Coinbase (COIN), the largest U.S. crypto exchange, is flat over the past week. Robinhood (HOOD), which derives part of its revenue from crypto, is down 3%. Token issuer Circle (CRCL), on the other hand, is up 13% over the same period.

Part of the pressure on Gemini’s stock may stem from its financials. The company posted a $283 million net loss in the first half of 2025, following a $159 million loss in all of 2024. Despite raising fresh capital, the numbers suggest the business is still far from turning a profit.

Compass Point analyst Ed Engel noted that GEMI is currently trading at 26 times its annualized first-half revenue. That multiple — often used to gauge whether a stock is expensive — means investors are paying 26 dollars for every dollar the company is expected to generate in sales this year. For a loss-making company in a volatile sector, that’s a steep price, and could be fueling investor skepticism.