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NEAR Protocol drops 8.8% amid futures liquidations, marking a correction after a strong autumn rally

Market News
12 Nov 2026, 19:24 WIB
CryptoTicker
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Bearish
NEAR Protocol drops 8.8% amid futures liquidations, marking a correction after a strong autumn rally

NEAR Protocol's price fell 8.8% to around $3.40 on November 12, 2026, driven by forced closures of long positions in the futures market and a weak overall crypto market. This decline is seen as a correction following a strong rally from under $2.50 in mid-September to nearly $5.90 in October, rather than a fundamental issue with the network. No major negative news triggered the drop, though a minor data incident at NEAR AI was reported but did not affect tokens or wallets. The market metrics show a cooling futures market with falling funding rates and open interest, and the next key support level is around $3.15. A planned issuance cut to reduce new token supply will start only in early 2027, so its price impact is yet to be seen.

NEAR Protocol trades at Rp62.106 on Pluang, down 9.95% in the past day as of Nov 13, 2026 00:42 WIB, showing a notable decline consistent with recent price drops. Despite this, the market cap remains substantial at Rp81,06 trillion with a strong buy interest of 94% among Pluang users. This aligns with the news of long liquidations impacting NEAR's price, while typical hold time on Pluang is 51 days, indicating investor patience amid volatility.

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