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NEAR Protocol drops 4.9% to $5.005 after brief dip below $5 amid Bitwise NEAR ETF launch.

Market News
22 Oct 2026
Tokenpost
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Bearish
NEAR Protocol drops 4.9% to $5.005 after brief dip below $5 amid Bitwise NEAR ETF launch.

NEAR Protocol's token price fell 4.9% to close at $5.005 on Thursday, reversing most of the previous day's 6.7% gain. During trading, the price briefly dipped below $5 but recovered by the close. This price movement coincides with the recent launch of the Bitwise NEAR ETF (NRR) in the U.S. on September 29, which aims to provide investors exposure to NEAR's value after operating costs and includes staking as a secondary objective. Since NRR has been trading for less than a month, its early activity offers limited insight into broader market demand for NEAR.

NEAR Protocol's price on Pluang shows a sharper decline of 7.05% as of Oct 23, 2026 03:03 WIB, closing at Rp88.599, which contrasts with the brief dip below $5 mentioned in the article. The platform data also reveals a strong selling sentiment with 96% of orders being sell orders, while typical holders keep NEAR for about 51 days. This selling pressure is reflected in the market cap of Rp117.04 trillion and a 24-hour trading volume of Rp16.64 trillion, indicating active trading despite the price drop.

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