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Cryptocurrency Report.

One Cryptocurrency Sustaining Above the Support Levels- NEAR Protocol (NEAR)

06 March 2025

NEAR
Investment Type
Crypto
Risk Level
Action
Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. NEAR Protocol (NEAR) is an open-source blockchain platform designed to provide a fast, scalable, and developer-friendly infrastructure for decentralized applications (dApps). By prioritizing speed, scalability, and cost-effectiveness, NEAR enables developers to build and deploy dApps that can rival traditional centralized applications in performance and usability. NEAR has a market capitalization of ~USD 3.65 billion (as per TradingView as of March 06, 2025).

Last week, the S&P Cryptocurrency Broad Digital Market (BDM) Index started on a bearish note and extended its decline, dropping 631.02 points (~11.56%) to close at 4,828.16 on February 28, 2025. However, as the new trading week begins on March 3, the index has regained positive momentum. The broader cryptocurrency market is also trending upward, with major assets like Bitcoin and Ethereum posting gains, further reinforcing the prevailing bullish sentiment.

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