{"id":3188,"date":"2024-09-03T13:30:12","date_gmt":"2024-09-03T13:30:12","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=3188"},"modified":"2024-09-03T13:30:12","modified_gmt":"2024-09-03T13:30:12","slug":"near-investors-hope-new-projects-will-help-coin-rebound-from-21-loss","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=3188","title":{"rendered":"NEAR Investors Hope New Projects Will Help Coin Rebound From 21% Loss"},"content":{"rendered":"

While the market has rebounded following a poor start to the month in September, some altcoins are still struggling with the leftover bearishness. NEAR continues with the list of altcoins that keep up their losses even as the majors, including Bitcoin and Ethereum, recover from their respective slumps. According to CoinGecko<\/a>, the token fell by 21% since last week despite the market\u2019s 3%uptick today.\u00a0<\/p>\n

Although NEAR is underperforming, developments on-chain continue to offset the market\u2019s bearishness. One of the most notable developments on NEAR is Libre Capital offering<\/a> tokenized real-world assets (RWAs) on chain, bringing institutional interest to the platform\u00a0<\/p>\n

RWAs Create Buzz For The Protocol<\/h2>\n

Libre Capital<\/a> is a new crypto asset management firm supported by market giants like Brevan Howard, Hamilton Lane, and Nomura\u2019s Laser Digital. It was founded four months ago and has since experienced huge upward momentum. According to Libre Capital Founder and CEO Avtar Sehra, Libre surpassed<\/a> the $100 million asset under management mark, cementing the firm as one of the fastest-rising crypto asset management companies on the market.\u00a0<\/p>\n

Libre has achieved many milestones since our MVP launch four months ago, surpassing our $100 million aum target and expanding to multiple chains.<\/p>\n

Launch on @NEARProtocol<\/a> marks a crucial step towards our multichain wealth strategy. Learn more here: https:\/\/t.co\/dGCqKENTXu<\/a><\/p>\n

\u2014 Avtar Sehra (@avtarsehra) September 2, 2024<\/a><\/p>\n

NEAR and Libre\u2019s partnership will enable NEAR users to access tokenized versions of RWAs. As of writing, users have access to Hamilton Lane\u2019s credit Fund, Brevan Howard\u2019s Master Fund, and Blackrock\u2019s ICS Money Market Fund, bridging the gap between crypto and the traditional finance space.\u00a0<\/p>\n

According to Sehra, the launch<\/a> of Libre on NEAR is \u201ca crucial step towards our multichain wealth strategy\u201d which hints at future support for more blockchains other than NEAR. But for now, this development might help bring in more institutional investors on the platform.\u00a0<\/p>\n

NEAR On Goldilocks Zone Trading Range<\/h2>\n

As of writing, the bears experienced a strong rejection on the $3.8 price floor giving the bulls time to regroup and bounce. NEAR is now trying to stabilize between the $3.8-$4.3 trading range, allowing investors and traders to target $5.2 in the long term.\u00a0<\/p>\n\n

NEAR continues to experience a strong bearish momentum in the short term, but the bulls have since gathered enough momentum to cancel out the token\u2019s decline. The problem now is when will NEAR have enough push to break through $4.3 in the medium term.\u00a0<\/p>\n

The relative strength index (RSI) suggests that the token might experience a period of low volatility where the bears and the bulls will have an equally strong momentum. But after this, NEAR will have enough push to drive the bears out of the market, breaking through $4.3 in the medium term before settling on the $4.3-$4.7 trading range.<\/p>\n

However, this price movement is completely dependent on the broader market momentum. If Bitcoin and Ethereum continue to struggle, NEAR will have a lot of ground to retake if the bears succeed in breaking through $3.8.<\/p>\n

Featured image from Electromechanical Contractor Philippines, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

While the market has rebounded following a poor start to the month in September, some altcoins are still struggling with the leftover bearishness. NEAR continues with the list of altcoins that keep up their losses even as the majors, including Bitcoin and Ethereum, recover from their respective slumps. According to CoinGecko, the token fell by […]<\/p>\n","protected":false},"author":0,"featured_media":3189,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3188"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3188"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3189"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}