Photo Credit: cryptoticker
Dubai, UAE: NEAR Protocol recorded a sharp decline on Friday, October 23, 2026, falling 7.57% to $4.91 as weakness in US technology stocks and growing economic uncertainty triggered selling across the cryptocurrency market.
The decline came amid a broader retreat from risk-sensitive assets, with semiconductor and technology stocks facing pressure on Wall Street. Oil prices remaining above $111 per barrel added to inflation concerns, prompting investors to reassess their exposure to volatile investments.
NEAR, a blockchain network increasingly associated with artificial intelligence applications, experienced steeper losses than major cryptocurrencies, including Bitcoin and Ethereum.
The selloff has drawn attention to the $4.83 price level, which represents the cryptocurrency’s 24-hour low and a potential short-term support area.
NEAR Price Falls to $4.91 as Trading Volume Rises
According to CoinGecko market data recorded at 2:56 a.m. Central European Summer Time on October 23, NEAR was trading at $4.91, down 7.57% over the previous 24 hours.
The token moved between $4.83 and $5.33 during the period, representing a decline of approximately 9.4% from its daily high to its lowest point.
NEAR’s market capitalization stood at approximately $6.42 billion, placing it 19th among cryptocurrencies by market value.
Trading activity remained significant, with 24-hour volume reaching $695.8 million, reflecting increased market participation during the price decline.
The cryptocurrency’s performance was notably weaker than that of larger digital assets, suggesting stronger selling pressure on tokens associated with emerging technology investment themes.
Bitcoin, Ethereum and Solana Also Record Losses
Major cryptocurrencies also declined as investors responded to weakness in global financial markets.
Bitcoin fell 3.30% to $81,438, while Ethereum dropped 3.31% to $2,393. Solana recorded a 3.15% decrease, trading at $103.91.
The figures illustrate how NEAR experienced a considerably sharper correction than the larger digital assets during the same trading period.
| Cryptocurrency | Price | 24-Hour Change | 7-Day Change |
|---|---|---|---|
| NEAR Protocol | $4.91 | -7.57% | -8.19% |
| Bitcoin | $81,438 | -3.30% | -1.28% |
| Ethereum | $2,393 | -3.31% | -2.74% |
| Solana | $103.91 | -3.15% | -2.05% |
Source: Market snapshot provided for October 23, 2026. Cryptocurrency prices fluctuate continuously.
The comparison indicates that NEAR faced greater short-term selling pressure, although this does not establish that the technology sector’s decline was the sole cause.
Nasdaq Technology Selloff Adds Pressure to NEAR
The weakness in NEAR coincided with a downturn in US technology and semiconductor stocks, sectors that have attracted significant investment because of expectations surrounding artificial intelligence.
As concerns over technology valuations and economic conditions increased, investors appeared to reduce exposure to higher-risk assets.
NEAR’s growing association with AI-focused blockchain applications may make its market performance sensitive to changes in sentiment towards the broader technology sector.
Unlike Bitcoin, which has a larger market capitalization and deeper trading liquidity, smaller cryptocurrencies can experience more pronounced price movements during periods of uncertainty.
Higher oil prices also contributed to concerns about inflation and the potential direction of interest rates, adding another source of pressure for speculative investments.
Can NEAR Hold the $4.83 Support Level?
The $4.83 level has emerged as an important short-term price area following NEAR’s recent decline.
Because the token reached this level during the latest trading session, market participants may monitor whether buyers return if the price approaches it again.
A sustained move below $4.83 could indicate continued selling pressure, although the available data does not establish the next reliable support level.
Conversely, a recovery above $4.91 followed by renewed buying interest could improve short-term sentiment.
The recent daily high of $5.33 provides another reference point for assessing whether NEAR can recover from its latest decline.
These levels are based on recent price activity rather than confirmed technical signals, and their significance will depend on subsequent trading volume and market conditions.
NEAR Remains Higher Over One Month and One Year
Despite the latest selloff, NEAR’s longer-term performance remains positive.
The cryptocurrency was up 11.07% over the preceding month and had gained approximately 126.36% over the previous year, according to the supplied market snapshot.
These figures suggest that the latest decline follows a period of substantial price appreciation, although individual investor returns depend on purchase timing.
NEAR nevertheless remains around 76% below its all-time high of $20.44, reached on January 16, 2022.
The difference highlights the volatility that has characterized the cryptocurrency’s trading history.
Circulating Supply Remains Stable
NEAR’s circulating supply stood at approximately 1.31 billion tokens, with total supply reported at a similar level.
The available information does not identify a major scheduled token unlock as the immediate cause of the selloff.
Instead, the decline appears to have coincided with wider market pressures affecting cryptocurrencies and technology-related investments.
With no specific supply event identified, attention remains focused on overall investor sentiment, trading activity and developments in global financial markets.
NEAR’s immediate price direction will likely depend on whether buying demand emerges near $4.83 and whether conditions across the broader cryptocurrency and technology markets stabilize.
