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NEAR Faces Resistance In Attempt To Breach $2 Level As Bears Block Its Way

newsbtc.com

Altcoins like NEAR have experienced a similar slump in value as the major cryptocurrencies during the previous several days. Cryptocurrency price index Coingecko reports that NEAR's price is currently bearish, reflecting the general market sentiment.

Read in Full: newsbtc.com
Bitcoin NEAR
$ 6.961

Timeline of Near-protocol


Skyward Finance suffers $3 million exploit on Near Protocol - The Block

An unknown hacker siphoned $3 million from Skyward Finance, a launchpad project on Near Protocol. The post Skyward Finance suffers $3 million exploit on Near Protocol appeared first on The Block.


NEAR establishes a Web3 center in South Korea and plans to expand in Asia - Bitcoinworld

In order to strengthen its ties with blockchain projects in Korea and Asia, the layer 1 blockchain NEAR Foundation, a non-profit organization, has announced Wednesday that it is creating a Web3 center in South Korea.


NEAR Protocol Scraps USN Stablecoin - Crypto Daily

A $40 million collateral gap has forced the shutdown of the USN stablecoin, which was launched in April 2022 by the NEAR Protocol.  Tokens Destroyed, TVL Drop The USN stablecoin was issued by the Decentral Bank DAO, which announced on October 24 that it would be wrapping up the project.


NEAR ecosystem's TVL declines by 45%, thanks to this factor - AMBCrypto

On 24 October, the NEAR protocol made another notable move to avoid a potential LUNA debacle. The NEAR Foundation issued an announcement stating that the USN, the NEAR algorithmic stable currency, is not sufficiently collateralized under extreme market conditions.


Near Foundation spends $40 million to replace USN stablecoin's ‘collateral gap' - The Block

Near Foundation announced a $40 million grant toward replacing a collateral gap of USN, a decentralized stablecoin on Near Protocol that had become undercollateralized earlier this year. The post Near Foundation spends $40 million to replace USN stablecoin's ‘collateral gap' appeared first on The Block.


Near Foundation Keeps $40 Million for USN Stablecoin - Coinspeaker

The Protection Programme is curated to secure customers from the latest concerns associated with USN by making sure that legitimate USN holders can redeem their USN on a one-on-one basis with USDT.


NEAR Foundation Announce $40Million Protection Fund! - CoinPedia

The NEAR Foundation is taking steps to help USN holders to avert another stablecoin collapse and a crypto pandemic. On October 24 the platform stated that it has set aside $40 million for a grant for the “USN Protection Programme.


Near Foundation launches “protection programme” of $40m for USN users - Cryptopolitan

Near protocol has announced a fund of $40 million to protect USN users from potential losses and ensure the stability of the stablecoin. The foundation made this decision in response to recent events surrounding other stablecoins, such as Tether's ongoing controversy over its lack of proper collateralization.


NEAR Foundation Announces $40M Protection Fund for Scrapped USN Stablecoin - BeInCrypto

In an effort to prevent another stablecoin collapse and crypto contagion, the NEAR Foundation is taking measures to support holders of USN. The post NEAR Foundation Announces $40M Protection Fund for Scrapped USN Stablecoin appeared first on BeInCrypto.


Near Protocol Loses $3 As Holders Sweat Over Price, Is There One Last Trick? - NewsBTC

NEAR's price struggles to hold above key resistance as price trends in a falling wedge price could break the downtrend.  NEAR continues to struggle as price clings to resistance in a bid to reclaim the region.

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