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Crypto 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 Layer-1 blockchain platform designed to facilitate the development and deployment of fast, scalable, and user-friendly decentralised applications (dApps). Its blockchain architecture focuses on enhancing transaction throughput, reducing transaction costs, and improving network scalability. These features aim to provide developers with an efficient environment for building decentralised applications while delivering a seamless user experience similar to traditional web services. NEAR has a market capitalization of ~USD 6.25 billion (as per TradingView as of October 15, 2026).
For the week ended October 09, 2026, the S&P Cryptocurrency Broad Digital Market (BDM) Index fell by 162.67 points, or 3.50%, to close at 4,496.12, indicating continued weakness across the broader digital asset market. Despite an initial upward move, the index reversed course amid persistent selling pressure. The downward trend extended into the new trading week on October 12, reflecting deteriorating market sentiment. Major cryptocurrencies, including Bitcoin and Ethereum, also experienced notable declines, adding to the broader market weakness. Overall, sustained selling pressure and losses across major digital assets indicate a bearish near-term outlook, with market sentiment remaining cautious.
Having understood the S&P Cryptocurrency BDM Index movement over the last week and the scenario for the upcoming week, one crypto that seems ‘Bearish’ at the current level appears to be NEAR Protocol (NEAR) based on the below technical parameters: -
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