NEAR Falls 4.9% After Wednesday Rebound, Briefly Dips Below $5

NEAR Protocol (NEAR) closed at $5.005 Thursday, down 4.9% from Wednesday’s close and reversing most of the previous session’s 6.7% gain. The token briefly dipped below $5 during Thursday’s trading before ending the session above that level.

The intraday dip and closing price reflect different points in the session: NEAR traded below $5 briefly but finished at $5.005.

Bitwise launched the Bitwise NEAR ETF (NRR) in the United States on Sept. 29 as a spot NEAR product. Its main goal is to give investors exposure to the value of its NEAR holdings after operating costs. Staking is a secondary objective.

NRR had been trading for less than a month by the recent flow period. Its short operating history limits what its early activity can show about demand for NEAR across the broader market.