# NEAR Protocol’s Native Token (NEAR) Falls 9.2% as Holders Approve Supply Cut By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/49798 Published: 2026-11-06T04:06:45.000Z Updated: 2026-11-06T04:06:45.000Z Section: Investing > NEAR fell 9.2% over 24 hours as holders approved a plan to lower its maximum annual issuance rate from 2.5% to 1.6%. NEAR Protocol’s native token (NEAR) fell 9.2% over 24 hours as holders approved a plan to reduce its maximum annual issuance rate, a supply change phased in over two years. Bitcoin (BTC) was down 5.8% over 24 hours, while Ether (ETH) fell 7.8%. NEAR holders approved proposal HSP-029 with about 99.9% support. It lowers the maximum annual issuance rate from 2.5% to 1.6%. HSP-029 is projected to keep nearly 11.8 million NEAR out of circulation during the two-year phase-in. Annual issuance is the pace at which a network creates new tokens, often to reward validators. The vote follows [NEAR’s October return to the top 20](), when its market capitalization reached about $7.2 billion and NEAR Intents exceeded $31 billion in cumulative volume. ## Links in this article - [NEAR’s October return to the top 20](https://www.tokenpost.com/news/investing/27855)