The price of NEAR, the native token of NEAR Protocol, fell 4.9% over the past 24 hours to $3.88 on Tuesday, according to COINOTAG. The decline extended a single-session loss of more than 4% that pushed the token back to the $3.90 line, deepening a broader sell-off in AI-themed crypto assets.

A data snapshot taken at 13:08 UTC placed NEAR near the $3.90 mark. The token has drifted a further 0.3% lower since that reading.

The original report noted that two pressures were converging on the token, though the published excerpt did not elaborate on their specifics. Until those details are published, the sector-wide pullback in AI-themed crypto assets remains the backdrop the report itself identifies for the move.

For readers tracking the protocol, the significance of the decline rests on two reference points from the reporting. NEAR is the asset users spend on transaction fees and the asset holders stake to help secure NEAR Protocol, so its market price is a direct read on how the market currently values participation in the network's economy. At the same time, because the token is commonly grouped with AI-themed crypto assets, its session is unfolding alongside — and, per the report, deepening — a broader sell-off in that segment rather than as an isolated move.

The same datapoints that framed this report offer the clearest guide to what to watch next: subsequent snapshots will show whether NEAR continues to drift below the $3.90 line recorded at 13:08 UTC or stabilizes near it, and any follow-up elaborating on the two converging pressures would clarify the specific factors the report identified alongside the sector-wide sell-off.

Background

NEAR Protocol is a layer-one blockchain that uses a proof-of-stake consensus mechanism and sharding technology to process transactions in parallel, with the goal of supporting high-throughput decentralized applications. Its native token, NEAR, is used to pay transaction fees on the network and can be staked to help secure the protocol. In recent years, the project has also invested in artificial intelligence initiatives, and the token is commonly grouped with AI-themed crypto assets.

This content was first published on COINOTAG: https://en.coinotag.com/near-slides-4-9-percent-to-3-88-ai-token-selloff