NEAR's K-line combined with on chain data to restore market behavior I saw some comments from my friends and they want to see me write a data analysis article about NEAR. The NEAR protocol is a decentralized application platform designed to provide applications with availability similar to that on today's networks. Since its launch on Binance OKX 20 years ago, it belongs to the grayscale Coinbase's carefully selected large cap Altcoins are now almost fully in circulation. I did not carefully study the narrative ecology of the project itself, and only analyzed it from the macro trend level of data K-line. It is only for reference and can be exchanged for learning, not investment advice. Alright, let's get straight to the topic. Let's first take a look at the K-line trend, as shown in the chart From the graph, it can be seen that almost most of the time it follows the trend of BTC, which means that every time BTC experiences a major uptrend due to macro and self narrative reasons, NEAR will also pull the market, and vice versa. However, it should be noted that after 1.20 this year, the price of NEAR has fallen below the low point of 85 last year, and is even approaching the low point of 23 years. 22 year low of 0.97 US dollars, currently 2.01 US dollars. Take another look at NEAR - Supply Mapping to understand who is driving market trends behind the scenes. The goal is to classify token supply based on the behavior of market participants. The idea is not only to look at the supply level, but also to see who is buying and who is selling. Are they primarily first-time buyers entering the market? Do we see confident buyers intervening when prices fall? Or is the current activity driven by momentum buyers, profit takers, or loss making sellers? As shown in the following figure, it has been clearly annotated. pay attention to ⚠️ When momentum buyers start buying, this may indicate the beginning of a new trend. When belief buyers begin to surrender and transform into loss making sellers, this may trigger a moment of surrender. When momentum buyers transform into profit takers, this may indicate a local top. When there is a surge in first-time buyers, it may indicate FOMO entering the market - usually a sign of a highly volatile environment. So it can be concluded that the number of first-time buyers has surged back to a plateau, and momentum buyers indicating a new trend are continuing to sell, while belief buyers (firm buyers) have insufficient buying momentum as prices fall, falling into a plateau. Let's take a look at NEAR's CBD data again, which is the cost based allocation, as annotated in the figure. I specifically discussed this data with Brother M at @ Murphychen888 As shown in the red circle in the picture, as the price drops, there are bargain hunting funds coming in, but not much. The conclusions drawn from CBD data are also generally consistent with the behind the scenes driving market trends mentioned earlier. Summary: Seeing this, I think the conclusion is self-evident. For reference by friends. Thank you everyone 😁