CryptoMedium•3 November 2026•
1 min read
NEAR Price Drops 7% Despite Governance Approval to Cut Token Issuance
Key Facts
1NEAR token price plunged 7% in 24 hours, trading below the $4 mark.
2NEAR Protocol governance approved a proposal to reduce the annual token issuance rate to 1.6%.
3Derivatives market data showed falling open interest, suggesting traders are reducing exposure.
NEAR token price plunged 7% in 24 hours to trade below the $4 mark on November 3, 2026. Invezz reported that the NEAR Protocol governance board approved a proposal to reduce the annual token issuance rate to 1.6%.
Derivatives market data showed falling open interest, suggesting that traders are actively reducing their exposure to the token. According to Invezz, technical selling pressure and weakening derivatives positioning overshadowed the fundamental news of reduced supply growth.