NEAR Price Drops 7% as Token Issuance Cut Proposal Passes

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR NEAR price drops approximately 7% on November 3, trading near $3.82 despite approval of a proposal to reduce annual token issuance. The HSP-029 proposal aims to lower the maximum issuance rate from 2.5% to 1.6% over 24 months. The planned changes could prevent 11.8 million NEAR tokens from entering circulation over two years. The proposal still requires further governance steps and a technical upgrade before implementation. NEAR Token Falls as Market Pressure Persists NEAR Protocol’s native cryptocurrency – NEAR price declined on Tuesday, even after the network’s community approved a proposal designed to reduce long-term token dilution. NEAR traded at approximately $3.82, down around 7% on the day, while its weekly losses reached roughly 13%, according to CoinMarketCap data. The decline suggests that the tokenomics announcement has not yet translated into an immediate improvement in market sentiment. The proposal, known as HSP-029, received overwhelming support from participating voters on Monday. According to the NEAR House of Stake, approximately 99.9% of the voting power sup...