NEAR Sheds 12% as $1.1B Liquidation Wave Crushes Leveraged Longs After 120% Rally

Published October 13, 2026, 9:50 PM PKT. Based on CoinGecko market data and analysis via CoinStats, CoinMarketCap and OKX price data.

NEAR Protocol gave back a chunk of its October gains in a single day. NEAR fell about 12% in 24 hours on October 13, 2026, trading near $5.10, according to market data from CoinGecko, as a $1.13 billion wave of leveraged liquidations swept across the crypto market and punished the longs who had piled in during the token's month-long run, per analysis reported by CoinStats. CoinMarketCap, citing the same analysis, tracked a steeper slide of about 17% over roughly 25 hours. The selloff landed just as NEAR was cooling off from one of the strongest rallies among large-cap tokens this fall.

The $1.1 billion long squeeze

The damage was leverage, not fundamentals. Roughly $1.13 billion in leveraged crypto positions were liquidated, and most of them were longs, according to CoinMarketCap via CoinStats. NEAR's own wipeout was sharp: about $10.23 million in NEAR positions were liquidated across Binance, Bybit and OKX in 24 hours, with 91% of them longs, per CoinStats. Open interest in NEAR fell $99.83 million over two days, and funding turned negative at -0.0015% per four hours, the same data showed, a classic sign that leveraged longs capitulated and the market flipped to paying shorts.

Profit-taking after a 120% run

The fall followed a vertical rally that left the token exposed. NEAR had gained roughly 120% over the prior 30 days, with OKX and CoinGecko 30-day figures in the +111 to +121% range, which made it one of the most overextended large caps heading into the week. CoinMarketCap attributed the slide to three forces arriving together: hawkish Federal Reserve minutes that triggered a broader crypto selloff, profit-taking after the overextended rally, and heavy leverage built up in NEAR perpetual futures, per the CoinStats analysis. Even after the drop, the context favors dip buyers on paper: NEAR remains roughly 75% below its $20.44 all-time high from January 2022, according to CoinGecko and CoinMarketCap data.

The $5.00 line in the sand

Technically, the market is watching one number. CoinMarketCap's AI price analysis puts key support at $5.00, with $4.88 as the next level below if that breaks. NEAR sits near rank 21 by market capitalization at roughly $6.5 to $6.9 billion, per CoinGecko and CoinMarketCap, so a clean hold at $5.00 would confirm the selloff as a leverage flush inside an intact uptrend, while a break opens the door to a deeper retracement of the month's gains.

CPI tomorrow decides the next move

There is an institutional counterpoint to the panic. Bitwise's NEAR ETF, ticker NRR, recorded a second straight week of inflows at $13.05 million, though that was down from $58.35 million the prior week, per CoinStats, suggesting spot demand is still absorbing supply even as leveraged traders were forced out. The next catalyst is macro: the U.S. September CPI report prints October 14 at 8:30 AM ET, 17:30 PKT, and a cool core reading would relieve the hawkish pressure that helped start the selloff, while a hot print could extend it.

This article is news reporting and is not investment advice.

Sources

• CoinGecko, NEAR Protocol price and market data, primary source for NEAR's 24-hour move, trading range, market cap and all-time high context
• CoinStats, market liquidation and derivatives analysis (Oct. 13, 2026), secondary source for the $1.13 billion market-wide liquidation wave, NEAR's $10.23 million in liquidations with 91% longs, the $99.83 million open interest drop, the -0.0015% funding rate, and the Bitwise NRR ETF inflow figures
• CoinMarketCap, NEAR price page (Oct. 13, 2026), secondary source for the ~17% 25-hour slide, the three-factor attribution, and the $5.00 and $4.88 support levels
• OKX, NEAR Protocol price page (Oct. 13, 2026), secondary source for the 30-day rally figures and current trading levels