NEAR fell by 7% despite approval of emission reduction

The cryptocurrency NEAR Protocol (NEAR) depreciated by approximately 7% on November 6, 2026, dropping to $3.74. The decline occurred amid a massive sell-off of digital assets and American tech stocks, despite the recent approval of a proposal to change the token's emission.

According to market aggregators, over the past 24 hours, NEAR traded in a range from $3.63 to $4.05. The daily trading volume was about $672 million, and the market capitalization approached $4.9 billion.

Over seven days, the token lost about 12%, and approximately 28% over the month. However, compared to the same period last year, the value of NEAR remained significantly higher.

The decline coincided with a sell-off in the American stock market. By the end of trading on November 5, the Nasdaq Composite index fell by 5.5%, and the S&P 500 by approximately 4.4%.

Market participants reduced investments in risky assets amid concerns about infrastructure spending on artificial intelligence and the future prospects of the tech sector.

Simultaneously, Bitcoin dropped to $75,000–76,000. According to CoinGlass, the total volume of forcibly liquidated cryptocurrency positions over 24 hours exceeded $1 billion. Most of the liquidations were long positions by traders expecting price increases.

NEAR was also under pressure, with its daily decline being stronger than the overall cryptocurrency market drop.

Reduction in NEAR emission has not yet taken effect

On November 2, participants in the House of Stake governance system approved proposal HSP-029, which provides for a gradual reduction in the maximum annual emission of NEAR from 2.5% to 1.6%.

The initiative received support from about 99.96% of the voting power of the participants.

According to the document, the new schedule envisages a reduction in the maximum emission over 24 months after the implementation of the changes begins.

According to the authors of the initiative, in the first two years, this will allow for the issuance of approximately 11.8 million fewer NEAR than if the current parameters were maintained.

At the same time, the distribution of new tokens will remain the same: 90% will be directed to staking participants, and 10% to the protocol treasury.

The reduction in emission should decrease the rate of supply dilution but will simultaneously lead to a reduction in staking rewards.

The authors of the proposal estimate a possible reduction in the calculated gross staking yield from 5.27% to 3.37%, assuming current user participation assumptions remain.

However, the result of the vote does not mean an immediate change in the network rules.

First, the decision must undergo a 14-day review period by the House of Stake Security Council. In the absence of a veto, a 90-day transition period will follow, after which technical implementation of the new parameters by validators will be required.

Thus, the current NEAR emission remains unchanged, and the long-term effect of the proposal is not yet directly reflected in the number of tokens issued.