Twenty-One of the Top 25 Coins Fell Last Week. One Rose, and It Was Not Bitcoin.
Last week the crypto market bled across the board, but one coin defied the selloff in a way that raises more questions than it answers. Whether that makes it a breakout opportunity or a warning sign depends on what you…
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In the week ending October 12, 2026, the cryptocurrency market faced significant losses, with 21 of the top 25 coins by market value declining. However, NEAR Protocol (CRYPTO:NEAR) stood out, rising 12.7% to $5.82, including a remarkable 10.9% jump in just 24 hours.
During this time, Bitcoin (CRYPTO:BTC), the leading cryptocurrency, also fell, though it was the smallest drop among major coins at 3.2%. This decrease showed that Bitcoin, often seen as a safe haven in turbulent times, still couldn’t protect investors from losses. For those seeking gains, NEAR was the only option among the more prominent cryptocurrencies.
Bitcoin Fell Least, and Smaller Coins Fell Harder
In a market where most coins fell, Bitcoin’s 3.2% slide set the floor for losses across the board. As we moved down the rankings, the declines became more pronounced. Ethereum (CRYPTO:ETH) fell by 6.4%, XRP (CRYPTO:XRP) dipped 7.7%, and Solana (CRYPTO:SOL) lost 8.2%. Dogecoin (CRYPTO:DOGE), once a playful internet joke, fell the hardest, down 9.7%.
| Coin | Seven-Day Change |
|---|---|
| Bitcoin | -3.2% |
| Ethereum | -6.4% |
| XRP | -7.7% |
| Solana | -8.2% |
| Dogecoin | -9.7% |
| NEAR Protocol | +12.7% |
Why Smaller Coins Fell More Than Bitcoin
Liquidity plays a vital role in these fluctuations. Liquidity refers to how easily an asset can be sold without affecting its price. Bitcoin benefits from a solid base of buyers. So, when new buyers step back, underlying demand helps stabilize the price.
In contrast, smaller coins like NEAR have thinner trading volumes, meaning when demand decreases, prices can drop sharply. When 21 of the top 25 cryptocurrencies fall at once, it often signals a broader market retreat from risk. Negative news about one project can’t usually drag down so many coins at once. This week doesn’t confirm a bear market—characterized by prolonged price drops—but it shows cautious investors often flock to the largest, most liquid coins first.
Why NEAR Protocol’s 146.3% Monthly Gain Looks Crowded
NEAR’s 146.3% gain over the past month is eye-catching, but these quick rises often happen when traders enter a crowded position rather than when the underlying network’s fundamental value changes. NEAR’s development team is focused on building an AI-centered platform, which remains a hot topic in both the stock and crypto markets. However, we don’t have data on user activity or network fees to confirm whether this increased interest translates to real demand.
Despite this impressive growth, NEAR is still trading 71.5% below its all-time high. This significant gap suggests that while the recent price rise is notable, it may be a temporary bounce in an ongoing decline. Many investors who bought near the peak might consider selling as they near break-even.
Moreover, a single coin gaining value during a broad market decline typically signals trouble. In such a situation, the lone winner is often the most crowded trade, as many traders chase what appears to be a rising asset. Some of these trades can continue to rise, but they often collapse quickly when buying interest wanes, especially in smaller coins with limited liquidity.
Is NEAR Protocol’s Rally a Positive Sign or a Red Flag?
In our analysis, NEAR’s recent surge raises potential concerns. A 12.7% weekly gain stands out starkly against Bitcoin’s 3.2% drop and Dogecoin’s 9.7% decline. This suggests that money is flowing into this one AI-focused asset while many other investments decline. However, data is lacking to support sustainable demand behind this price move. The 10.9% increase in just 24 hours further heightens our concern, as late-stage buying often signals traders chasing momentum.
NEAR holders should also be wary of overhead supply, given that the coin is still significantly below its previous highs. If NEAR stays above $5.82 through the end of October while Bitcoin continues to slide, it may signal more than just crowd behavior. Conversely, if NEAR loses its recent gains when Bitcoin stabilizes, it may suggest that the excitement was fleeting.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
