BlockDAG Mining Demo Impresses as NEAR Dips and Stellar Aims for $20 Breakout
The cryptocurrency market is experiencing mixed signals this week as major altcoins chart divergent paths. Recent trading activity has pushed Near Protocol (NEAR) below critical support levels, while technical analysts are painting an increasingly bullish picture for Stellar (XLM). At the same time, BlockDAG has captured attention with its latest mining hardware demonstration, showcasing practical innovations in the space.
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Market Pressure Weighs on NEAR Protocol
NEAR Protocol faced significant selling pressure recently, with the token declining 5.4% in just 24 hours. The price tumbled from $2.97 to $2.81, breaking through the important $2.84 support zone amid unusually high trading volumes. Although buyers attempted to defend the $2.76 level, the failure to reclaim $2.84 has transformed this former support into a resistance barrier.
Trading volume spiked to 14.19 million NEAR tokens, substantially above average daily levels, suggesting major position adjustments among traders. The combination of technical breakdowns and broader market headwinds has dampened near-term recovery prospects. Additional challenges from competing blockchain platforms continue to pressure NEAR’s market position.
Technical Patterns Point to Stellar’s Long-Term Potential
While NEAR struggles, Stellar (XLM) is attracting renewed interest from technical analysts who see promising chart formations developing. The cryptocurrency has been trading in a tight range around $0.47 for several months, but this extended consolidation phase may be setting up for a significant move higher.
Chart analyst C-Zar has highlighted similarities between current RSI patterns and previous market cycles that preceded major XLM rallies. His analysis suggests an initial target of $2.46, with longer-term projections reaching as high as $20 by 2026. While these targets remain highly speculative, the prolonged sideways action has traders watching closely for signs of a breakout.
🚀 Stellar $XLM Doubled in July — But the Real Move Might Just Be Starting ⭐️
🔥 $XLM has surged over 100% this month — from ~$0.22 to $0.52 in just weeks. And now? All eyes are on the golden cross 👀⚡️
📊 Golden Cross Incoming?
XLM’s 50-day MA is climbing fast and is about to… pic.twitter.com/BGT9nkJ3Aw— Scopuly – Stellar Wallet (@scopuly) July 23, 2025
According to Cointelegraph’s recent analysis, XLM’s network fundamentals continue to strengthen despite the price consolidation.
BlockDAG recently conducted a live demonstration of its X1 mobile miner working in tandem with the X10 hardware unit, revealing impressive efficiency gains. The demo showed users how to seamlessly connect their X1 mobile application to the X10 system, achieving a tenfold increase in mining output.
Mobile miners using the X1 app alone can generate up to 20 BDAG tokens daily. By adding the X10 hardware component, this output jumps to 200 BDAG per day, transforming casual mobile mining into a more substantial earning opportunity. The X1 app has already attracted over 2 million users worldwide, drawn by its user-friendly interface and minimal technical requirements.
The X10 hardware units are scheduled to begin shipping on August 15, with demand increasing following the successful demonstration. This launch coincides with the final phase of BlockDAG’s presale campaign, which has raised over $351 million to date. The project has sold 24.3 billion BDAG tokens, with the current batch 29 priced at $0.0016 per token.
BlockDAG’s presale price remains locked at $0.0016 until August 11, after which the token will launch at $0.05. Early participants have already witnessed returns of 2,660% since the initial batch, and analysts project the token could eventually reach $1. As CoinDesk explains, mining efficiency improvements like those demonstrated by BlockDAG represent significant advances in blockchain technology accessibility.
The cryptocurrency landscape continues to present varied opportunities and challenges. While established projects like NEAR face technical headwinds and XLM builds potential energy through consolidation, BlockDAG demonstrates tangible progress through its mining technology rollout. With its presale window closing soon and practical applications already live, BlockDAG represents an interesting development in the evolving crypto ecosystem, particularly for those interested in accessible mining solutions.
