- The web interface MyNearWallet will permanently terminate all customer operations on October 31, 2026.
- System operators advise transitioning account handling capabilities over to near.com to carry out cross-chain operations and yield management.
- Near Protocol price consolidates within the narrow range of a pennant pattern, preparing for its next bullish breakout.
MyNearWallet is shutting down its web portal on October 31, 2026, though user funds and on-chain assets remain completely secure. Because the platform is an interface rather than a custodian, users only need to switch to an alternative frontend—such as near.com—to retain seamless control over cross-chain trades, payouts, and yield management across external networks.
The transition process involves the use of security keys to set up a new profile. The system operators have released detailed instructional documentation for the migration process, and they have created a timeline of the sunsetting process.
Alternate Interface Transition for MyNearWallet Users
Specific operational guidelines have been issued to prevent the permanent misdirection of assets during this migration window. It is recommended that platform users perform a preliminary test transfer with a small amount of tokens to confirm the transfer setup before attempting to transfer large amounts. Incoming addresses within the new system operate strictly on a single-use model. If you try to copy a previous address or use the same one for several inbound transactions, the copy will fail or be permanently lost.
In addition, holders are required to process their portfolios in sequence – one type of token at a time – so there is ample room to confirm that the tokens arrived before taking next steps. Original security documentation, phrase keys, and master passwords are required to be physically stored until all items have updated successfully in the destination interface.
To safeguard the users against the persistent phishing attacks during the transition period, the foundation stated clearly that no staff member, helper, or core developer would ever ask for the transmission of private passphrases, alphanumeric seed keys, or secondary security phrases. No Official management channels will ever request account details.
Near Protocol Price Coiling for Its Next Breakout With Bull Pennant Pattern
In the second half of September, the Near Protocol price witnessed a significant rally from $2.33 to $5.387— registering a 130% gain— driven by a combination of AI sector momentum, institutional focus, and ecosystem growth.
However, since then, the coin price has remained sideways and continues to resonate within two converging trendlines. As shown in the chart below, the sharp rally followed a consolidation with two trendlines of dynamic resistance and support, indicating the formation of a bullish pennant pattern. The chart setup is a well-known bullish continuation pattern, as it allows buyers to recuperate the exhausted bullish momentum before the next breakout.
Following the shutdown news of MyNearWallet, the NEAR price is down 2.53% and currently trades at $5.16. This downtick signals another reversal from the resistance trendline of the pennant pattern, suggesting a potential 6.5% drop ahead to retest the support trendline at $4.82.
Until these two trendlines are intact, the NEAR price will continue the consolidation within this narrow range. However, the pattern usually supports an upside breakout, and with the NEAR price still positioned above the key exponential moving averages (20, 50, 100, and 200), the broader market sentiment is strongly bullish. Each of these moving averages could continue to offer dynamic support to the NEAR price.
Thus, the potential breakout could push the NEAR price to overhead resistance at $5.09, $7.06, followed by $8.2.
On the contrary, if the coin price breaks below the bottom trendline, these sellers could drive a deeper correction to the $4.0 or $3.52 support level.
