NEAR Price Skyrockets 22% as Confidential Perpetual Trading Takes Off

Near Protocol (NEAR) price surged by 22% on Thursday to $2.98, reaching a market capitalization of approximately $3.9 billion.

The rally was driven by the launch of confidential perpetual trading powered by Hyperliquid, which allows users to open leveraged trades without making them public on the blockchain.

This is made possible through NEAR Intents and a private shard that shields transaction details from the public ledger. Users can control their funds while keeping information such as position size, entry levels, and trading activity hidden from outside observers.

Hyperliquid provides the perpetual futures market behind the product, with over $240 billion in volume traded on the platform in the last 30 days.