NEAR Price Skyrockets 78% as Near Protocol Expands Confidential Trading Services

Near Protocol's native token, NEAR, has surged nearly 80% in the past week, outperforming the broader crypto market. According to CoinGecko, NEAR traded at around $4.29 on Monday, a 78.2% increase over seven days and a 22% hike over the past 24 hours.

This growth comes as Near Protocol expands its privacy-focused trading services, including confidential perpetual futures trading through near.com. The platform now obscures the link between a trader's funding wallet and their dedicated Hyperliquid trading account by default.

Near also announced that its confidential total value locked (TVL) had crossed $70 million on Thursday, triggering the first snapshot under its NEAR@3.33 incentive program. Under this program, 333,333 milestone tokens were allocated for the first distribution, which unlock and convert to NEAR when its three-day volume-weighted average price reaches at least $3.33.

Near Intents, a feature that allows users to request cross-chain swaps with market makers competing to execute them, has seen significant growth as well. The platform's cumulative volume reached $29.3 billion on Monday, with $842 million traded over the past seven days.