NEAR Price Slumps Amid Confidential Perpetual Futures Launch
NEAR Protocol has fallen by almost 8% on September 24, 2026, despite being one of the strongest performers among top 25 cryptocurrencies over the week. The protocol's price was $4.22-$4.79, with a trading volume of around $2.15 billion and a market capitalization of approximately $5.51 billion.
The upswing in NEAR's price last week can be attributed to the launch of confidential perpetual futures contracts on Hyperliquid. These contracts allow for leverage of up to 40 times and are available on more than 50 markets, with positions continuing to be executed at Hyperliquid.
The term 'confidential' refers to the fact that trading activity runs over a shielded NEAR shard, hiding the asset traded, position size, entry time, and direction. However, this does not mean the position disappears, as it is still executed at Hyperliquid and remains part of its market infrastructure.
In Germany, investors need to be aware that confidentiality towards the public does not mean confidentiality towards the tax office. It's essential to keep records for tax purposes, regardless of whether a third party can see your position in a public data set.