NEAR Price Surges 28% on Launch of Confidential Perpetual Futures

Near Protocol's price surged nearly 28% in 24 hours to around $3.47 on September 18, building on a seven-day gain of over 40%. This increase follows the launch of confidential perpetual futures on near.com, which allows traders to open positions without linking them to their accounts publicly. Confidential Intents infrastructure handles the privacy layer, while Hyperliquid provides execution and liquidity.

The product gives users access to more than 50 perpetual markets with concealed details such as position size, direction, and entry time from public view. The launch came as Near Protocol's confidential finance products drew in more capital, with Confidential Intents reaching over $70 million in total value locked on September 15.

The introduction of the incentive program triggered a snapshot that allocated milestone tokens to eligible participants, totaling 333,333 tokens. To qualify for this program, users need at least $100 in confidential balances and an active swap history.