Near Price Surges Over 30% Amid Confidential Finance Ecosystem Growth
Near Protocol price jumped significantly over the past 24 hours, reaching $3.54 in a sharp September 18 rally as trading activity intensified.
This surge marked its highest level in nearly one year, with the NEAR token now gaining more than 100% during its recent advance.
The growth behind this price action was largely driven by the expansion of Near's confidential finance ecosystem, where total value locked (TVL) inside Confidential Intents surpassed $70 million.
This milestone triggered a reward launch, [email protected], which rewards qualifying ecosystem participants with tokens. The project successfully accomplished its first Drop 1 account snapshot on September 15.
The increased adoption and market liquidity led to the distribution of 333,333 milestone tokens among eligible users, although these will be locked upon distribution and require a three-day period for the unlock, contingent upon the volume-weighted average Near Protocol price being at or above $3.33.