NEAR Protocol Surges 84% as Confidential Trading Launch Sparks Buying Frenzy
NEAR Protocol's price surged by more than 84% in a week following the launch of its 'confidential by default' perpetual futures trading on September 17.
The new product, built with Hyperliquid, allows traders to open leveraged contracts without exposing their wallet, funding source, or open positions. This feature has sparked interest and buying pressure, pushing the token price to $4.43, a 27% gain in just 24 hours.
Total value locked in the ecosystem has reached nearly $190 million, with a separate $1 million NEAR airdrop to NEARKAT holders adding extra fuel to the rally. Co-founder Illia Polosukhin described the strategy as 'playing non zero sum games,' highlighting how the network is pulling liquidity from across the crypto market rather than competing for a fixed slice.