Near Protocol's Price Breakout: Confidential Trading and Record-Breaking Volume

Near Protocol's native token, NEAR, has seen an impressive price surge, rising by 84% over the last seven days and 115% in the past month. The token is now trading at $4.42 on TradingView.

The catalysts behind this rally are twofold: the expansion of confidential derivatives trading on near.com and the record-breaking volume on NEAR Intents, which surpassed $1 billion in weekly volume. Confidential perpetual futures were launched on Hyperliquid, offering up to 40x leverage and allowing traders to route funding from assets held across over 35 blockchains.

The launch of these confidential derivatives is significant, as it brings private trading execution directly into the existing account experience on near.com. NEAR's price was already accelerating when this feature was introduced, with a market report published on September 18 attributing a 21% one-day jump to the launch of confidential perpetuals.

The record-breaking volume on NEAR Intents is also noteworthy, with over $1 billion in weekly volume passing through the system. This figure matters because Intents has become a central part of Near Protocol's cross-chain infrastructure, serving as the settlement layer for near.com and having facilitated the movement of more than $25 billion.