NEAR Soars 21% on Confidential Perps Trading Launch

Near Protocol's recent launch of confidential perpetuals trading on near.com has sent shockwaves through the DeFi space, with NEAR surging 21.36% in a day to trade at $3.21.

The industry-first feature masks all perpetual positions and their asset types, sizes, entry time, and trading direction, addressing long-standing issues such as front-running, strategy copying, and forced liquidations.

Near's Confidential Intents pipeline, which recently hit its $70 million TVL milestone, powers the new perps trading. Hyperliquid serves as the chief execution and liquidity layer, offering access to over 50 perpetual markets with up to 40x leverage.

The development marks a significant step towards private transactions on blockchain networks while maintaining regulatory compliance. However, confidential perps trading remains restricted in the US and Canada due to regulatory reasons.