NEAR Token Skyrockets 74% in Just One Week

The NEAR token has seen a significant surge in value over the past week, rising by nearly 74% to trade at $4.20 according to CoinMarketCap.

This growth comes as the total crypto market capitalization rose just 6%, with trading volume reaching $2.3 billion - an increase of 85% compared to the previous period.

The protocol's expansion of privacy and liquidity capabilities, including confidential deposits and withdrawals for perpetual futures trading, has been attributed to the token's strong performance.

Last Thursday, NEAR announced that deposits and withdrawals for perpetual futures trading became confidential by default, aiming to protect the operational identity of active traders.