NEAR Token Surges 40% Amid New Product Launches and Reward Campaign
NEAR Protocol's token has surged over 40% this week, reaching $4.6 billion in market capitalization after a significant boost from new product launches and a reward campaign.
The rally started with the news of an incentive program tied to a confidential trading feature called Secret Mode within NEAR Intents. Users who had over $100 in assets in a confidential account and completed at least one confidential trade were eligible for a distribution of milestone tokens, capped at 2% of total supply per wallet.
The launch also included Confidential by Default perpetual futures trading powered by Hyperliquid, which ensures that user orders are kept private, hiding information from public scrutiny. This feature is not available to users in the United States and Canada due to regulatory restrictions.