$NEAR Token Surges as Near Protocol Launches Confidential Perpetual Futures Trading

Near Protocol has made significant strides in on-chain privacy by launching confidential perpetual futures trading. This move enables traders to shield their identity by default while still settling trades on a public order book.

The funding step is now private, with deposits that open a position running through Confidential Intents, a private shard connected to the main chain via a TEE-based bridge. This means outsiders can't trace a position back to a specific wallet or identity.

Near Protocol partnered with Hyperliquid, the largest decentralized perpetuals venue by volume, to power its new trading engine. Instead of building a new order book from scratch, Near plugged its confidential funding layer directly into Hyperliquid's existing liquidity.

The launch drew attention from traders who want discretion without sacrificing verifiable settlement. The price of $NEAR surged over 31% in a single day, with its market cap increasing by 31.86%