NEAR surges over 80% following launch of confidential futures trading

NEAR Protocol’s token price ripped from roughly $2.34 to $3.60 in a matter of days, a move of more than 80% that coincided with the launch of its confidential perpetual futures trading product. The surge pushed NEAR’s market cap from approximately $3.2 billion to $4.46 billion, with 24-hour trading volume spiking over 120% to exceed $1.24 billion. The catalyst: a first-of-its-kind integration between NEAR’s Confidential Intents privacy layer and Hyperliquid’s battle-tested execution engine, offering up to 40x leverage across more than 50 markets while keeping ownership and funding details hidden from public ledgers. How confidential perpetuals actually work Your orders still land on Hyperliquid’s public order book, so the market gets the liquidity and price discovery it needs. But the details of who deposited what, from where, and how much they’re holding get routed through a private shard on NEAR, invisible to the broader blockchain. Deposits flow through NEAR Intents, which facilitates funding from assets across more than 35 blockchains using automatic swaps for margin. That means a trader sitting on Solana-based assets can fund a leveraged ETH position without ever touching a ce...