NEAR Protocol Surges 22% Following Launch of Confidential Perpetual Trading
- NEAR’s price increased by 22% to $2.98 after the launch of confidential perpetual trading.
- Trading volume soared by 120.4%, reaching $1.24 billion during the rally.
- The market capitalization of NEAR rose to approximately $3.9 billion.
- Confidential trading allows users to open leveraged positions without public visibility on the blockchain.
- The platform supports over 35 blockchains, enhancing cross-chain functionality for traders.
The launch of confidential perpetual trading on NEAR enables users to maintain privacy while engaging in leveraged trades, a significant feature in decentralized finance (DeFi). This move is supported by Hyperliquid, which manages the underlying derivatives execution and has recorded a trading volume of around $240 billion in the past month.
With a total value locked (TVL) now at $70 million, NEAR’s new trading capabilities could attract more users despite the inherent risks associated with leveraged products.(Source)
