TL;DR
- The NEAR token rose 74% over the past week, currently trading at $4.20 according to CoinMarketCap, with a volume of $2.3 billion.
- NEAR Intents recorded $29.3 billion in total volume, with $842 million registered in the last seven days alone.
- The protocol incorporated confidential deposits and withdrawals by default for perpetual futures trading.
NEAR posted a gain of nearly 74% over the last seven days, trading at $4.20 according to the latest data from CoinMarketCap. Trading volume reached $2.3 billion, a surge of 85%, during a period in which the total crypto market capitalization rose just 6%. The token’s performance is explained, in part, by a series of announcements that expand the network’s privacy and liquidity capabilities.
Last Thursday, the protocol announced that deposits and withdrawals for perpetual futures trading became confidential by default. This feature conceals the link between the user’s funding wallet and their trading account on Hyperliquid, an improvement aimed at protecting the operational identity of the most active traders.
That same day, the network reported that confidential TVL surpassed $70 million, triggering the first snapshot under its incentive program. The program allocated 333,333 tokens to the first distribution milestone, on the condition that they be unlocked and converted to NEAR when the three-day volume-weighted average price reaches at least $3.33.
NEAR Intents: Volume and Privacy On-Chain
NEAR Intents, the system that allows users to request cross-chain swaps while market makers compete to execute them, reached $29.3 billion in cumulative volume. In the seven-day period prior to Monday, the system processed an additional $842 million.
The privacy-focused Zcash wallet ZODL ranked as the third referral source by volume over the last 24 hours, with approximately $3.8 billion distributed across 458 transactions. A single swap of around $613,000 in ZEC was among the largest operations of the period.
Camran Khosravi, research analyst at Bitwise, noted that Near and Zcash function as “complements“, given that the former provides ZEC holders with confidential cross-chain infrastructure and access to liquidity.
In addition, NEAR AI introduced staking-based payments that allow users to stake tokens in exchange for credits for confidential AI inference and agent hosting, while retaining ownership of the underlying assets.
