Near Protocol (NEAR) is making waves in the DeFi space after launching the industry’s first “Confidential by Default” perpetuals trading on near.com. The feature completely masks all perpetual positions and their asset types, sizes, entry time, and trading direction.
The perks of Near’s private perpetuals trading
While transparency is a core tenet of blockchain technology, it also vastly disadvantages whales, institutions, and their AI agents in several ways, including:
Front-running: on-chain bots see pending orders and execute ahead of them, degrading execution prices.Strategy copying: public orders make it easy to mirror profitable trading strategies, reducing the competitive edge.Forced liquidations: malevolent actors could hunt down public liquidation prices to force a trader out of the market.
Near’s latest development combines the privacy native to centralized exchanges with blockchain’s speed, decentralized and non-custodial nature.
Notably, Near’s Perps trading runs on its multi-chain Confidential Intents pipeline, which recently hit its $70 million TVL milestone. The underlying technology features both high-speed execution and selective disclosure for the purposes of regulatory compliance.
Even more, the network’s integration of USDC enables inter-agentic payments in stablecoins. Hyperliquid comes in as the chief execution and liquidity layer, allowing users to tap into over 50 perpetual markets with up to 40x leverage.
Privacy-focused blockchain infrastructure
The development speaks to the industry’s growing demand for private transactions on blockchain networks, while maintaining regulatory compliance.
Ethereum offers confidential DeFi yield vaults; platforms such as Zama and Fhenix offer optional privacy wrappers, and Cardano’s Midnight chain offers rational privacy.
While monumental, Near’s confidential perps trading remains restricted in the US and Canada due to regulatory reasons.
NEAR and HYPE price action
NEAR has surged 21.36% in the day to trade at $3.21 following the above developments, in addition to sector rotation into AI-linked crypto tokens.
Should it hold above $3.00, the coin could retest the $3.33 incentive threshold. A break below $2.80 could trigger a fallback to the $2.57 Fibonacci support.
Source: CoinMarketCap
HYPE, on the other hand, has gained 10.82% to trade at $86.72 after Kraken’s parent company Payward announced plans to bring Hyperliquid to the US market.
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