The native token of Near Protocol rallied almost 80% over the past week, outperforming the broader cryptocurrency market as the network broadened its privacy-oriented exchange features.
As reported by CoinGecko, NEAR traded near $4.29 on Monday, marking a roughly 78.2% increase over seven days and a 22% gain in the last 24 hours. Meanwhile, the aggregate cryptocurrency market capitalization climbed by approximately 6% during the same seven-day timeframe.
Near Protocol announced on Thursday that deposits and withdrawals for perpetual futures trading via near.com are now private by default. The network explained that this capability conceals the connection between a user’s funding wallet and an assigned Hyperliquid trading profile.
On that same day, Near reported that the confidential total value locked (TVL) on near.com surpassed $70 million, which activated the initial snapshot of its NEAR@3.33 reward initiative. This scheme set aside 333,333 milestone tokens for the first payout. Based on the initiative guidelines, those tokens unlock and convert into NEAR once the three-day volume-weighted average price hits at least $3.33.
NEAR Intents reaches $29.3 billion in cumulative volume
NEAR Intents enables individuals to submit cross-chain exchange requests, while market makers compete to fulfill them.
Data from the NEAR Intents Explorer revealed a total cumulative volume of roughly $29.3 billion on Monday, including $842 million recorded over the previous seven days. The privacy-centric Zcash wallet known as ZODL ranked as the platform’s third-largest referral channel by volume across the prior 24 hours, producing about $3.8 million through 458 distinct transactions.
Additionally, an exchange involving roughly $613,000 worth of ZEC stood out as one of the premier transactions highlighted by the explorer for the preceding 24-hour period.
Related: Grayscale’s Zcash ETF files for 3-for-1 forward share split
Camran Khosravi, a research analyst at Bitwise, stated that Near and Zcash function as “complements,” maintaining that Near supplies ZEC owners with private cross-chain infrastructure alongside liquidity access.
Furthermore, he warned that the TVL of NEAR Intents can grow simply when the valuation of ZEC already maintained inside the ecosystem increases, even in the absence of fresh deposits.
Near has also expanded its privacy emphasis past financial exchanges. During July, NEAR AI launched staking-driven payments allowing participants to stake NEAR to acquire credits for confidential AI inference and agent hosting while keeping ownership of the underlying coins.
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Originally published at https://cointelegraph.com/markets/near-price-surge-intents-zcash-privacy?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
