Key Highlights
- NEAR Protocol surged more than 45% over a three-day period, reaching $3.45 by September 18
- The platform introduced confidential perpetual trading through Hyperliquid integration, concealing position data from public visibility
- NEAR Intents enables cross-chain deposits from over 35 blockchains with integrated privacy functionality
- The “Push to $3.33” rewards initiative secured 333,333 milestone tokens that unlock when NEAR’s 3-day VWAP reaches $3.33
- Over the last 30 days, NEAR Intents accumulated $5.01 million in total fees, with $1.58 million retained as protocol revenue
Between September 15 and September 18, NEAR Protocol’s token value skyrocketed from $2.34 to $3.45, representing a remarkable 45% increase within just three days. The 24-hour trading volume surged by 120% to reach $1.24 billion, while market capitalization expanded from approximately $3.22 billion to $4.46 billion.
This substantial price movement resulted from multiple factors including new product deployments, strategic incentive mechanisms, and genuine blockchain-based usage.
The platform rolled out confidential perpetual trading functionality utilizing Hyperliquid infrastructure. Traders can establish leveraged positions with up to 40x multiplier across more than 50 different markets, with transaction information kept private from public blockchain records by default.
Trading positions, entry values, and directional movements remain concealed within NEAR’s private shard architecture. This architecture prevents external parties from monitoring what assets a trader is handling, position sizes, or execution timing.
The infrastructure relies on NEAR Intents, a cross-chain trading framework that facilitates transactions across more than 35 different blockchains. Traders eliminate the need for manual asset transfers between separate wallets prior to executing trades.
Cryptocurrency analyst Michaël van de Poppe weighed in on the price movement, stating that $NEAR’s chart displayed strength and suggesting it was “just a matter of time” before the token hit $5, observing that it was nearing a critical resistance zone.
Strategic Incentive Mechanism: Push to $3.33
The near.com platform introduced a rewards program titled [email protected], allocating 333,333 milestone tokens to participants who maintained over $100 in confidential accounts and executed at least one confidential swap transaction.
These reward tokens remain locked and non-transferable. They become redeemable for NEAR at a 1:1 exchange rate exclusively when the three-day volume-weighted average price achieves or maintains $3.33. At that valuation, the total reward pool equals approximately $1.11 million.
This structure minimizes downward selling pressure. Unlike conventional airdrops where recipients immediately liquidate tokens, this mechanism requires sustained price performance rather than momentary price spikes.
Large Holder Transactions and Fee Generation
On September 9, several dormant cryptocurrency wallets reactivated, acquiring $33.37 million worth of ETH through CowSwap, subsequently exchanging 2,500 ETH for 6,601 ZEC using NEAR Intents. The transaction incurred a service fee of 16.75 ETH, approximately $42,000.
This transaction demonstrated substantial demand for NEAR’s privacy capabilities among high-volume traders seeking protection against front-running attacks.
Throughout the past 30 days, NEAR Intents has accumulated $5.01 million in aggregate fees. The protocol retained $1.58 million as net revenue, generated through front-end transaction fees, quote optimization margins, and partnership arrangements rather than conventional gas fee structures.
On September 17, near.com verified that total value locked within Secret Mode exceeded $70 million, with the initial snapshot of the rewards program successfully completed.
Hyperliquid, the derivatives execution engine supporting NEAR’s confidential trading features, facilitated approximately $240 billion in perpetual futures volume during the preceding 30-day period. Additionally, Payward, Kraken’s parent entity, revealed intentions to deploy on-chain perpetual contracts through Hyperliquid targeting U.S. market participants.
The post NEAR Protocol (NEAR) Soars 45% in Three Days: Key Catalysts Behind the Surge appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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